[Europe Open] Early Rise in Stocks... UK Up After Emergency Fiscal Statement Released
[Asia Economy Reporter Jeong Hyunjin] European stock markets are showing an upward trend in early trading on the 17th.
According to Bloomberg News, as of 4:03 PM Korea time, the UK FTSE100 index is trading at 6,876.17, up 0.25% from the previous trading day. The French CAC40 index is up 0.33% at 5,951.32, and the German DAX index is trading at 12,479.35, up 0.33%.
The Euro Stoxx 50 index is trading at 3,391.56, up 0.29%.
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The market is focusing on the direction of the UK economy. Since UK Prime Minister Liz Truss withdrew the tax cut plan, attention is on whether the pound, which had been plunging, can rebound following an emergency statement on the medium-term fiscal plan issued today by the new Chancellor of the Exchequer, Jeremy Hunt.
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