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Wednesday, March 22, 2023

European stocks rose after two days of decline

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He technological sectorsensitive to interest rates, rose 0.4%supported by the semiconductor rally. Chipmakers ASM International, BE Semiconductor and Aixtron gained between 0.4% and 1.2%. The automotive values they went up a 1%and the automobile manufacturer Stellantis, 3.6%.

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His American peer Nvidia Corporation predicted last wednesday revenue for the first quarter above Wall Street estimateshighlighting a strong push for the use of its chips in artificial intelligence (AI) services such as chatbots.

Other data that contribute to confidence

He also contributed to the trust the fact that the inflation out of the euro zone in january slightly higher than previous estimateconfirming that price growth is already well past its peak.

The minutes of the most recent monetary policy meeting of the United States Federal Reservepublished last Wednesday, showed that almost all the authorities supported the decision of continue to slow down the pace of interest rate hikessignaling that inflation would determine how much more rates would have to rise.

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Data showed that the economic activity in France and Germany was situated in the territory of growthMeanwhile he upturn in business activity in the United States also supported the view that interest rates in both economies will continue to rise for longer.

Source: Ambito

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