European stocks exhibited a positive start to the trading day, with the German DAX index reaching 24,170 points – a 0.5 percent increase compared to the previous day’s close. Leading the gains were Continental, Siemens and Mercedes-Benz, while shares in Deutsche Telekom, Eon and Qiagen saw more modest performance.
Market analysts are currently focused on digesting recent earnings reports from Nvidia, alongside anticipation of key macroeconomic data releases. Nvidia’s financial results are anticipated to meet or exceed market expectations. However, initial reactions to the reports prompted some profit-taking activity in after-hours trading.
Today’s economic calendar includes the release of initial jobless claims and the preliminary US GDP figure for the second quarter. These figures are expected to be particularly relevant as investors position themselves ahead of the upcoming US Federal Reserve meeting in September, potentially influencing expectations surrounding future interest rate adjustments.
Attention is also turning towards France, which is being closely monitored by investors. Analysts note rising government bond yields, bringing France closer to levels seen in 1999, coinciding with the introduction of the Euro. Political uncertainty in France could pose challenges for a country with a significant debt burden.
In currency markets, the Euro saw a slight strengthening, trading at 1.1643 US dollars. Meanwhile, oil prices experienced a decline, with Brent crude falling to 67.51 US dollars per barrel, a decrease of 0.8 percent from the previous day’s close.
