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European shares started on green lifted by oil gains

European stock markets have started Wednesday’s session on the rise, pending the Federal Reserve meeting held in a context of inflationary pressures. Analysts expect rates to remain between 0-0.25%.

Apart from this, today, the CPI data corresponding to May is also published in the United Kingdom.

Energy stocks echoed a jump in oil prices. As a result, the pan-European STOXX 600 added 0.3% in the morning trading session. The benchmark index hit record highs this year. Investors bet that a steady vaccination program would promote economic growth.

In the debt market, the interest on the German bond, which is considered the safest, plummeted and stood at 1.499%. 

According to Wednesday’s data, inflation in Britain unexpectedly surged above the 2% target in the previous month. Moreover, it seems set to increase further as the country reopens its economy from lockdowns caused by the coronavirus pandemic. 

However, London’s FTSE 100 climbed by 0.3%, and the European energy stock index gained 0.6%.

 

Kospi set a new record amid optimism about the recovery in the US

The Kospi, the main index of the Seoul stock exchange, increased by 0.62%. It scored a new all-time high after investors started purchases on optimism about economic recovery in the US. 

The Kosdaq Tech Stock Index advanced by 0.11% or 1.12 points to 998.49.

The South Korean stock market today made its fifth earnings session. In fact, investors hope that a good pace of vaccinations in the US will boost the post-pandemic economic recovery and help exports from South Korea to the United States. 

Samsung Electronics advanced by 1.1%, and SK Hynix gained 0.78%. 

Meanwhile, Hyundai Motor added 1.05, and its subsidiary Kia Motors climbed by 0.79%. 

Cosmetics firm AmorePacific climbed 0.71%. Meanwhile, Navar, the largest internet provider in the country, gained 1.03%.

 

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