Meteorologia

  • 18 OCTOBER 2024
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18º
MIN 16º MÁX 22º

European stock markets mixed ahead of ECB inflation outlook

The main European stock exchanges were mixed today, in a session in which the market recovers the references of the Wall Street and London markets, and waits to know the inflation expectations of the European Central Bank (ECB).

European stock markets mixed ahead of ECB inflation outlook
Notícias ao Minuto

09:35 - 28/05/24 por Lusa

Economia BCE

At 9:05 am in Lisbon, the EuroStoxx 600 was down 0.01% to 522.11 points.

The London and Paris stock exchanges fell 0.13% and 0.15%, while Frankfurt, Madrid and Milan rose 0.22%, 0.21% and 0.15%.

After opening higher, the Lisbon stock exchange maintained the trend, with the main index, the PSI, up 0.11% at 09:05 to 6,945.82 points.

On a day with little macroeconomic data, the market today recovers the references from Wall Street and London, whose exchanges were closed on Monday due to the Memorial Day holiday in the US and the Spring Bank Holiday in the UK.

Futures on the main Wall Street indicators point to a higher open.

Today, the ECB's inflation expectations and the Conference Board's consumer confidence in the US will be released, where statements from several members of the Federal Reserve (Fed) are also expected.

In the meantime, the market is already waiting for the release of important data on Thursday, such as inflation in May in Spain and the Gross Domestic Product (GDP) for the first quarter in the US, while on Friday the CPI data for the euro zone and personal consumption expenditure (PCE) for April in the US will be announced.

The inflation data will be crucial for the monetary policy decisions of central banks, including the ECB, which meets on June 6, when it is expected to cut interest rates.

The market is also awaiting the OPEC+ meeting on Sunday, where production cuts are expected to be extended into the second half of the year, according to analysts at Renta4 quoted by Efe.

The price of a barrel of Brent oil for delivery in July opened lower today, trading at $83.03 on the Intercontinental Exchange Futures (ICE) in London, compared to $83.10 on Monday.

The interest rate on the 10-year German bond, considered the safest in Europe, rose to 2.544%, compared to 2.546% on Monday.

In terms of exchange rates, the euro opened higher on the Frankfurt foreign exchange market, trading at 1.0875 dollars, compared to 1.0860 dollars in the previous session.

Read also: European stock markets rise with London and Wall Street closed (Portuguese version)

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