In the aftermath of Friday’s bullish day, the new stock market week opened sideways.
The Euro Stoxx 600 index of large European companies is approaching its all-time highs. The index has rallied from last year’s October lows by around 25 percent.
At the time of review, around ten in the morning, the Euro Stoxx 600 index showed a 0.1 percent increase.
In Frankfurt, the DAX index showed an upward slope of 0.3 percent. In Stockholm, the OMXS30 index was up 0.3 percent. Great Britain’s FTSE 100, meanwhile, opened with a 0.2 percent decline.
The Helsinki Stock Exchange opened on Wednesday morning with an upward trend. Moments after the opening, the general index OMXHPI advanced by 0.1 percent at 10,158.47 index points.
Monday is exceptionally quiet, and there is no critical economic data or significant earnings announcements from Europe’s largest markets.
Inflation slowed down in September
In September, inflation in Finland slowed to 0.8 percent from 1.2 percent in August, it is stated Statistics Finland in the review.
The slowdown was explained by a milder increase in the average interest rate on mortgages and lower electricity prices. The increase in prices from a year ago was moderated, among other things, by the drop in fuel prices.
The increase in value added tax to 25.5 percent was seen in varying ways. Although the tax was expected to increase prices by 1.2 percent, only some products immediately became more expensive.
For example, prices in alcoholic beverages, clothes and services rose as expected, but in household and household goods and cosmetics the effect was slower.
Eurozone inflation was 1.8 percent in September.
Tomorrow, Tuesday, Japan’s final and the Eurozone’s forecasted industrial production development figures for August 2024 will be published, among other things.