Global stock markets have experienced a significant rebound this week, with European and Asian markets leading the gains. The positive momentum comes after a three-week losing streak, as geopolitical tensions eased and robust corporate earnings were reported.
In Europe, the FTSE 100 reached a historic peak, surpassing its previous high in February, with a gain of 2.32%. The Euro Stoxx 600 and the DAX also saw increases of 0.77% and 1.05%, respectively. Healthcare and consumer stocks were particularly strong, with companies like AstraZeneca and Unilever reporting impressive earnings results.
On the banking front, Deutsche Bank and Barclays saw substantial increases in their share prices, rising by 12% and 11%, respectively. Mining stocks also performed well, fueled by BHP’s takeover bid for Anglo American. The Eurozone’s flash manufacturing PMI for April contracted, which is seen as positive news for the stock markets.
In the US, Wall Street is set for a positive close for the week, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all posting gains. Technology stocks rebounded, with companies like Tesla, Alphabet, and Microsoft reporting positive outlooks. However, companies like Netflix and Meta saw declines in their stocks due to weaker-than-expected guidance.
Asian markets also ended the week on a positive note, with Chinese stocks leading the gains. The Hang Seng Index surged by almost 9%, while Japanese markets staged a recovery from a one-month sell-off. Overall, the global stock market rebound reflects improving sentiment and strong corporate performance.