06/13/2024 – 6:38
By Sergio Caldas
São Paulo, 06/13/2024 – European stock markets are trading lower this Thursday morning, reversing the positive tone of the previous session, after the Federal Reserve (Fed, the US central bank) worsened its interest rate cut outlook for this year.
At around 6:20 am (Brasília time), the pan-European Stoxx 600 index fell 0.62%, to 519.65 points. The automotive sector sub-index led the losses, with a drop of 2%.
Yesterday afternoon, after European stock markets had already closed higher in reaction to favorable consumer inflation (CPI) data from the US, the Fed left its interest rates unchanged for the seventh time in a row, but also signaled just a rate cut. fees until the end of the year. In March, the American Central Bank predicted three interest rate reductions throughout 2024.
Today, investors will monitor US producer inflation (PPI) data.
In the euro zone, industrial production fell 0.1% in April, according to Eurostat, contradicting the forecast. The Wall Street Journal up 0.1%.
At 6:36 am (Brasília time), the London Stock Exchange fell 0.46%, the Paris Stock Exchange fell 1.02% and the Frankfurt Stock Exchange fell 1.04%. Those in Milan, Madrid and Lisbon had losses of 1.23%, 0.86% and 0.43%, respectively.
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