EU stocks opened higher extending yesterday’s gains
European stocks opened mostly higher on Wednesday, extending yesterday’s gains registered on US markets as investors turned their focus on corporate results.
Market sentiment has improved in the middle of the week, with declines in haven assets like Gold and the US Dollar echoing the paused sell-off in Treasury bonds. Investors are seizing the opportunity brought by the earnings season to reallocate their exposure to some sectors, with rotation from growth to value stocks lingering as a key question as most traders still struggle to assess which can outperform the market for the rest of 2022. Meanwhile, bond yields and monetary policies remain as the top market drivers at the moment, and investors will be cautiously monitoring the FED Beige Book release due later in the afternoon, that should provide more visibility on what’s on the table for the next FED meeting. Procter & Gamble and Tesla will report quarterly results today while European stock investors will be waiting for earning reports from Danone, Carrefour and Hermes.
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