Euromarkets consolidate the positive momentum close to + 1.5%

LAST UPDATE: 15.30

The main European stock markets are moving upwards, consolidating their positive dynamics and recovering from last week’s volatility.

Investors, in addition to the inflation rally and the central banks’ moves to tame the rally, are watching developments related to the war in Ukraine, with fighting raging in the east and southeast of the country.

On Monday, more than 260 Ukrainian fighters, including some seriously injured, were evacuated from the Azovstal steel plant, the last stronghold of Ukrainian forces in Mariupol – and relocated to areas under Russian control, according to the Ukrainian military. .

At the same time, Finland and Sweden have announced that they will apply to join NATO, a development that is drawing attention to the reaction of Moscow, which has already expressed its anger at the possible expansion of the North Atlantic Alliance near its borders. Russian President Vladimir Putin stressed on Monday that NATO enlargement “is a problem”.

In this climate, the pan-European index Stoxx 600 adds 1.4% to 439 points, with the core resource industry leading the profit with a rise of 3.4%.

In the individual dashboard, the German DAX gains 1.5% over 14,175 points, the French CAC 40 strengthened by 1.2% to 6,425 points and the British FTSE 100 climbs 0.7% to 7,520 points.

In the periphery, the Italian FTSE MIB records gains of 1.4% at 24,360 points and the Spaniard IBEX 35 it also adds 1.4% to 8,470 points.

In the individual sharesClariant is rallying more than 8% after the Swiss chemical company announced that the – delayed – report on the financial results for the year will be published on May 19 and that it will terminate the management agreement with the largest shareholder Saudi Basic Industries Corporation (SABIC).

At the bottom of the European blue chip index, the Swedish investment company Storskogen Group is losing about 6.5%.

In macro of the day, growth was presented by the euro area economy in the first quarter, although small, despite the spread of Omicron and the Russian invasion of Ukraine, which negatively affected economic performance.

In particular, in the eurozone, GDP grew by 0.3% in the quarter, according to Eurostat, while on an annual basis the economy “ran” at a rate of 5.1%, with estimates for 5% growth.

In the UK, Unemployment fell to its lowest level since 1974 in the first quarter of the year, but rising inflation led to the biggest drop in real earnings (excluding bonuses) since 2013, according to official figures. In particular, unemployment fell to 3.7% from 3.8%, lower than estimates for a fixed percentage, and 1.257 million people out of work were less than the 1.295 million vacancies, for the first time in history.

With Positive stock indexes move positively on Tuesday in the Asia-Pacific regionas China’s progress in the Covid pandemic field overshadows the new losses recorded by the international markets flagship, Wall Street, on Monday.