Stock markets in Europe closed Monday (9) higher, in a trading session marked by unemployment data in the euro zone and German industry, as well as indications from central banks on interest rates for the next monetary policy meetings.
In London, the FTSE 100 rose 0.33%, to 7,724.94 points, while the CAC 40, in Paris, advanced 0.68%, to 6,907.36 points, and the FTSE MIB, in Milan, closed higher of 0.81%, to 25,385.09 points. In Madrid, the Ibex 35 index rose 0.11% to 8,710.40 points. The DAX index, in Frankfurt, followed the movement and closed up 1.25%, at 14,792.83 points. Finally, on the Lisbon Stock Exchange, the PSI 20 rose 0.30% to 5,926.86 points. Quotes are preliminary.
This Monday, a bulletin from the European Central Bank (ECB) indicated a forecast of “very strong” advancement in wages in the euro zone in the coming months, due to the solidity of the region’s labor markets.
With an eye on possible inflationary effects, the European Central Bank assesses that the increase in uncertainties should restrict the advancement of wages, under analysis beyond the short term, factors that enter the radar of investors by indicating directions for the next interest rate hikes.
Indicator also seen by the ECB when defining monetary policy, which affects the financing of companies, the unemployment rate in the region remained at the historic low of 6.5% in November, according to Eurostat.
Also keeping an eye on inflation, the chief economist of the Bank of England (BoE), Hull Pill, reaffirmed his commitment to contain prices in the United Kingdom, with inflation still “very high”. Pill also said that the end of China’s zero covid policy could mean risks for production bottlenecks.
In Germany, industrial production grew by 0.2% in November compared to October, showing firmness despite the energy crisis, evaluates Capital Economics. In the annual comparison, production fell, but, according to an analysis by Commerzbank, the data indicate that the German economy did not contract in the fourth quarter of 2022, despite the drop in demand, due to the accumulation of orders.
Investors also reacted to the reopening of China’s borders with Hong Kong, with stocks rising on the news.
Among the highlights of the trading session is Polymetal, which increases the registered gains of the week, registering an increase of more than 12% in the London Stock Exchange. Another commodity-related company, Antofagasta, rose more than 4% on the same exchange.
Source: CNN Brasil
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