European stock markets closed mixed this Monday (6) reacting to the forecast of lower-than-expected growth in China and with an eye on Wall Street’s gains. Investors also followed local retail data and speeches by authorities.
In London, the FTSE 100 fell 0.22% to 7,929.79 points, while the DAX index, in Frankfurt, closed up 0.49%, to 15,654.93 points.
The CAC 40, in Paris, advanced 0.34%, to 7,373.21 points, and the FTSE MIB, in Milan, closed up 0.45%, to 27,949.29 points. In Madrid, the Ibex 35 index rose 0.44% to 9,506.30 points.
Finally, on the Lisbon Stock Exchange, the PSI 20 fell 0.43%, to 6,043.11 points. Quotes are preliminary.
Despite the optimism of most companies, following Wall Street, London’s weakness was driven by mining companies, which reacted to China’s growth target lower than expected by the market.
As a result, Glencore dropped more than 3.5%, Antofagasta dropped nearly 1.5% and Rio Tinto lost more than 2.5%.
The loss of momentum in Lisbon, however, was seen in the energy sector, with energy companies EDP and EDP Renováveis ​​down nearly 1.5% and over 3.5%, respectively.
Among prominent European stocks, Telecom Italia rose more than 3%, following the company’s report that it had received yet another offer for its business.
Credit Suisse, meanwhile, fell more than 1% on the Zurich Stock Exchange, on reports that Harris Associates had sold its entire stake in the Swiss bank.
Investors also followed pronouncements by a number of European Central Bank (ECB) officials.
The president of the Portuguese BC, Mario Centeno, said this Monday that patience is needed to assess the effects of interest rates, arguing that inflation is slowing down.
The president of the Austrian BC, Robert Holzmann, defended highs of 50 basis points (bp) in the next four meetings of the European BC, while the president of the institution, Christine Lagarde, assured of a high in this range at the March meeting.
On the indicator agenda, retail sales in the euro zone, which rose less than expected in January compared to December 2022. The increase, according to Oxford Economics, should not offset the low consumption trend of early 2023.
Source: CNN Brasil
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