Meteorologia

  • 16 SEPTEMBER 2024
Tempo
27º
MIN 21º MÁX 36º

European stock markets down, already with eyes on the ECB

The main European stock markets were down today, with investors already looking ahead to Thursday's meeting of the European Central Bank (ECB).

European stock markets down, already with eyes on the ECB
Notícias ao Minuto

09:22 - 04/06/24 por Lusa

Economia BCE

At 09:05 in Lisbon, the EuroStoxx 600 was down 0.31% to 518.23 points.
The London, Paris and Frankfurt stock exchanges fell 0.47%, 0.42% and 0.35%, while those in Madrid and Milan fell 0.35% and 0.65%. After opening lower, the Lisbon stock exchange maintained the trend, with the main index, the PSI, falling 0.78% to 6,864.39 points at 09:05. The market is assuming that the ECB will cut interest rates by 25 basis points, which will be the first cut since March 2016. Meanwhile, on Wall Street, the main indicators closed in mixed territory, on a day when the industrial sector showed signs of slowing, which caused a drop in debt yields and the dollar. The Dow Jones ended down 0.30% to 38,571.03 points, against a new high since it was created in 1896, of 40,003.59 points, recorded on May 20, and the Nasdaq, created on February 08, 1971, rose 0.56% to 16,828.67 points, against the new high of 17,019.88 points, recorded on May 28. Investors are already awaiting the May employment data, which will be released on Friday, with expectations of an economic slowdown sufficient for the Federal Reserve (Fed) to cut rates soon. Similar to Wall Street, Asian markets also traded with a mixed trend this morning. The Hang Seng in Hong Kong and the Shanghai Stock Exchange rose, while the Nikkei in Tokyo ended lower. Several macroeconomic data will be released today, such as German unemployment. In Spain, employment increased by 220,289 people, the best May since 2018, and unemployment fell to 2.6 million people. In the US, and before the aforementioned official employment report, the JOLTS survey on job openings will be released today. In the commodities market, Brent, the European benchmark Brent crude, continues to fall today, after falling more than 3% on Monday. The barrel of Brent oil for delivery in August opened today at $ 77.41 on the Intercontinental Exchange Futures (ICE) in London, against $ 78.36 on Monday. Interest rates on the 10-year German bond, considered the safest in Europe, fell to 2.546%, against 2.579% on Monday. At the exchange rate level, the euro opened higher on the Frankfurt foreign exchange market, quoted at 1.0888 dollars, against 10885 dollars in the previous session.
Read Also: Euro rises against the dollar with the market awaiting the ECB (Portuguese version)

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