The US Federal Reserve will announce its interest rate decisions in the evening after the closing of the Helsinki Stock Exchange.
Helsinki the stock market closed on high for the second day in a row on wednesday. Investors ’gaze is on the US Federal Reserve’s interest rate decision today.
The general index OMXH had risen 1.8 percent to more than 12,000 points when the stock market closed. The index sank below this ghost line during a sharp correction on Friday and Monday.
On Tuesday, the general index rose 1.4 percent to 11,896.61 points. From the beginning of the year, the index is still close to six percent.
In the United States, stock markets opened up. The S&P 500 index was about 1.3 percent above yesterday’s closing reading on Wednesday at 18.50 Finnish time. The technology-focused Nasdaq, on the other hand, was just over 2 percent positive.
The rise of the Helsinki Stock Exchange has been extensive on Wednesday. Of the industries, the technology companies that suffered from the fall in share prices had risen the most. The industry index following technology stocks was more than three percent positive during the day.
Of the more traded shares, all were elevated. The most traded companies of the day were Nokia, Neste and Sampo. Nokia and Sampo closed up more than 2 percent. Liquid was on a strong rise during the day, but the rise waned towards the evening, with the stock closing 0.5 percent positive.
Wärtsilä, which announced its results on Friday, rose more than 3 percent and software company Qt Group more than 4 percent.
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The share of Kreate Group’s infrastructure builder in the morning is one of the strongest shares. The share price was bounced by more than seven percent due to increased earnings and a strong order backlog.
The United States The central bank will announce the decision of its two-day meeting after the closing of the Helsinki Stock Exchange at 9 pm Finnish time.
The market is watching for possible hints by the central bank about tightening monetary policy faster than expected.
Nordea Bank expects an even stronger message from the Fed that a decision will be taken at the next meeting in March to raise the key interest rate by 0.25 percentage points. The key interest rate is currently in the range of 0.00-0.25%.
“The Fed can seek to calm the market volatility of recent days by countering rumors of a faster tightening of monetary policy. Due to the uncertain market situation, the Fed is unlikely to take a strong stance on the timetable for quantitative tightening, ”Nordea analysts said in their morning report.
Economists expect the Fed to raise its key interest rate by 0.25 percentage points 3-4 times this year to dampen high-wake inflation.
Read more: The Helsinki Stock Exchange has plunged into the pipeline for two days – those who have invested in these companies have suffered the most
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