European stock markets traded higher on Thursday, with investors reacting positively to the Federal Reserve's move to tackle inflation ahead of policy decisions by both the European Central Bank and the European Central Bank. Europe and the Bank of England.
At 3:45 a.m. ET (0845 GMT), the DAX in Germany was trading 1.8% higher, the CAC 40 in France was up 1.5% and the UK's FTSE 100 was up 1.1%.
These gains follow the US central bank's announcement late Wednesday that it will accelerate cuts to its asset-buying program, while also projecting three rate hikes early in the year. 2022.
This shows that Fed policymakers consider the US economy strong enough to handle the Omicron variant of Covid-19 as well as tightening monetary policy as they move to tackle high inflation.
There was more central banking activity in Europe on Thursday, with both the European Central Bank and the Bank of England having to balance the need to support economies threatened by the Covid-19 virus with the expectation of want to combat inflationary pressures.
Shares of Boohoo (LON:BOOH) tumbled more than 15% to a five-year low, after the British online fashion retailer cut its guidance for 2021-22, according to company news. international delivery disruptions and pandemic-related cost inflation.
Shares of EDF (PA:EDF) fell nearly 9% after the French power company announced it was shutting down its second nuclear plant due to safety issues. This shutdown accounts for about 10% of its reactor capacity, as Europe is calling for more energy and could lose more than 200 million euros in EBITDA expected this year.
Shares of Telecom Italia (MI:TLIT) fell 0.6% after the Italian phone group issued its third profit warning of the year, while also facing a takeover approach from the US fund KKR .
On the other hand, shares of Valneva (PA: VLS) rose more than 10% after the French biotech company released positive clinical trial results of its Covid-19 vaccine candidate, while shares of Valneva (PA: VLS) rose more than 10%. Novartis (SIX:NOVN) shares rose 3% after the Swiss pharmaceutical giant announced a new $15 billion share buyback to be done by the end of 2023.
Shares of Airbus (PA:AIR) rose 3.1% after Qantas Airways selected the European aircraft maker as its preferred supplier to replace its domestic fleet, moving from Boeing (LON:SBA) (NYSE) :BA) before.
