European stocks rose on the 5th. It made up for the temporary decline. Selling on concerns about technology companies’ high valuations stalled.
The STOXX Europe 600 index rose 0.2%. At one point, the stock was selling as low as 0.7%. Auto stocks rose on this day. German automaker BMW’s financial results were positive. BMW rose 6.8%. Demand for the company’s new electric vehicle (EV) exceeded expectations. Meanwhile, healthcare-related stocks fell. Danish pharmaceutical giantNovo Nordisk fell 4.5%. The company announced a downward revision to its full-year earnings forecast for the fourth time this year.
In the European bond market, euro area government bonds fell along with US bonds. In addition to suggesting the US economy is resilient, the announcement of the size of the bid also resonated.
Related articles:Maintaining U.S. medium- and long-term bond issuance amount for the next few quarters – Regular quarterly auction (2)
Market attention is focused on the policy decision that the Bank of England (the central bank of England) will announce on the 6th. Short-term money markets are pricing in a 5 basis point (bp, 1bp = 0.01%) rate cut. It was down 2bp from the previous day.
European market overview on November 5th (table as of 6pm in London)
| KK | closing price | Compared to previous business day | rate of change |
|---|---|---|---|
| Stoxx European Stocks 600 | 571.90 | +1.32 | +0.23% |
| UK FT100 | 9,777.08 | +62.12 | +0.64% |
| DAX alone | 24,049.74 | +100.63 | +0.42% |
| French CAC40 | 8,074.23 | +6.70 | +0.08% |
| bond | Latest yield | Compared to previous business day |
|---|---|---|
| German government bond 2 year | 2.00% | +0.01 |
| German government bonds 10 years | 2.67% | +0.02 |
| 10-year UK debt | 4.46% | +0.04 |
原題：European Stocks See Buyers Return After Dip; BMW Lifts Autos
Bunds, Gilts Track US Treasuries Lower: End-of-Day Curves
(excerpt)
— With input from Michael Msika and Kwaku Gyasi
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