Despite a hesitant start-off of Monday’s (July 29th) trading, a majority of European Stock indices wrapped up the day with moderate gains ahead of a high-stake meet of US Federal Reserve policymakers, which is expected to axe US interest rate for the first time in a decade.
In point of fact, an upsurge of European shares on Monday’s (July 29th) market wrap-up was prodded by a strong upsurge of London’s FTSE 100 amid a much-weaker Pound Sterling, while recent developments of a $27 billion Refinitiv acquisition of London Stock Exchange, owned by London Stock Exchange Group Plc., added to investors’ optimism.
Meanwhile, shares of London Stock Exchange snowballed just a notch shy of 15 percent and helped London’s FTSE 100 to post a robust upswing of 1.82 percent to settle at 7.686.61. Aside from that, adding further bullish wings to London Stock Exchange, UK-based online food delivery service business, Just Eat soared 25.3 percent after media reports had revealed that its larger rival London-based Takeaway.com had0agreed to an all-share takeover deal for Just Eat, which could be worth as much as £8.2 billion.
Besides, over optimism of a Sino-US trade talk, which has been underway in Shanghai, Frankfurt’s trade-sensitive DAX alongside French CAC 40 had managed to wrap up Monday (July 29th) market almost flatlined, while addressing to a growing possibility of further stagnation on US-China trade talk, a chief market analyst at CMC Markets UK, Michael Hewson said, “The upside is there won’t be any new tariffs in the short to medium term.
But U.S. President Donald Trump has got what he wanted, which is a Fed rate cut. I don’t think we are going to make any significant progress (on trade talks) before the year end”. Quoting statistics, on Monday’s (July 29th) European market closure, regional Pan-European STOXX was up by 0.2 percent, while some of its gains were capped by a havoc-scale slump of Heineken, which was slammed 5.3 percent after missing an analysts’ estimate of its first-half operating profits, dented by rising expenses from growing packaging cost amid a hike in aluminum price.
Concomitantly, FTSE 100 soared 1.82 percent to 7,686.61 as beforementioned, while Germany’s DAX wrapped up Monday’s (July 29th) market 0.02 percent lower to 12,417.47, and French CAC 40 remained unchanged to 5,601.10.
Nonetheless, Italy’s FSE MIB shed 0.59 percent to 21,709.30 and Spain’s IBEX 35 lost 0.11 percent to 9.215.40, as investors’ outlook remained dubious towards riskier assets ahead of Fed rate cut decision.