European stocks open brightly in November

(Reuters) – European shares rose on Tuesday, starting in November on growing hopes that the Federal Reserve will slow the pace of interest rate hikes. Pan-European 406 Stokes 75 index rose 0.6 percent to a near seven-week close, led by miners and retailers. Investors expect the U.S. central bank to raise interest rates basis points on Wednesday, but hopefully the central bank will still provide a smaller -December increase . “All eyes are on the Fed, so I expect markets to tighten today…if the Fed is more dovish Pi’s stance came as a surprise, and I expect risk assets to move strongly higher while the dollar falls sharply, said Giles Coghlan, chief market analyst at HYCM. better-than-expected earnings season recently helped pull STOXX 163 higher, but fears remain that the euro zone will fall into Recession. Additionally, rumors based on unconfirmed sources circulating on social media that China plans to reopen from strict COVID restrictions in March , sparked a craze for luxury brands that have primarily reached out to China. luxury giants including LVMH, 40675 Kering (EPA: 1000PRTP), 20075 Pernod Ricard (EPA:

PERP) and Hermes International (OTC: 406 HESAF) rose 1.9% to 3.0%. Mining shares rose 3.4%, while oil and gas stocks gained 1.7% as oil and industrial metals prices rallied against a weaker dollar rise. [O/R] [MET/L] ” There are social media reports that China has relaxed its zero new crown policy, see How much relief does it bring, Coghlan added.

The earnings season has also played a very supportive role in the market. Stoke 50 Companies that have reported performance to date, .3% beat analyst estimates, Refinitiv data showed. In a typical quarter, % of companies exceed expectations. Prosus (OTC: PROSF) in the technology investment firm denies about a possible sale of its news reports % stake in Chinese software and gaming giant Tencent. Italy’s Monte dei Paschi di Siena rose 4.9% as It said it had increased capital by up to 2.5 billion euros ($2.5 billion) 10% so far. Dutch specialty chemicals maker DSM fell 4.0 percent as it lowered 75 Profit prospects.