European stocks close higher as markets digest Fed minutes; Sage Group up 13%
Publishing timestamp: 2023-11-22 11:57:26
Summary
The European stocks brightened as markets digested the latest meeting minutes from the U.S. Federal Reserve and fiscal announcements in the U.K. The Stoxx 600 index closed higher, with most sectors trading moderately higher. Sage led stock gains after reporting a strong rise in operating profit and announcing a share buyback program. U.K. Finance Minister Jeremy Hunt announced tax cuts and other changes. The Fed minutes revealed a maintained stance on monetary policy. U.S. stocks also opened higher, while crude oil prices tumbled after a delayed OPEC meeting. European Central Bank Vice-President Luis de Guindos warned of potential volatility in the financial landscape. Goldman Sachs expects the ECB to begin rate cuts in the third quarter of 2024. German engineering and steel production group Thyssenkrupp reported a net loss. UBS identified stocks set to benefit from solid-state battery technology. Oil prices were largely unchanged ahead of the OPEC meeting. The growth of Temu, the U.S. arm of Chinese e-commerce giant Pinduoduo, could impact major retailers. The Federal Reserve released minutes showing no indication of rate hikes. One portfolio manager is shifting focus to small and mid-cap tech stocks. European markets are expected to open flat to higher.
Sentiment: MIXED
Tickers: .FTMIB, .FCHI, .GDAXI, SGE-GB, PDD, .FTSE, .STOXX,
Keywords: prices, breaking news: europe, cac 40 index, stoxx 600, sage group plc, dax, business news,
Source: https://www.cnbc.com/2023/11/22/european-markets-live-open-stocks-news-data-and-earnings.html