EU stocks reopen in the red after Fed’s hawkish comments
Stocks reopened in the red in Europe on Monday, as investors came back to their trading desks still digesting the latest macro developments after a long Easter weekend. The latest hawkish comments from the FED along with the recent new Covid restrictions in China, have combined with resurgent war in Eastern Ukraine to raise uncertainty towards this week’s market sentiment. Investors are also braced for a significantly busy agenda this week. The start of the highly awaited earnings season, with quarterly results expected from Netflix, Tesla, IBM, Johnson & Johnson and American Express alongside speeches from Central Bankers, EU and US major macro data as well as the Presidential election debate in France are likely to have a strong impact on both risk appetite and market volatility. So far Travel and Leisure shares have registered the deepest decline in Europe while energy stocks have provided a haven to equity traders. The CAC-40 index remains in its 130-points wide range, between a strong support level and a key resistance at 6,615 pts.
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