02/13/2024 – 8:25
By Sergio Caldas*
São Paulo, 02/13/2024 – European stock markets are trading lower this Tuesday morning, after yesterday's gains, while investors digest German and British indicators and await an update on US consumer inflation (CPI).
At around 8:05 am (Brasília time), the pan-European Stoxx 600 index fell 0.38%, to 485.58 points.
In Germany, it was announced that the ZEW index of economic expectations rose more than expected in February, to 19.9 points. The current conditions index, on the other hand, showed further worsening this month.
In the United Kingdom, the unemployment rate fell slightly in the quarter to December, to 3.8%, and wages increased by 6.2% annually in the period, lower than in the three months to November, but slightly above the analyst forecast. Wage pressures tend to lead the Bank of England (BoE) to postpone its expected first interest rate cut.
Also concerned about the trajectory of US basic interest rates, investors in Europe will closely monitor the latest US CPI data, to be released in the coming hours. CPI research usually influences bets on when the Federal Reserve (Fed, the US central bank) might start reducing interest rates.
At 8:23 am (Brasília time), the London Stock Exchange fell 0.19%, the Frankfurt Stock Exchange fell 0.49% and the Paris Stock Exchange fell 0.30%. Those in Milan, Madrid and Lisbon had losses of 0.34%, 0.07% and 0.17%, respectively.
Contact: [email protected]
*With information from Dow Jones Newswires
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