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Analysts expect a decline in the European stock market

According to analysts and financial strategists of the European stock market, the beginning of the new trading day on the penultimate working day of this 45th week of 2023, on November 9, 2023, is in anticipation of the opening of the market in negative values, or the setting of a trading trend in the decline of achieved share prices in previous trading session. The current situation on the foreign exchange market also corresponds to this predicted development, where during the European morning of Thursday 9 November 2023, the exchange value of the single European currency euro (EUR) against the US dollar (USD) recorded a bear market trade trend.

Financial strategists of the European stock market are currently predicting, for example, before the opening of the stock market in Europe, that the London stock index FTSE 100 will open today, 9 November 2023, 23 points lower than at the close of yesterday’s trading day and, according to analysts, the German stock index DAX should fall during the morning opening by 19 points. On the contrary, according to these experts, their profits will be attributed to the stock titles of European companies such as ArcelorMittal, Deutsche Telekom, Henkel or Merck, according to the economic correspondents from the American CNBC led by Holly Ellyat. In the preceding time of Thursday’s European morning, during the American midnight of Wednesday 8/11/2023, the futures of the S and P 500 stock index fell slightly in the USA, where, however, this broader US stock index closed the day in prime trading time with a slight increase in the point value of this index by + 0.10% points. In contrast, the selected stock index DJIA closed the Wednesday trading day on November 8, 2023 in a decrease of -0.12% of the point value.

According to analysts, the current trading trend on the Asian stock market is regionally divided in such a way that mainland China signals a decline and insular Japan a stronger growth, and therefore financial strategists state that the very beginning of European stock market trading is partly influenced by the drop in Chinese stocks. Currently, during the European Thursday morning on 9/11/2023, the Chinese stock index SHANGHAI shows a daily drop of -0.11% of its previous point value, while the Japanese NIKKEI, on the other hand, added +1.49% more points for today’s trading session. The commodity market, which rather reacts to the exchange value of the US dollar and geopolitical events, is currently almost unaffected by the events on the stock market, and the price of oil is still maintained at relatively lower prices below 80 USD per barrel, before the predicted strong increase above 100 USD per barrel in the event of an escalation of the conflict in the Middle East.

Currently, during the European morning of Thursday 9/11/2023, at approximately 7:39 CET, the light American crude oil WTI (West Texas Intermediate) was traded on the NYMEX (New York Mercantile Exchange) commodity market at a value of USD 75.58 per barrel with with a daily growth of + 0.33% of its previous price. In contrast, investment gold saw an outflow of its investors and its price fell by -0.15% to USD 1,954.60 per troy ounce on the indicated day and time. These prices were reached when the exchange value of the USD according to the DXY dollar index was at a value of 105.53 USD points, with a daily decrease of -0.06% of the point value according to this index, which compares the value of the USD with the other six major world currency Thus, on the indicated day and time, the global currency pair EUR/USD traded at a mutual exchange rate at a value of 1.071 USD per EUR in the hitherto balanced trend of the daily movement of both currencies.


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