European stocks rose on Thursday after the Swiss National Bank cut interest rates, signaling potential support for risk assets. The Stoxx 600 index increased by 0.4%, with technology, insurance, and real estate sectors leading the gains. US futures also strengthened, suggesting new record highs for Wall Street following a public holiday. The Swiss franc decreased against the euro and the dollar after the rate cut. Meanwhile, Norges Bank kept rates steady, and the Bank of England is expected to do the same later in the day. Investor focus also remains on France’s bond auction and the ongoing AI frenzy on Wall Street. In other market moves, German drug developer Evotec SE saw a 16% jump, while Societe BIC SA slumped 19% after downgrading sales guidance. The offshore yuan reached its weakest level of the year. Key events for the week include Eurozone consumer confidence, UK BOE rate decision, US housing starts, jobless claims, and more. Stocks, currencies, cryptocurrencies, bonds, and commodities all experienced various movements, shaping the ongoing global market dynamics.
Vocabulary List:
- Interest /ˈɪn.trɪst/ (noun): The cost of borrowing money expressed as a percentage of the amount borrowed.
- Signals /ˈsɪɡ.nəlz/ (verb): Indications or signs that suggest something.
- Strengthened /ˈstrɛŋ.θənd/ (verb): Made something stronger or more powerful.
- Guidance /ˈɡaɪd.əns/ (noun): Advice or information aimed at resolving a problem or issue.
- Confidence /ˈkɒnfɪdəns/ (noun): A feeling or belief that one can have faith in or rely on someone or something.
- Dynamics /daɪˈnæmɪks/ (noun): Forces or properties that stimulate growth development or change within a system or process.
