Euro markets: With rebound, it reduced the losses in the week to -1.3%

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Major European stock markets closed lower on Friday, reducing losses on the week, with investors trying to gauge the course of the global economy and corporate profitability in an environment of high inflation and tighter monetary policy.

European markets followed the Asian pace, after the stock markets in the Asia-Pacific region recorded strong gains, after the decision of the People’s Bank of China to reduce its interest rates. In particular, the country’s central bank decided to reduce the interest rate on five-year loans by 15 basis points, to 4.45% from 4.6%, in a move to stimulate growth, as it will help reduce the cost of financing for companies in difficulty. The interest rate on one-year loans remained unchanged.

The pan-European index Stoxx 600 added 0.73% to 431.10 points, with the travel and leisure sector climbing 2% and leading the profits. On a weekly basis, the European markets closed in the “red” with a fall of 1.3%.

In the individual dashboard, the German DAX gained 0.72% to 13,981.91 points, the French CAC 40 rose 0.2% to 6,285.24 points, while the British FTSE 100 with a jump of 1.19% climbed to 7,389.98 points.

In the periphery, the Italian FTSE MIB strengthened by 0.12% to 24,195 points, while the Spanish IBEX 35 added 0.93% to 8,484.50.

In the individual sharesthe Danish Rockwool International rose 8% and was at the top of the Stoxx 600, while at the bottom of the index, the Swiss luxury goods company Richemont recorded a “dip” of 13%.

Investors continue to watch the war in Ukraine and the geopolitical implications of the war that have led to an unprecedented rally in fuel and food prices. The United Nations World Food Program has warned that a failure to open ports in Ukraine would be a declaration of war on global food security.

In macro Today, data released in Germany showed that producer prices jumped 33.5% year-on-year in April, setting a new record.

In Britain, retail sales rose unexpectedly in April, according to government figures released today. In particular, retail sales volumes increased 1.4% in the previous month compared to March, while economists expected that sales would decline by 0.3%.

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Source: Capital

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