Financial Markets Daily Report05 September 2023
Yesterday’s session saw thin trading volumes in the market due to a holiday in the US. Chinese stocks ended higher, as authorities stepped up efforts to support a struggling property sector. The Shanghai CSI 300 index was up 1.4%, led by strong gains in developer companies, and drove stocks up all across Asia.
- Yesterday’s session saw thin trading volumes in the market due to a holiday in the US. Chinese stocks ended higher, as authorities stepped up efforts to support a struggling property sector. The Shanghai CSI 300 index was up 1.4%, led by strong gains in developer companies, and drove stocks up all across Asia.
- The Chinese rally led the main European indices up as well, a trend later reversed by Lagarde’s comments, who offered little hints on the next ECB move at a speech she was delivering. European sovereign bond yields rose across the board on Largarde’s lack of guidance.
- In commodities, the European natural gas benchmark TTF fell 5.7% as traders continue to monitor negotiations over a potential strike at a major Australian producer. The barrel of Brent crude rose 0,5% to $89 a barrel, its highest level so far this year.