Bitcoin jumps on US crypto reserve plan; euro rises on Europe’s Ukraine peace push – business live
Cryptocurrencies rally while euro and sterling rise on Keir Starmer’s ‘coalition of the willing;’ European defence stocks jumpsNeil Wilson, analyst at TipRanks, said:European stocks rallied at the start of the month despite fears over tariffs, tracking gains in Asia overnight and a bounce on Wall Street on Friday as US PCE inflation came in as expected, somewhat easing fears about the state of the world’s largest economy. A strong-than-expected Chinese PMI also warmed investor sentiment.There was that conversation in the Oval Office. Europe is rallying round Ukraine and it’s hard to see defence stocks not enjoying years of orders – Rheinmetall, Saab, Leonardo, Thales, BAE Systems, Rolls-Royce, etc. London’s FTSE 100 closed at a record on Friday and extended higher early in trading on Monday, now up 7% so far this year. The Dax also rallied as Rheinmetall surged another 15% this morning. There is suddenly a lot of extra cash for defence.Today, eurozone inflation data is due, but we all know the European Central Bank is going to cut on Thursday anyway and president Christine Lagarde will signal more to come. All that extra defence spending is going to need to be financed somehow and that will require lower interest rates. Continue reading...
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Cryptocurrencies rally while euro and sterling rise on Keir Starmer’s ‘coalition of the willing;’ European defence stocks jumps
Neil Wilson, analyst at TipRanks, said:
European stocks rallied at the start of the month despite fears over tariffs, tracking gains in Asia overnight and a bounce on Wall Street on Friday as US PCE inflation came in as expected, somewhat easing fears about the state of the world’s largest economy. A strong-than-expected Chinese PMI also warmed investor sentiment.
There was that conversation in the Oval Office. Europe is rallying round Ukraine and it’s hard to see defence stocks not enjoying years of orders – Rheinmetall, Saab, Leonardo, Thales, BAE Systems, Rolls-Royce, etc. London’s FTSE 100 closed at a record on Friday and extended higher early in trading on Monday, now up 7% so far this year. The Dax also rallied as Rheinmetall surged another 15% this morning. There is suddenly a lot of extra cash for defence.
Today, eurozone inflation data is due, but we all know the European Central Bank is going to cut on Thursday anyway and president Christine Lagarde will signal more to come. All that extra defence spending is going to need to be financed somehow and that will require lower interest rates.
Continue reading...
