[Asia Economy Reporter Yujin Cho] Despite concerns about an economic recession, European stock markets have shown strong upward momentum since the beginning of the year due to continued positive factors. The UK stock market has reached an all-time high.
On the 16th (local time), major European stock markets all opened higher. As of 5:54 PM Korean time, Germany's DAX index was trading at 15,111.85, up 0.064% from the previous trading day, and France's CAC40 index was up 0.05% at 7,027.12.
The UK's FTSE 100 index was up 0.14%, standing at 7,855.02. The FTSE 100 index closed the previous session at 7,794.04, setting a new all-time closing high. Since the beginning of the year, the FTSE 100 index has risen for 8 out of 9 trading days, except for January 10.
Although concerns about a global economic recession are deepening due to prolonged high interest rates, European stock markets have been trending upward since the start of the year.
So far this year, the German DAX index has risen 8.35% (as of the close on the 13th), while the FTSE 100 and CAC 40 indices have increased by 5.26% and 8.49%, respectively.
The rise in European stock markets is attributed to factors such as the euro's shift to strength, reduced risks related to the Ukraine war, easing inflation, and falling energy prices.
As the US inflation rate slows down, optimistic forecasts about a soft landing for the US economy have boosted investor sentiment.
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