The main European stock exchanges opened today with gains, reacting to the decision by the US Federal Reserve (Fed), which had been largely anticipated, to cut interest rates the previous day.
Around 09:30 in Lisbon, the EuroStoxx 600 advanced 0.96% to 554.52 points.
Indices in London, Paris, and Frankfurt rose by 0.32%, 1%, and 1.20%, respectively, while Madrid and Milan saw increases of 0.59% and 0.50%.
In Lisbon, the trend from the opening persisted, with the main index, PSI, advancing 0.30% to 7,753.33 points at 09:30, after peaking at 8,020.36 points on August 21.
The Fed reduced key rates by a quarter-point in response to increased risks to employment and deteriorating labor conditions.
Following the Fed’s decision, revisions to economic forecasts, which include higher inflation, greater GDP, and lower unemployment, raise questions about the internal consistency of the entity’s policy trajectory, according to Janus Henderson analyst Dan Siluk.
In Asia, Tokyo’s stock exchange closed today with its two main indices at highs, with the benchmark Nikkei index advancing 1.15%.
Meanwhile, the Shanghai Stock Exchange’s benchmark index fell by 1.15%, the Shenzhen index lost 1.06%, and the Hang Seng slid 1.23%, shortly before the session ended.
On Wall Street, futures advanced 0.36% for the Dow Jones and 0.64% for the Nasdaq, after closing Wednesday with mixed trends.
The Dow Jones rose 0.57% on Wednesday to 46,018.32 points, compared to 46,108.00 points on September 11, marking a new high since the index was established in 1896.
The Nasdaq, a high-tech market index, fell by 0.33% to 22,261.33 points, compared to a new all-time high of 22,348.75 points on September 15.
In the debt market, Germany’s 10-year bond yield increased to 2.677%, from 2.673%.
In commodities, gold per troy ounce, a safe-haven asset, decreased to $3,658.71, from $3,684.71 on Wednesday and an all-time high of $3,689.90 on September 16.
Brent crude, a benchmark in Europe for November delivery, fell to $67.59, from $67.95 on Wednesday.
West Texas Intermediate (WTI) crude, a benchmark in the United States, decreased by 0.66% to $63.53 before the official market opening.
Bitcoin, the most widely traded cryptocurrency, rose 1.30% to $117,154.
The euro rose to $1.1834 in Frankfurt’s foreign exchange market, from $1.1853 the previous day, and a new four-year high of $1.1865 on September 16.
