Global markets update: US stocks climb ahead of inflation
US Federal Reserve was nearing the end of its interest rate hiking cycle. The pan-European STOXX 600 ended 0.7% higher. Irish stocks jumped 2.1%, boosted by gains in Kingspan which climbed 15.7% after forecasting record profit for the first half of the year.
Britain’s FTSE 100 gained 0.1% at 7,282.52. Germany’s DAX added 0.8% at 15,790.34. France’s CAC 40 rose 1.1% at 7,220.01.
Miners were among top sectoral gainers in Europe, up 1.8% as metal prices rose on Beijing's support for its property market. In Asia, most stock markets rose on Tuesday on China’s moves to boost its flagging economy. China has asked banks and other financial institutions to provide easier terms for ailing property developers by renegotiating the terms of their loans, with the aim of ensuring homes under construction were delivered.
More announcements were in the pipeline as well as measures to boost business confidence, said state-run newspapers. Hong Kong’s Hang Seng index rose 1% at 18,659.83. China’s Shanghai Composite: added 0.6% at 3,221.37.
Japan’s Nikkei 225 ended flat at 32,203.57. Australia’s S&P/ASX 200 index closed 1.5% higher at 7,108.90, snapping four sessions of decline. In New Zealand, the benchmark S&P/NZX 50 index finished flat at 11,909.81.
Brent crude for September delivery rose $1.71 to $79.40 a barrel on Tuesday. US crude oil benchmark for August delivery rose $1.84 to $74.83 a barrel. Natural gas for August delivery rose 6 cents to $2.73 per 1,000 cubic feet.
Gold for August delivery rose $6.10 to $1,937.10 an ounce. Silver for September delivery fell 7 cents to $23.28 an ounce. Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
. Read more on livemint.com
