European Markets Open Higher After Uk Fiscal U-Turns Hannah Ward-Glenton

  • Posted on October 18, 2022
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  • By FC Team
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LONDON — European markets open higher as the region feels the impact of the U.K.’s fiscal U-turns on Monday.Most sectors and major bourses have made gains at 8.00 a.m. London time, with construction leading increases up 1.3%. Health care leads losses, down 0.28%.EUROPEAN MARKETSTICKER COMPANY PRICE CHANGE %CHANGE .FTSEFTSE 1006980.2960.050.87.GDAXIDAX12786.74137.711.09.FCHICAC 40 Index6105.564.841.07.FTMIBFTSE MIB21583.38263.651.24.IBEXIBEX 35 Idx764284.91.12The British pound rose and bond yields fell after new Finance Minister Jeremy Hunt scrapped most of Prime Minister Liz Truss’ fiscal policies in an announcement Monday.Truss apologized for the “mistakes” she made in her first six weeks in the position.U.S. stock futures rose Tuesday morning after the Nasdaq Composite posted its best daily performance since July. Futures tied to the Dow Jones Industrial Average gained 373 points, or 1.23%. S&P 500 futures jumped 1.46% and Nasdaq 100 futures climbed 1.7%.Shares in the Asia-Pacific traded higher on Tuesday after Wall Street’s rally overnight. Australia’s S&P/ASX 200 gained 1.68% to lead gains in the region, the Nikkei 225 was 1.38% up, while the Topix added 1.11%. CNBC.com

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