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EU and UK Stock Markets Start the Week Positively

Today, Monday, the stock markets in major European countries—Germany, France, Italy, and the UK—opened the week on a positive note. This reflects a broad optimism in the European financial markets.

The Bank of England (BoE) is scheduled to announce its key interest rate decision on Thursday. Analysts widely expect that the BoE will keep the base rate unchanged. Current inflation data does not yet support a rate adjustment. However, insights from the accompanying press conference may provide clues regarding the future trajectory of interest rates.

Goldman Sachs has increased its year-end target for the S&P 500 Index from 5,200 to 5,600 for 2024. This optimistic revision is driven by the robust earnings growth of five major US tech stocks and a reassessment of the fair value multiple for the price/earnings ratio. This adjustment reflects Goldman Sachs’ confidence in the continued strength of the US stock market.

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