05/01/2024 – 6:31
By Sergio Caldas
São Paulo, 01/05/2024 – European stock markets are trading lower this Friday morning, as investors are cautious ahead of inflation data from the euro zone and the US employment report, which should help shape expectations for monetary policy this year.
At around 6:15 am (Brasília time), the pan-European Stoxx 600 index showed a drop of 0.80%, at 473.87 points.
Soon, Eurostat will release preliminary consumer inflation (CPI) figures for the euro zone in December. The forecast is for the annual rate to accelerate, as occurred in Germany, a factor that does not encourage the European Central Bank (ECB) to consider the possibility of reducing interest rates this year.
In the coming hours, attention will turn to the payroll, as the US employment report is known. According to analysts compiled by Broadcast Projections, the world's largest economy created 175,000 jobs last month. Yesterday, ADP research on vacancies created only by the North American private sector surprised upwards, cooling bets for the trajectory of US interest cuts expected for 2024.
Back in Europe, a German retail indicator disappointed overnight. Sales in the sector fell by 2.5% monthly in November, much greater than expected.
At 6:29 am (Brasília time), the London Stock Exchange fell 0.64%, the Paris Stock Exchange fell 0.90% and the Frankfurt Stock Exchange lost 0.64%. Those in Milan, Madrid and Lisbon had drops of 0.46%, 0.81% and 0.16%, respectively.
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