Shares in Europe opened higher on Thursday after a mixed session in Asia, which followed a decline in Big Tech stocks on Wall Street. Germany’s DAX and France’s CAC 40 both rose, while Britain’s FTSE 100 also saw gains. In Asian trading, Japan’s Nikkei 225 and Australia’s S&P/ASX 200 advanced, while South Korea’s Kospi saw a slight increase after the central bank cut its interest rate. Chinese shares fell as investors took profits. U.S. markets were closed for Thanksgiving and will reopen for a half day on Friday.
The Russian ruble fell sharply against the dollar, approaching its lowest level since the 2022 invasion of Ukraine. U.S. markets fell on Wednesday, with the S&P 500, Dow, and Nasdaq all declining. The Commerce Department reported that the U.S. economy grew at a healthy pace in the third quarter, driven by consumer spending and exports. However, some retailers reported weakening sales, impacting their stock performances.
Inflation has been falling but remains a concern as the Federal Reserve aims to reach its target of 2%. The central bank had raised interest rates before cutting them recently, with expectations of further cuts in December. President-elect Donald Trump’s plans to impose tariffs on Mexico, Canada, and China could impact inflation rates. Oil prices saw a slight decrease, while the dollar rose against the yen and the euro.
Overall, global markets are showing mixed performances amid concerns about inflation, interest rates, and trade policies. Investors are closely watching central bank decisions and geopolitical developments that could impact economic growth.
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