(ABM UN) The Brussels stock exchange is expected to open higher on Thursday. Futures on the Euro Stoxx 50 index were half a percent in the green about an hour before the stock market bell. Wall Street will be closed today for Thanksgiving.
The Brussels stock exchange ended the day even higher on Wednesday, with Ackermans & van Haaren and Solvay in particular pulling the star index. The Bel20 won 0.6 percent to 4,213.77 points. A ceasefire in Lebanon and new US inflation figures yielded no surprises.
The PCE inflation report, an important gauge for the Federal Reserve’s interest rate policy, showed US inflation at 2.3 percent in October, down from 2.1 percent in September. This increase was anticipated. Core inflation rose from 2.7 to 2.8 percent, also in line with expectations.
Spending by Americans also rose by 0.4 percent in October, after a plus of 0.6 percent in September. Incomes rose sharply by 0.6 percent in October, after an increase of 0.3 percent a month earlier.
Trading on Wall Street was still quiet on Wednesday, with the main indexes down a few tenths of a percent. The US stock market is closed today for Thanksgiving, and will only be open for half a day on ‘Black Friday’, leaving many traders with a long weekend off. This will also mean that trading volumes on stock exchanges elsewhere in the world will be lower than normal.
The stock exchange in Tokyo was 0.8 percent higher this morning, while Sydney gained just half a percent. In Hong Kong, on the other hand, the Hang Seng index fell more than one percent.
The Bank of Korea unexpectedly lowered interest rates by 25 basis points to 3.00 percent this morning in Seoul. The reduction followed disappointing economic growth in the third quarter of 1.5 percent on an annual basis, while growth of 2.0 percent was expected.
In a statement, the central bank emphasized that inflation has stabilized, while downward pressure on the economy has increased. The KOSPI index in Seoul was narrowly in the green.
The US oil futures were trading more or less unchanged this morning at $68.65 per barrel.
Today, investors are paying attention to, among other things, the provisional inflation in Germany, which will be released at 2 p.m.
Company news
DEME received a contract for the construction of an offshore transhipment terminal at the German seaport Cuxhaven at the mouth of the Elbe. The contract has a value of up to 50 million euros.
In the first nine months of the financial year, the turnover of Payton Planar, the Israeli tech company with a listing in Brussels, increased from $39.8 million to $41.2 million. That is an increase of 4 percent. Net profit amounted to $11.2 million, compared to $11.1 million in the same period last year.
Wall Street closing positions
The S&P 500 closed 0.4 percent lower on Wednesday at 5,998.74 points and the Dow Jones index lost 0.3 percent to 44,722.06 points. The Nasdaq was 0.6 percent lower at 19,060.48 points.
Door: ABM Financial News.
[email protected]
Editorial: +32(0)78 486 481
Bron: ABM Financial News
ABM Financial News is the supplier of stock market news in the Benelux. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
Community trend
Will the stock rise or fall following this news item?
Community trend
You must be logged in to perform this action. Log in or Sign up
