European Stock Markets open week on downward trend amid Israel-Hamas tensions

Economy  |
Editor : Kevser Erbay
2023-10-09 11:14:36 | Last Update : 2023-10-09 12:03:06

Tension in the Middle East affected global markets badly. October 9, 2023, the week started with a negative course in global markets with the uneasiness caused by the conflicts between Israel and Hamas. Europe stock exchange starts the week with a sales-heavy course.

European Stock Markets open week on downward trend amid Israel-Hamas tensions

October 9, 2023, the week started with a negative course in global markets with the uneasiness caused by the conflicts between Israel and Hamas. Europe stock exchange starts the week with a sales-heavy course. After the opening, the Stoxx Europe 600benchmark index decreased by 0.1 percent to 444.3 points, while the DAX 40 index in Germany lost 0.7 percent to 15,119 points.

The FTSE 100 index in the UK is 0.2 percent below its previous close at 7,479 points, the CAC 40 index in France is at 6,989 points with a 1 percent decrease, the IBEX 35 index in Spain is at 9,155 points with a 0.9 percent decrease and the MIB 30 index in Italy is at 27,507 points with a 1.1 percent decrease.

The euro/dollar parity, which completed the week at 1.0590 with an increase of 0.4 percent on Friday, is currently hovering at 1.0530, 0.5 percent below its previous close.

On the other hand, analysts noted that the labor market continued to remain strong despite the steps taken by the United States(US)Federal Reserve (Fed) to combat inflation, reminding that non-farm payrolls in the country exceeded expectations by 336 thousand people in September.

While a buying-weighted course parallel to the New York Stock Exchange stood out in European stock markets on Friday, it is stated that rising oil prices and concerns about the Chinese economy may cause risk appetite to remain low in the region.

While the inflation data to be announced in the region this week will be the focus of investors, the pricing in the money markets will be influenced by the European Central Bank's decision

Source: Anadolu Agency

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