End of a crazy week of volatility
LONDON — European markets head for an uncertain open on Friday as global equities cap off a week of extreme volatility following the U.S. Federal Reserve’s monetary policy meeting.
Britain’s FTSE 100 is expected to rise around 10 points to 7,564, Germany’s DAX is expected to fall around 48 points to 15,466 and France’s CAC 40 is expected to add around 14 points to 7,038, according to IG data.
Markets swirled throughout the week as investors reacted on Wednesday to the Fed’s indication that it may soon raise interest rates for the first time in more than three years, and to rising geopolitical tensions between Russia and the West over Ukraine.
After a sharply negative open on Thursday, European stocks recouped their losses and closed 0.7% higher after US GDP figures came in stronger than expected.
Asia-Pacific stocks were mostly higher on Friday after another wild session on Wall Street, while US stock futures pointed to a higher open on Wall Street later in the day, boosted by gains in ‘Apple after the company announced its biggest quarter ever in terms of revenue.
Earnings in Europe on Friday came from H&M and Fresnillo, while economic data releases include flash German, French and Spanish fourth-quarter GDP figures, Italian inflation impressions and a business climate survey in the euro zone.
French luxury goods conglomerate LVMH said on Thursday it expects increased demand for its fashion, handbags and jewelry products to persist through 2022 after a strong acceleration in sales growth in the fourth quarter. at 20.04 billion euros ($22.34 billion).
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