European shares
European shares climbed on Friday, alongside US Futures contracts, paring some of Thursday’s losses as market sentiment improved for the last trading session of the week. All European benchmarks were in the green on Friday morning, with the best performances brought by Athens, Milan, and Paris, mostly due to energy shares as investors welcomed decreasing tensions and lower oil prices. Market sentiment is also finding support from Asia after the worrying virus resurgence in China sparked expectations of more dovish measures from the PBoC, to sustain its domestic economy. Meanwhile, investors are still digesting the latest move from the Federal Reserve. Even if most traders were reassured by the Fed’s roadmap to monetary tightening, they will be watching the effect on the economy’s performance, especially as geopolitical tensions in Ukraine are now expected to remain for a longer period. This clouds the environment further for investors, raising the prospect of more market volatility for the rest of 2022.
Pierre Veyret– Technical analyst, ActivTrades
Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.
