European Stocks Rise At Open As Fed Eases Rate Fears
Fahad Shabbir (@FahadShabbir) Published June 23, 2021 | 02:25 PM
European stocks rose slightly at the open on Wednesday after Federal Reserve chief Jerome Powell eased market concerns over the timing of higher interest rates
London, (UrduPoint / Pakistan Point News - 23rd Jun, 2021 ) :European stocks rose slightly at the open on Wednesday after Federal Reserve chief Jerome Powell eased market concerns over the timing of higher interest rates.
London's benchmark FTSE 100 index gained 0.2 percent to 7,107.31 points.
In the Eurozone, Frankfurt's DAX 30 climbed 0.1 percent to 15,655.94 points and the Paris CAC 40 won 0.1 percent to 6,617.53.
Markets are concerned that strong rises to inflation will cause the Fed and other central banks to raise interest rates faster than expected, impacting the global recovery.
But at a congressional hearing Tuesday, Powell stressed that most of the factors pushing prices higher are "areas that are directly affected by the reopening" of the economy.
"There's no reason why it should leave a mark on inflation, say, a year or so ahead, because we should be through it, then," Powell said.
Analysts saw his comments as the Fed boss downplaying the prospect of rate rises any time soon.
Recent Stories
Applications Open for 6th Cycle of Start-up Incubation under the National Expans ..
Join vivo's "Light it Up" Social Media Contest in Ramadan to Win vivo V30 5G
Pakistan v New Zealand T20I series: Tickets to go on sale from today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
Today Gold Rate in Pakistan 29 March 2024
Journalists call for global action to end Gaza’s humanitarian crisis
CM for generating opportunities to bring direct int'l investment
Pakistan retains position in FTSE secondary emerging market
High Commissioner of Malaysia hosts Iftar dinner reception
NEPRA announces 2nd quarterly adjustment in power bills with Rs 1.68 cut per uni ..
Hoopo Inc. Collaborates with SAU to Install Solar-Powered RO Plant
04 killed in Spain as Storm Nelson looms
More Stories From Business
-
Shipping activity at Port Qasim
23 minutes ago -
Tractor production increase 68% in Jul-Feb
53 minutes ago -
Exchange rates for currency notes
2 hours ago -
Foreign exchange rates
2 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 March 2024
3 hours ago -
Today Gold Rate in Pakistan 29 March 2024
4 hours ago
-
Pakistan retains position in FTSE secondary emerging market
13 hours ago -
Pakistan retains position in FTSE secondary emerging market
13 hours ago -
China's competitive car market at heart of global EV revolution
13 hours ago -
China's Xiaomi enters car market with new electric vehicle
13 hours ago -
Pak-Türkiye strategize to boost bilateral trade to $5 billion
15 hours ago -
Chief Representative of CFFEX in Pakistan and PSX Director meet Finance Minister
15 hours ago