(MENAFN– ecpulse)
European shares rose early Tuesday, as markets anticipated the Federal Reserve’s policy meeting, where the bank will probably announce another $10 billion tapering off its stimulus plan.
The markets are open and we saw some broad stabilization although Asian markets were stuck into those five month lows, the US markets were lower, but looking at the futures this morning we expect a little bit a of a bounce for the US and of course for the European markets. The Fed is the main focus, but lights will be shed on the UK for a while, with latest GDP data pending to release later on the day.
As of 03:37 a.m. EST, the Stoxx Europe 600 rose 0.555 to 323.79, compared with the Monday’s close which was the lowest since Dec. 20 on renewed concerns about the global economic recovery, especially from emerging markets.
- Britain’s FTSE 100 was up 0.22% at 6,565.27
- France’s CAC 40 was up 0.52% at 4,166.29
- Germany’s DAX 30 was up 0.38% at 7,735.00
Taking a look at some of the equities, Germany`s Siemens rose after posting better-than-expected quarterly earnings. Shares of Netherland`s Phillips yo-yoed ained after the comapny posted weaker-than-expected quarterly sales.
Offical data from the UK may confirm the country as the strongest major economy in Europe, with advanced fourth-quarter Gross Domestic Product likely rising 0.75 in the three months to December, following growth of 0.8% in the third quarter.
This comes just days afer the International Monetary Fund (IMF) upgraded its outlook for the UK in 2014 to 2.4% from 1.9%, the biggest upward revision fro any developed economy and the second most optimistic prediction behind its outlook for the US.
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