European shares advanced on Wednesday, with rate-sensitive sectors like real-estate jumping after a cool U.S. inflation reading propped up hopes that the Federal Reserve could kick-off its policy easing cycle soon.
The dollar has slipped back from recent highs, but the U.S. currency has been in demand after Friday’s stronger-than-expected jobs report, as traders pared back bets for Fed rate cuts this year.
Gold prices could surge up to $3,000 over the next 12 months, Citi analysts said, as a combination of strong physical demand, central bank purchases, and macroeconomic factors continue to support a bullish outlook for the yellow metal.
Bitcoin price rose higher on Wednesday, rebounding from a decline in the prior session when risk appetite was largely constrained by anticipation of a Federal Reserve meeting and key inflation data.
The best performers of the session on the OMX Stockholm 30 were Sinch AB (ST:SINCH), which rose 4.39% or 1.00 points to trade at 23.78 at the close. Meanwhile, Samhallsbyggnadsbolaget i Norden AB (ST:SBBb) added 3.87% or 0.21 points to end at 5.71 and Hexagon AB ser. B (ST:HEXAb) was up 3.47% or 4.10 points to 120.60…
Prime Minister Rishi Sunak pledged to cut 17 billion pounds ($21.7 billion) of taxes for working people if re-elected, launching a final throw of the dice to overturn polls that put him on course for a heavy defeat in Britain’s July 4 election.
“We note the dollar has ended lower on the day after the last four consecutive FOMC meetings – largely on the back of Chair Jerome Powell’s dovish rhetoric at the press conference,” said analysts at ING, in a note.
Oil prices were largely steady on Tuesday, as investors waited for U.S. and China inflation data and the outcome of the Federal Reserve’s policy meeting to see how changing prices could hit demand.
Markets immediately reduced the probability of a 25-basis point Federal Reserve rate cut in September to 60% from 85%, leading to a decline in risk assets, including cryptocurrencies.
The best performers of the session on the Tadawul All Share were Miahona Holding SCJSC (TADAWUL:2084), which rose 10.00% or 1.88 points to trade at 20.68 at the close. Meanwhile, Fawaz Abdulaziz AlHokair Company (TADAWUL:4240) added 9.35% or 0.76 points to end at 8.89 and Saudi Chemical Company (TADAWUL:2230) was up 8.63% or 0.88 points to 11.08 in late…
