Cautious rise in euro markets with an eye on the macro-economics

Europe’s main markets are attempting to close the stock market week on a positive note, with investors trying to decipher recent macroeconomic data.

In particular, the pan-European Stoxx 600 index showed a slight increase of 0.2% moving to 441.1 points, with the travel and leisure sector increasing by 2.1% while telecommunications fell by 0.4%.

The large cap Stoxx 50 is moving a little better with +0.3% at 3,770 points.

In individual European dashboards, Germany’s DAX is up 0.5% at 13,757 points, France’s CAC 40 is +0.35% at 6,567 points, as is Britain’s FTSE 100 which is up slightly by 0.25% at 7,484 points .

The picture is similar in the markets of the European region, where in Italy the FTSE MIB moves with an increase of 0.4% to 22,953 points, as well as the Spanish IBEX 35 which is at 8,409 points with +0.3%.

Investors, not only in Europe but also globally, continue to evaluate the new macroeconomic data in the US, trying to decipher the intentions of the most powerful central bank on the planet after the deflationary trends shown by inflation in July.

However, the US market yesterday lost its upward momentum at the end of yesterday’s session, after Wednesday’s jump when it was announced that the Consumer Price Index slowed to 8.5% from a 40-year high to 9.1% in June.

Notably, Allianz financial advisor and president of Queens College, Cambridge, Mohamed El-Erian warned that investors should not take too much heart from the positive inflation reading because the Fed is unlikely to slow rate hikes. as the economy is quite strong.

On Europe’s macroeconomic front, the UK economy shrank slightly in the second quarter of the year as the cost of living crisis appears to be weighing on the country.

In particular, the data published showed that Great Britain’s GDP shrank by 0.1% in the second quarter of the year, however, “beating” market estimates that expected a decrease of 0.3%.