European stocks close higher, driven by banking sector

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European stock markets recorded gains on Friday (9).

The outlook for higher rates tends to be negative for equities in general, but is often supportive of the banking sector, which was during the day.

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In addition, trading in Asia was positive earlier, with inflation indicators in China reinforcing the perception of some analysts that there may be more stimulus soon in the Asian power.

The pan-European Stoxx 600 index closed up 1.52% at 420.37 points. In the weekly comparison, it rose 1.06%.

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After the European Central Bank (ECB) raised interest rates by 75 basis points on Thursday, banking stocks stood out in some markets in the region.

In Frankfurt, for example, Deutsche Bank and Commerzbank posted increases of more than 3%, a level also surpassed by Santander in Madrid, while in Milan Intesa Sanpaolo was up more than 5%.

This Friday, ECB President Christine Lagarde reaffirmed her commitment to reducing inflation so that it returns to the 2% target.

The European picture was also boosted by positive trading in Asia. Weaker inflation data in China reinforced the prospect that the People’s Bank of China (PBoC) can support the country’s economy more, with interest rate cuts in particular.

In the United Kingdom, news about the realization was monitored, and the Bank of England (BoE, its acronym in English) announced that it had postponed its next meeting by a week, from the 15th to the 22nd, after the death of Queen Elizabeth II, on Thursday. at age 96.

Despite the positive day on the stock markets, there is still concern about the energy sector, with the gas cuts in Russia. European energy ministers were debating plans for intervention in this market at an emergency meeting.

On the London Stock Exchange, the FTSE 100 index closed up 1.23%, at 7,351.07 points. In the weekly comparison it advanced 0.96%.

In Frankfurt, the DAX index registered a gain of 1.43%, at 13,088.21 points. For the week, the index rose 0.29%.

On the Paris Stock Exchange, the CAC 40 index rose 1.41% to 6,212.33 points, with a weekly gain of 0.73%.

In Milan, the FTSE MIB index advanced 1.92% to 22,094.56 points.

On the Madrid Stock Exchange, the IBEX 35 index rose 1.47% to 8,033.10 points, with a weekly gain of 1.27%.

In Lisbon, the PSI 20 advanced 0.34%, to 5,985.95 points.

Source: CNN Brasil

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