Wed. Jun 7th, 2023

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European stocks are now stable and trading higher

1 min read
european shares

European stocks traded higher Tuesday morning as investors shifted their focus to upcoming central bank meetings by the U.S. Federal Reserve, Bank of Japan and Bank of England.

The pan-European Stoxx 600 added 0.5% by mid-morning following a muted open, with retail stocks adding 1.6% to lead gains while financial services edged 0.2% lower.

Investors in Europe are looking ahead to the results of the latest U.S. Federal Reserve meeting taking place Tuesday-Wednesday, although the central bank is not expected to make any changes to its monetary policy stance and reacting to the latest data from China.

Meanwhile, stocks in Asia-Pcific were mostly higher after data showed retail sales in China rose 0.5% in August from a year ago — the first positive report for the year so far — according to the country’s National Bureau of Statistics. Still, retail sales for the first eight months of the year were down 8.6% from a year ago, the bureau said.

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