28 Jan 2022
European Stocks Tumble while H&M Advanced during Fourth Quarter Trades
The Index Today
European stocks toppled on Friday following the U.S. Federal Reserve’s recent hawkish stance which allows for as many as five interest rate hikes to be implemented this year. This slump has also been informed by the ongoing geopolitical tensions between Russia and Ukraine.
DAX futures in Germany dipped by 0.2% by 3:10am ET, while the U.K.’s FTSE 100 and France’s CAC 40 dropped by 0.6% each.
H&M stock surged by more than 5% following reports that the company exceeded its fourth quarter estimates in 2021 and is on track to double its sales by 2030. LVMH also soared by 3% following a bullish Q4 performance complemented by growing demand for its luxury goods and products.