As European scholarships operate higher this Wednesday (26), with Wall Street futures maintaining slight gains. Business in London is taking place amid broad expectations about the UK’s autumn budget.
The market is still awaiting firmer signals about negotiations for a peace agreement in Ukraine.
At around 7:36 am (Brasília time), the pan-European Stoxx 600 index was up 0.3%, at 569.63 points. At the same time, the London Stock Exchange gained 0.22%, the Paris Stock Exchange rose 0.30% and the Frankfurt Stock Exchange gained 0.18%. Those in Milan and Madrid registered increases of 0.20% and 0.30%. Lisbon pointed to an increase of 0.8%.
The wait is almost over for UK businesses and families, with Finance Minister Rachel Reeves about to announce a set of fiscal measures to combat the public deficit and increase the margin of maneuver to comply with the rule that requires current expenditure to be financed by tax revenue until 2029/30, says Société Generale in a note. For the bank, revenue will be raised through a combination of tax increases and additional loans.
London’s FTSE-100 has mining stocks among the highlights of the rise, after weak US economic data reinforced expectations that the Federal Reserve will cut interest rates in December, writes Matt Britzman of Hargreaves Lansdown.
Silver and gold miner Fresnillo rose 3.9% and Endeavor Mining gained 3.7%. Valterra Platinum advanced 3%.
In Frankfurt, Salzgitter jumped 7.6%, to 32.62 euros. Analysts at Deutsche Bank say the company would benefit greatly from improving steel prices and the recovery of the German economy.
The German steelmaker is sensitive to market swings and could benefit from new EU trade protections, analysts say. Deutsche Bank raised its recommendation on the shares from neutral to buy, with a new target price of 40 euros.
