05/24/2024 – 6:37
By Sergio Caldas
São Paulo, 05/24/2024 – European stock markets are trading lower this Friday morning, following a global trend amid concerns about the trajectory of interest rates in the USA.
At around 6:20 am (Brasília time), the pan-European Stoxx 600 index had fallen 0.45%, to 519.23 points.
Yesterday, strong US economic activity data dampened expectations of US interest rate cuts this year and brought down the New York stock exchanges, especially the Dow Jones index. Influenced by Wall Street, Asian markets closed broadly lower today.
Although the European Central Bank (ECB) remains inclined to announce an initial interest rate cut in June, there is uncertainty regarding the path that the Bank of England (BoE) will take, after recent British inflation data surprised upwards.
In the macroeconomic sphere, Destatis confirmed earlier that Germany’s Gross Domestic Product (GDP) grew 0.2% in the first quarter compared to the previous three months, while the ONS reported a much larger drop than expected in German retail sales. United Kingdom in April, 2.3%.
In the coming hours, attention will turn to US economic data, including research on consumer confidence and inflation expectations.
At 6:35 am (Brasília time), the London Stock Exchange fell 0.44%, the Paris Stock Exchange fell 0.21% and the Frankfurt Stock Exchange fell 0.37%. Those in Milan, Madrid and Lisbon had losses of 0.22%, 0.72% and 0.21%, respectively.
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