European stock markets closed higher this Thursday (16) in a trading session marked by great volatility, following results from the balance sheets of large local companies. Corporate results from French companies such as Renault and Airbus helped the CAC 40 index in Paris renew its intraday record.
In London, the FTSE 100 rose 0.18% to 8,012.53 points, closing above 8,000 for the first time, while the DAX index, in Frankfurt, rose 0.18% to 15,533.64 points.
The FTSE MIB in Milan closed up 1.16% to 27,853.74 points. In Madrid, the Ibex 35 index rose 0.38% to 9,329.90 points.
Finally, on the Lisbon Stock Exchange, the PSI 20 advanced 0.77%, to 6,001.4 points. Quotes are preliminary.
The CAC 40, in Paris, advanced 0.89, to 7,366.16 points, and renewed its intraday record, to 7,387.29 points.
The increase was driven by balance sheets from companies such as Airbus, which exceeded expectations for profit and revenue in 2022, having risen by more than 4%, and Renault, which exceeded revenue forecast last year and advanced more than 1.5% .
Another balance that influenced the market was that of the German bank Commerzbank, which profited more than expected in 2022, advancing more than 10% in Frankfurt.
On the other hand, Nestlé shares fell more than 2% on the Swiss Stock Exchange, following news that the company recorded a drop in sales in its fourth quarter last year.
Investors also kept on their radar a new bulletin from the European Central Bank (ECB), which indicated that inflationary pressures are more balanced, and speeches by the chief economist of the European Central Bank, Philip Lane, who said that most of the monetary tightening will materialize throughout this year.
Also head of the ECB, Fabio Panetta said this Thursday that lower interest rate hikes can guarantee better monetary calibration.
Despite closing higher, stock markets followed Wall Street’s weakness after US producer inflation data raised fears of further interest rate hikes by the Federal Reserve (Fed, the US central bank), causing volatility. on the exchanges during the trading session.
According to an analysis by CMC Markets, the result reminded markets that while inflation may have peaked, “the fall in prices will not be a straight line and there will likely be many twists and turns along the way”.
The volatility was also driven by prospects of further monetary tightening by Fed Chair Loretta Mester.
Source: CNN Brasil
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