European stock markets mostly rose on Wednesday (8) reversing earlier losses. Investors evaluated data from the region and also new statements by Federal Reserve (Fed) President Jerome Powell, in this case already close to the local closure.
In London, the FTSE 100 rose 0.13% to 7,929.92 points, while the DAX index, in Frankfurt, closed up 0.46%, to 15,631.87 points. The CAC 40, in Paris, fell 0.20%, to 7,324.76 points, and the FTSE MIB, in Milan, closed up 0.54%, to 27,911.52 points.
In Madrid, the Ibex 35 index rose 0.64% to 9,471.50 points. Finally, on the Lisbon Stock Exchange, the PSI 20 rose 0.43% to 6,056.29 points. Quotes are preliminary.
European markets operated during part of the trading session in decline, extending yesterday’s losses after market expectations for a high of 50 basis points (bp) by the Fed grew with Powell’s speech on Tuesday in the US Senate .
However, the picture improved throughout the day, confirming the major gains. This Wednesday, speaking in the House of Representatives, the president of the American Central Bank said that there is still no final decision for March, which gave specific support to the stock markets on both sides of the Atlantic.
The London Stock Exchange has also benefited from the perspectives of Swati Dhingra, director of the Bank of England (BoE), that the forecast is that inflation will slow down throughout this year, which the British BC can do be less hard on your monetary squeeze.
Earlier, the exchanges were pressured by the downward revision of the Gross Domestic Product (GDP) of the euro zone. In the view of Capital Economics, the region is heading towards a recession this year, and should also show weakness in 2024.
Mixed data from Germany were also on the radar of investors, such as the higher-than-expected increase in industrial production in the country and the unexpected drop in retail, both referring to January compared to December.
Among the companies highlighted in the session, Continental rose by more than 7% in Frankfurt, following its 2022 results and forecast for 2023, which pleased investors.
Also on the German Stock Exchange, Volkswagen advanced about 1%, after announcing that it is suspending a battery factory, previously planned for Eastern Europe, in order to prioritize a similar factory in North America.
Source: CNN Brasil
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