Controlled regression in the European markets

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Profit moves appear to be prevailing in the sessions of the main European stock exchanges, as investors expect the new data on US inflation at the end of the week.

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In particular, the pan-European Stoxx 600 index trades with small losses of 0.4% at 442.49 points, with the technology under pressure moving to -1.1%.

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The high capitalization of the Stoxx 50 lost 0.7% with the index at 3,811 points, while on the individual European charts the German DAX fell by 0.8% to 14,534 points, the French CAC 40 lost 0.65% to 6,506 points, while the British FTSE 100 is around unchanged at 7,605 points.

The indices in the region are also slightly declining, where in Italy the FTSE MIB falls by 0.5% moving to 24,450 points, while in Spain the IBEX 35 is at 8,821 points with -0.2%.

Old Continent markets started the week yesterday with convincing gains of more than 1%, but it is expected that the nervousness will increase in the course of waiting for the critical new data on inflation in the US on Friday.

The strong momentum shown by the world’s largest economy is estimated to give the Fed the opportunity to continue its aggressive monetary policy without causing a recession, but the forthcoming new interest rate hikes are also pushing bond yields, with the impact on markets worldwide.

In the political developments monitored by investors, the British Prime Minister Boris Johnson managed to “survive” the motion of censure, although he risks coming out of the process weakened, as 211 deputies voted in favor of his stay in the leadership of the Conservative Party and 148 against.

It is worth noting that 59% of MPs voted in favor of Johnson while in a similar vote in 2018, against then-Prime Minister Theresa May, 63% supported her but resigned seven months later.

Elsewhere in the day, German manufacturing orders fell 2.7% month-on-month as the war in Ukraine continued to affect the industry.

By contrast, industrial production in Spain rose 2.4% year-on-year in April, while analysts forecast a 0.2% drop.

Source: Capital

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