On Friday, the Stoxx index concluded the day with a provisional increase of 0.1%. Most sectors experienced gains, although trading activity remained limited. In London, the FTSE 100 closed in positive territory, while the FTSE 250 saw a decline.
Grifols, a Spanish pharmaceutical group, made significant headlines by climbing approximately 8.4%. This surge came after the announcement of its plans to sell a 20% stake in Shanghai RAAS, a blood products firm, to China’s Haier for a valuation of around $1.8 billion.
Despite Germany’s bleak economic outlook, the country’s DAX has recorded an impressive rise of close to 20% throughout 2023. Likewise, France’s CAC 40 and the UK’s FTSE 100 have seen respective gains of 16.4% and 3.64%.
In the United States, stocks displayed minimal fluctuations on Friday. The S&P 500 index pursued a new record high to conclude the two-month-long rally.
Although recent data releases, including Thursday’s jobless claims report, continue to suggest a slowdown in US economic growth, there are no indications of a complete halt. According to CME’s FedWatch, current market expectations place a 72.8% probability on the Federal Reserve implementing rate cuts as early as March 2024.
Source (CNBC)
