Stocks Market
European Shares Gain Momentum as Wall Street Takes a Day Off
European equity markets opened higher on Friday, shrugging off the absence of Wall Street, which was closed for the U.S. Independence Day holiday. Major indices such as the CAC 40, FTSE 100, DAX and the pan‑European Stoxx 600 all posted gains, with the Stoxx 600 flirting with a new weekly record. The bullish tone was supported by softer Fed rate‑rise expectations and improving activity signals from Asia.
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Market Overview
European equity markets opened on a positive note on Friday, despite Wall Street being closed for the U.S. Independence Day holiday. The CAC 40 was up 0.24% at 8,494.37 points around 07:00 GMT, following a 1.65% gain on Thursday. In London, the FTSE 100 climbed 0.33%, while Germany’s DAX rose 0.72%, hitting a fresh record after already posting an unprecedented high the day before.
The broader EuroStoxx 50 advanced 0.37% and the FTSEurofirst 300 added 0.32%. The pan‑European Stoxx 600 rose 0.35%, also reaching a new record, after a 1.41% jump on Thursday. The technology sector led the charge, up 1.05% as market participants relaxed on interest‑rate expectations.
US Market Context
In the United States, the Dow Jones closed on Thursday at a record high after a robust jobs report eased fears of an imminent Fed tightening cycle. The prospect of a slower‑than‑expected Fed rate increase in September helped lift global equities, setting the stage for what could be the best week for stocks since early May.
Asian Activity Boost
New signs of expanding activity in Asian economies helped pull regional equities out of the mid‑week lethargy, providing additional support for European markets.
Stoxx 600 Weekly Performance
The Stoxx 600 has chalked up several records this week and is on track for another by Friday, with a near‑2% gain expected for the full week.
Upcoming Data
Market direction could shift later in the day when June corporate activity indexes are released. Preliminary euro‑area data showed a slowdown in the private sector easing, but services remain fragile.
Potential Volatility
The Wall Street holiday may increase short‑term volatility as U.S. traders stay out of the market.
Stock Highlights
In Paris, Pluxee surged 4.81% after the former Sodexo employee‑benefits division beat Q3 expectations despite regulatory headwinds in Brazil.
Sector Snapshot
Almost every major segment of the Stoxx 600 is in the green, beginning with basic resources (+0.45%). Gains are modest but widespread across sectors.
With Reuters