Mixed Europe Stocks Await Bank of England
Major European bourses were mixed today, ahead of the Bank of England's policy meeting conclusion.
© Reuters
Economia Bolsas
At 9:35 am in Lisbon, the EuroStoxx 600 was down 0.09% to 515.32 points.
The London and Frankfurt stock exchanges rose 0.04% and 0.29%, while those in Paris, Madrid and Milan fell 0.20%, 1.03% and 0.01%, respectively.
After opening lower, the Lisbon stock exchange maintained the trend, with the main index, the PSI, down 0.14% to 6,716.64 points at 9:35 am.
The market expects the Bank of England meeting to keep rates at 5.25%.
Analysts at Renta4, quoted by Efe, stressed the need to follow the tone of the speech by the Governor of the Bank of England, which could provide clues about the start of rate cuts (the market expects two cuts in 2024, the first of which in August).
"From his words, we will conclude whether his position is more similar to that of the US (waiting for greater control of wages and service prices before starting rate cuts) or to that of Europe (starting to cut rates early in the face of a weak economy)," they explain.
Wall Street closed mixed on Wednesday, on a day when the president of the Federal Reserve (Fed) of Boston, Susan Collins, once again cooled expectations of a rate cut and stressed that the main objective is not rates, but rather to bring inflation to less than 2%.
The Dow Jones ended up 0.44% to 39,056.39 points, against 39,807.37 points on March 28, a new high since it was created in 1986, and the Nasdaq fell 0.18% to 16,302.76 points, against the new high of 16,442.20 points on April 11.
The barrel of Brent oil for delivery in July opened higher today, trading at $84.14 on the Intercontinental Exchange Futures (ICE) in London, against $83.58 on Wednesday.
In terms of exchange rates, the euro opened lower on the Frankfurt foreign exchange market, trading at $1.0735, against $1.0746 in the previous session.
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