European Stock Markets Recover Losses, S&P 500 in the Red

On European stock markets, share prices rose on Thursday morning, recovering some of the losses from previous days.

The STOXX 600 index of leading European stocks was up 0.3 percent at 9:30 AM, after two days of decline. The London FTSE index strengthened by 0.11 percent to 9,265 points, while the Frankfurt DAX rose by 0.38 percent to 24,138 points, and the Paris CAC increased by 0.71 percent to 7,799 points.

In previous days, markets were under pressure due to the political crisis in France, as the government attempts to secure budget savings. However, after two days of significant decline, share prices have somewhat increased this morning.

Similarly, on most Asian stock markets, share prices have risen. The MSCI Asia-Pacific index was up 0.3 percent at 9:30 AM.

Share prices in Australia, Japan, South Korea, and Shanghai rose between 0.2 and 1.1 percent, while in Hong Kong and India, they fell by about 0.6 percent.

The long-awaited quarterly business report from Nvidia was released early this morning, and the revenue and earnings data are slightly better than analysts expected. However, the share price of the world’s largest company by market capitalization has slightly fallen after the results were announced. As a result, the U.S. futures S&P 500 is in the red, down about 0.2 percent, which could lead to the index slipping from its record level reached yesterday at the start of today’s trading on Wall Street.

The Bank of Korea maintained its key interest rates at 2.5 percent this morning, as expected. However, it was not anticipated that the chief Japanese negotiator would cancel a planned trip to Washington, where he was supposed to finalize the last details of the trade agreement accepted last month. Therefore, Japanese media are speculating about the reasons for the trip’s cancellation.

On the currency markets, the value of the dollar against a basket of currencies has slightly fallen. The dollar index, which shows the value of the U.S. dollar against the other six major world currencies, is around 98.13 points this morning, compared to 98.44 points at the same time yesterday. Meanwhile, the price of the euro has risen from yesterday’s 1.1610 to 1.1645 dollars.

The U.S. currency has also weakened against the Japanese yen, with the dollar exchange rate slipping to 147.45 yen, down from 147.90 yen at the same time yesterday. Oil prices, on the other hand, have lost some of yesterday’s gains. In the London market, the price of a barrel has fallen by 0.81 percent to 67.50 dollars, while in the U.S. market, a barrel has decreased by 0.92 percent to 63.55 dollars.