A good start and finish for European markets on Monday with technology stocks back in favour.
News from the US appeared positive ahead of the Federal Reserve policy meeting on Tuesday. The general feeling was that interest rates would be left alone, rather than being cut further to boost the economy. By close of play, the German DAX 30 was slightly higher and Paris' CAC 40 gained almost 1%.
Tuesday saw European investors waiting for news from the US and the Federal Reserve in respect of interest rate movements. Confidence seemed high although telecommunications stocks were out of favour. As in the UK, losses in the telecommunications sector were offset by oil stocks rising. By close of play the DAX 30 and CAC 40 were both higher by almost 0.5%.
Wednesday saw a slowdown in European markets which was put down to a session of profit taking. Markets were also not helped by a fall in US markets after the Federal Reserve changed their stance on interest rates to neutral. This means that their feelings are not to increase rates and not to put them down any lower. This indicates they are ready to move, whichever way the markets go. By close of play the CAC 40 was down almost 1%. The DAX 30 fared worse, falling by almost 2%.
Thursday was another day in the red for European markets. This time, telecommunication stocks were stronger, with oil and financials weaker. Both the DAX 30 and CAC 40 managed losses of almost 0.5%.
Friday saw a slight comeback for markets in Europe. During the day, gains had been higher but news from the US of weaker trading, pulled Europe lower. Nevertheless, gains were seen for both the DAX 30 and CAC 40.