European markets rose on Tuesday, March 10. Hence, after the previous sessions, the main European indices appear positive, although oil prices remain high.
The CAC 40 closed up 1.89%, while the FTSE MIB led the gains with an increase of 2.55%. In the United Kingdom, the FTSE 100 rose by 1.60%, while in Germany, the DAX recorded a 2.35% gain.
Even more clear was the rise of the IBEX 35 in Spain, which gained 2.92%. Overall, the STOXX Europe 600 also performed positively, increasing by 2.06%, signaling widespread optimism in European markets after the previous three sessions, which had seen overall declines.
Additionally, crude oil returned to a price below 100 dollars per barrel. To be more precise, Brent stood at 92.49 dollars, while West Texas Intermediate returned to 88.13 dollars, with a loss of 7.12% compared to yesterday’s closing session.
The automotive sector also shows signs of optimism. Indeed, after a year of underwhelming sales, the German giant saw its shares rise by 3.60%. In particular, the leading automobile company reported a 53% drop in operating profit year-on-year. A recovery was also seen for Stellantis: after a period of losses, the company opened this morning’s session with a 2.62% gain.
Benedetta Zimone