After 4 consecutive days of decline, European stocks rebounded this morning due to a bolstering from global crude and gas prices in international companies. Energy stocks led the gains, rising by 1.3%, indicating that global supply is beginning to tighten and concerns about lower exports from Russia Saudi Arabia are warranted, and coming into play. Although this rise sees the market pulling itself out of a slump, its performance for the rest of this week will be far more telling than a single day increase.
European stock market experiences positive change
Stocks aren’t the only European market to witness movement this morning; real estate and rental markets are showing a plateau, with UK real estate company Rightmove, reporting a slowing down of the 1.9% year-over-year drop that tackled the beginning of August.
However, this news, alongside a profit warning from real estate construction company Crest Nicholson which cited high inflation and rising interest rates, can potentially be seen as a contributing factor in Crest Nicholson’s stock decreasing by over 12%.
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Germany’s stock market is also attempting to reconcile with a week-long decline this morning, with the fears of interest rate hikes by the US Federal Reserve looming over the Dax index. Last Friday, the index managed to maintain above 15,500 points, so this week should present a positive short-term change for the market, albeit a tense one.
Danish drug manufacturer Novo Nordisk was the clear healthcare leader at the beginning of this week, with the healthcare company’s stocks rising by 0.6% on Friday.
