European stock markets close lower, with local data and awaiting BCs

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European stock markets closed mostly lower on Monday (30) in a trading session marked by data from the euro zone above expectations and with an unexpected drop in Germany’s Gross Domestic Product (GDP).

Investors also remained cautious awaiting the next interest rate decision by the European Central Bank (ECB), the Bank of England (BoE, its acronym in English) and the Federal Reserve (Fed, the US central bank).

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In London, the FTSE 100 rose 0.25% to 7,784.87 points. The CAC 40, in Paris, fell 0.21%, to 7,082.01 points, and the FTSE MIB, in Milan, closed down 0.38%, to 26,335.98 points.

In Madrid, the Ibex 35 index dropped 0.04% to 9,056.40 points. Finally, on the Lisbon Stock Exchange, the PSI 20 dropped by 1.02% to 5,876.20 points. Quotes are preliminary.

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The DAX index, in Frankfurt, closed down 0.16%, at 15,125.89 points. With the unexpected drop in Germany’s GDP in the fourth quarter of 2022 compared to the third, the forecast for Commerzbank is that the country will experience a recession, even if mild.

Capital Economics is firmer, noting that the data was a “damn of cold water” on recent expectations that Germany and the eurozone as a whole could avoid a technical recession.

Another data from the euro zone that was on the radar of investors was the economic sentiment index, which advanced beyond expectations.

However, despite being considered “good news” by High Frequency Economics, the suspicion is that the movement began with the procurement of natural gas by Germany, so that the cold weather in February and March could change the “good” expectations “in a blink of an eye”.

According to an analysis by CMC Markets, markets are also awaiting the ECB, BOE and Fed interest rate decision meetings, which will have the potential to “introduce high levels of volatility”.

On Monday, among the highlights of the shares are the shares of Philips, which rose more than 7% on the Amsterdam Stock Exchange after the health technology company said it would cut 6,000 jobs by 2025.

CMC Markets draws attention to Sainsburys shares, which rose more than 3.5% at the top of the London Stock Exchange, with rumors that the company may be looking to make a major acquisition.

Commerzbank, in turn, rose by almost 1%, after indicating that it had a positive EBITDA in 2022.

Source: CNN Brasil

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