Global stock markets experienced a positive trend on Thursday, fueled by investor confidence in the belief that the Federal Reserve has completed its series of interest rate hikes to counter inflation.
This sentiment, supportive of equities, prevailed as U.S. markets remained closed for the Thanksgiving holiday, slated to resume on Friday for a shortened session, and with limited significant market catalysts.
While London’s FTSE 100 saw a rare decline of 0.1%, the Paris CAC 40 advanced by 0.2%, and Frankfurt’s DAX registered a 0.1% uptick. The pan-European Stoxx 600 remained relatively unchanged.
In Asian markets, Hong Kong’s Hang Seng Index rose by 1%, and the Shanghai Composite closed 0.6% higher, with Tokyo markets closed for a Japanese holiday.
Susannah Streeter, an analyst at broker Hargreaves Lansdown, highlighted the positive atmosphere stemming from the U.S. as Wall Street approached the Thanksgiving weekend. She noted the diminishing concerns about additional Fed rate hikes and the economy’s resilience, expressing hope for a smooth landing despite the elevated interest rates.
With Thanksgiving festivities taking precedence, trading activity was expected to be subdued on the day.
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