European stock markets closed higher on Monday (13) reacting to a more optimistic projection regarding growth in the euro zone by the European Commission and speeches by leaders of the European Central Bank (ECB).
In London, the FTSE 100, rose 0.83% to 7,947.60 points, while the DAX index, in Frankfurt, followed the movement and closed up 0.58%, to 15,397.34 points.
The CAC 40, in Paris, advanced 1.11%, to 7,208.59 points, and the FTSE MIB, in Milan, rose 0.63%, to 27,438.61 points.
In Madrid, the Ibex 35 index rose 0.98% to 9,206.80 points. Finally, on the Lisbon Stock Exchange, the PSI 20 dropped 0.90% to 5,892.88 points. Quotes are preliminary.
The European Commission – the executive arm of the European Union – released this Monday a document with new projections for the euro zone.
According to the entity, the expectation is that the region will avoid a technical recession, with the Gross Domestic Product (GDP) growing 0.9% in 2023, above the last projection, of 0.3%.
The markets seem to have preferred to give more weight to this information than to the fact that the result would still mean a slowdown compared to the region’s GDP in 2022, when the European Union advanced 3.5%.
According to an analysis by CMC Markets, investors are also keeping an eye out for pronouncements on upcoming interest rate hikes.
Today, European Central Bank (ECB) directors Mario Centeno and Luis de Guindos stated that decisions after the March meeting will depend on economic data from the euro zone.
In the UK, commodities and energy sectors stood out among the rises, with Polymetal up more than 6%, followed by Antofagasta (up more than 2%) and Glencore (up about 1%).
Source: CNN Brasil
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