European Stocks Surge Despite Mideast Tensions, Weakening Sentiment
Key national indices also advanced: Germany’s DAX 40 increased 1.18% to 22,562.88 points, France’s CAC 40 gained 0.92% to 7,772.45, Italy’s FTSE MIB 30 added 1.02% to 43,823.24, and Britain’s FTSE 100 climbed 1.61% to 10,127.96, with commodity stocks providing strong support.
The euro/US dollar exchange rate declined 0.41% to 1.1463 as of 1810 GMT. European Commission data showed eurozone economic sentiment fell 1.6 points month over month to 96.6 in March, reflecting the impact of higher energy costs on business and consumer expectations.
In Germany, the Ifo Institute reported that companies planning price increases rose to 25.3 points in March, the highest since March 2023, while annual inflation accelerated to 2.7% from 1.9% in February.
Market jitters were heightened by comments from US President Donald Trump suggesting Iran’s main oil export hub on Kharg Island could be targeted, alongside Houthi missile attacks on Israel. Analysts noted that European markets could rebound if signals emerge that the Strait of Hormuz will reopen, though elevated energy costs may sustain inflationary pressures.
Among individual shares, TotalEnergies rose more than 3%, Ferrari gained over 4%, and Rheinmetall added 2%, reflecting the sectoral boost amid heightened commodity demand.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
