Stock Market
Out of context: Reply #3
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- neverscared0
The European markets clearly like Germany’s “bazooka” – a new €500bn infrastructure fund and a loosening of the debt brake to effectively allow unlimited defence spending.
An index of European aerospace and defence firms advanced by 3.3%. Shares in German companies Thyssenkrupp, Hensoldt, Rheinmetall and Renk have risen by between 5% and 12%. The UK’s BAE Systems, Europe’s biggest defence group, rose by 3.3%.
The Dax in Frankfurt leapt by nearly 3%, and is set for its biggest daily increase since November 2022.
The dollar has fallen by 0.72% against a basket of other major currencies: the trade-weighted dollar index is now at 104.97.
The euro has extended its gains against the dollar and is now up by 0.75% to $1.0704 while the pound is trading nearly 0.4% higher at $1.2842.
And we’re off. European shares are rallying, as expected, after the German debt brake deal was announced.
The Dax in Frankfurt jumped by 2.2% while France’s CAC and Spain’s Ibex rose by 1.4% and the UK’s FTSE 100 advanced by 0.57%, or 50 points, to 8,808.