The FTSE 100 hit a 3-week high on Tuesday, fueled by cool labor data that increased bets on a rate cut by the Bank of England. UK shares rose by 0.8%, reaching their highest level since February 20. The slip in the pound and bond yields, along with slowing domestic wage growth, boosted hopes for monetary policy easing.
In European markets, shares opened higher on Tuesday, supported by strong corporate earnings. Investors were eagerly awaiting key U.S. inflation data for insights into the Federal Reserve’s interest rate-cut trajectory. The pan-European STOXX 600 was up 0.4%, just shy of a record peak touched the previous week.
Meanwhile, in India, Vishal Mega Mart is planning a $1 billion IPO that would value the budget supermarket chain at up to $5 billion. The IPO proceeds will be used to add stores, with Switzerland’s Partners Group and India’s Kedaara Capital planning to sell shares in the offering.
In the stock market view, experts emphasized the importance of thorough research and fair value investing, especially in the SME IPO market. Regulatory bodies like NSE and BSE were urged to strike a balance to foster investor participation while limiting manipulative practices.
Overall, global markets were showing mixed trends, with a focus on upcoming economic data releases and corporate developments. The news of potential rate cuts and IPOs added to the market excitement, while caution was advised in navigating the volatile market conditions.
