March 4, 2024

Taylor Daily Press

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Relief on stocks on potential US debt ceiling deal

Relief on stocks on potential US debt ceiling deal

Investors in European stock markets responded with relief on Thursday that Democrats and Republicans in Washington appear to be approaching an agreement to raise the US debt ceiling. This week’s debt ceiling disputes, along with fears of inflation, caused wild movements in the stock markets, with solid gains following severe losses. Republicans have now offered to raise the debt ceiling until December.

In addition, the minutes of the last policy meeting of the European Central Bank (ECB) and the demands for weekly benefits in the United States will be announced later. The U.S. government’s important work report is due out on Friday.

The AEX index on PureSpleen 5 traded up 1.2 percent at 770.26 points in morning trade. Midcap was up 0.4 percent at 1035.73 points. Indicators in London and Paris rose 1.2 percent. Frankfurt’s DAX rose 1.2 percent in August, despite a sharp decline in German industrial output. On Wednesday the German industry seemed to be struggling with material shortages and long delivery times and received very few new orders.

All 25 AEX companies were in green. Technology investor Process benefited from a strong recovery in the technology sector and led AEX, with a profit of over 3%. Industrial companies use a lot of gas to make their products, and thanks to the stabilization of suddenly increased gas prices. Steelmaker ArcelorMittal was up 2.4 percent and paint maker Axonobel was up 1.5 percent.

Shell won 0.2 percent. The oil and gas group estimates the impact of Hurricane Ida on the Gulf of Mexico at about $ 400 million. The hurricane struck South America in August. As a result, much of oil production in the Gulf of Mexico has been suspended.

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Ebusco, a maker of electric buses and charging systems, has announced that it intends to head to the Amsterdam Stock Exchange in the coming weeks. Braband hopes to raise around மில்லியன் 300 million through an IPO.

The euro was at $ 1.1568 against the previous day’s $ 1.1535. U.S. oil prices fell 1.3 percent to $ 76.46 a barrel. Brent oil fell 0.6 percent to $ 80.60 a barrel.