European markets closed slightly higher today, with the regional Stoxx 600 index finishing 0.28% up. Most sectors ended in the green, with utilities rising by 1.1% and autos up by 0.96%. However, healthcare stocks saw losses, down by 0.02%.
In other news, the upcoming U.K. election is looking challenging for the Conservative party, according to analyst Laurent Balt. He predicts that the Conservatives may get an “unprecedentedly low number” of seats in parliament, with current polling suggesting they may only secure close to 100 seats.
Meanwhile, business sentiment in Germany missed expectations for the month of May, according to a survey by the country’s Ifo Institute. The ifo Business Climate Index remained at 89.3 points, falling short of a Reuters poll forecast of 90.4. Manufacturing, trade, and construction are showing signs of recovery, while services saw a slight decline.
On the monetary policy front, ECB’s Olli Rehn suggested that it may be time to cut rates in June as inflation in the euro area continues to fall. Inflation held steady at 2.4% in April, marking the seventh consecutive month below 3%.
Overall, European markets are expected to open higher, with France’s CAC 40, Germany’s DAX, Italy’s FTSE MIB, and Spain’s IBEX all showing positive signs. U.K. markets are closed for a national holiday.
In the world of investing, Nvidia shares have seen a 15% weekly gain following better-than-expected earnings, while Bank of America has identified four ETFs for exposure to precious metals amid rising prices for gold and silver.
Stay tuned for more updates on the global economy and financial markets.
