A look at Wednesday morning’s market action
Shares rose in Europe and Asia on an interest rate hike from the Bank of Japan, while global traders set sights on the U.S. rates decision expected later in the day.
Central banks dominated investor attention. Markets are expecting a hold from the U.S. Federal Reserve with signals that cuts are on the way. However, some analysts expect the Fed to stay cautious as the labour market is still tight. Overseas, the pan-European STOXX 600 was up 0.89 per cent in morning trading. Britain’s FTSE 100 gained 1.41 per cent, Germany’s DAX rose 0.50 per cent and France’s CAC 40 increased 1.24 per cent.
Brent crude futures climbed 1.8 per cent to US$80.02 a barrel. U.S. West Texas Intermediate crude futures rose 1.9 per cent to US$76.11 a barrel. Both Brent and WTI had fallen about 1.4 per cent on Tuesday, closing at their lowest levels in seven weeks.
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