Apr 23, 2024 (MENAFN via COMTEX) --
(MENAFN) The global financial landscape saw a rebound as major indices on Wall Street made strides to recover from the previous week's downturn, buoyed by easing tensions in the Middle East. Investor focus has now shifted to eagerly anticipated earnings reports from key technology players like Alphabet, Intel, Microsoft, Tesla, and Meta.
In yesterday's trading, the Dow Jones index saw a modest uptick of 0.13 percent, equivalent to a 45-point gain, while the Standard & Poor's and Nasdaq indices both posted gains of 0.26 percent. Attention also turned to the upcoming meeting of the US Federal Reserve scheduled from April 30 to May 1, with market participants keenly anticipating any signals regarding monetary policy.
Across the Atlantic, European stocks experienced a positive trend as traders awaited earnings releases from major banks. Notably, Portuguese company GALP saw its shares soar to a 16-year high following encouraging results from gas exploration activities in Namibia. The European Stoxx 600 index climbed 0.5 percent, with banks leading the gains.
This week, European bank earnings will take center stage as investors seek insights into the impact of rising interest rates on profitability and the sustainability of the stock market's upward trajectory. Among the notable earnings announcements expected are those from BNP Paribas, Deutsche Bank, Barclays, and Lloyds.
Key stock movements included a significant surge of 17 percent in Galp Energia's shares, driven by the company's announcement of promising findings in the Mopane oil field off Namibia's coast. Additionally, Alstom stock saw a notable increase of 4.9 percent following its agreement to divest its North American traditional rail signaling business unit to German counterpart Knorr-Bremse for approximately 630 million euros (USD671 million).
In Japan, the Nikkei index rebounded, recouping losses from the previous session, albeit tempered by a decline in chip-related stocks. The Nikkei closed up 1 percent at 37,438.61 points, with the broader Topix index also rising by 1.38 percent to 2,662.46 points. The majority of stocks listed on the Tokyo Stock Exchange saw gains, with only a few sectors experiencing minor declines. Overall, global markets exhibited resilience in the face of geopolitical tensions, with investor attention turning towards upcoming earnings reports and central bank meetings for further direction.
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COMTEX_451289926/2604/2024-04-23T12:11:28
