Stock markets in Europe and Asia mostly went up on Thursday. Investors were keeping an eye on how different companies performed and what might happen with interest rates.
Even though some US policymakers talked about not lowering borrowing costs too soon, that didn’t stop the stock markets from getting excited about good news from big companies. For example, Disney made more profit than expected in the last quarter.
Stephen Innes at SPI Asset Management said, “Even though interest rates might go up, it doesn’t seem to be a big problem for consumers or businesses. So, the Federal Reserve can take its time to control inflation without messing up the stock market.”
In Europe, the Paris CAC 40 and Frankfurt DAX stock markets were doing well around midday. One big company, Kering, saw its shares go up by five percent, even though its overall sales and profit went down. London’s FTSE 100 didn’t change much. AstraZeneca, a British drug company, saw its shares drop by more than six percent because investors were worried about its future, despite making a lot of profit last year.
In Asia, the stock market in Shanghai was doing really well before the Lunar New Year holiday. The Chinese government has been trying to help the stock market by doing things like buying back shares. But some people say there are bigger economic problems in China, especially in the property market, that need fixing before people feel more hopeful.
Hong Kong had a bit of a setback when shares in Alibaba went down by more than six percent. Even though Alibaba said it would buy back a lot of its own shares, its earnings report wasn’t as good as people hoped.
Here are some important numbers from around the world:
- London’s FTSE 100 didn’t change, it stayed at 7,627.92 points.
- The Paris CAC 40 went up by 0.5 percent to 7,649.91.
- The Frankfurt DAX went up by 0.2 percent to 16,962.38.
- The Tokyo Nikkei 225 went up by 2.1 percent to 36,863.28 (it closed).
- The Hong Kong Hang Seng Index went down by 1.3 percent to 15,878.07 (it closed).
- The Shanghai Composite went up by 1.3 percent to 2,865.90 (it closed).
- In New York, the Dow went up by 0.4 percent to 38,677.36 points (it closed).
The value of money also changed a bit:
- The dollar went up against the yen, from 148.16 yen on Wednesday to 149.18 yen.
- The euro went down against the dollar, from $1.0777 to $1.0761.
- The pound went down against the dollar, from $1.2628 to $1.2606.
- The euro went up against the pound, from 85.32 pence to 85.38 pence.
Lastly, the price of oil went up:
- Brent North Sea Crude went up by 1.1 percent to $80.04 per barrel.
- West Texas Intermediate went up by 1.0 percent to $74.59 per barrel.
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