Stocks in Europe are set to close higher this afternoon and indices in the US are enjoying respectable gains as dealers are less worried about the omicron strain of Covid-19.
Oil prices continued their decline at the beginning of the week's trading
Last month the Associated British Foods (ABF) share price fell to an 11 month low as the company confirmed that its clothing division, Primark, experienced lower than expected sales during the summer.
Volatility is low in equity markets due to a lack of major macroeconomic news. The optimism that was in circulation at the end of last week, following the loan repayment from Evergrande, is still doing the rounds today.
The mood in the markets is subdued following the excitement experienced last week. Traders are sitting on the sidelines today as they still don’t know what to make of last Friday’s US jobs report.
Stocks are enduring heavy losses today as a spike in government bond yields has sent a shock through the markets.
Equity markets are moving higher today as traders are less fearful of the possibility of China slowing down, it also helps that government bond yields have dipped.
A combination of fears that China is cooling, and rising government yields have prompted traders to sell stocks.
Stock markets in Europe and the US are largely higher thanks to the well-received manufacturing reports from the eurozone and the US.
Equity markets are in the red as it seems that dealers are squaring up their books on the final day of the month.
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