EUROPEAN SHARES
Stocks rose in Europe on Wednesday, despite a choppy Asian trading session overnight, as investors digest the latest macro developments ahead of more monetary clues today.
All EU sectors were in the green following the opening bell on Tuesday, with the STOXX-50 index registering a relatively modest advance with all sectors in the green thanks to encouraging macro data from France and Spain. Volatility will likely remain high for equities as investors await more monetary clues to be provided by central bankers Jerome Powell (Fed) and Andrew Bailey (BoE) in Portugal later today.
Dark clouds are slowly piling up for stock traders as rising geopolitical risks with Russia linger and US-Sino trade tensions resurged after the Biden administration considered putting more restrictions on AI chip exports from the US to the second biggest economy in the world.
With that in mind, investors will likely rely on economic data and corporate profits to adjust their exposure to riskier assets in the coming weeks.
The STOXX-50 index still trades close to major resistances, with 4,345.0pts and 4,375.0pts being the last ones before its all-time high at 4,420.0pts.
Pierre Veyret– Technical analyst, ActivTrades
Source: ActivTrader
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