European stocks close higher, with UK retail and ECB speeches

Stock markets in Europe closed on Friday (18th) higher, after recent falls and in a session marked by retail data from the United Kingdom and speeches by directors of the European Central Bank (ECB).

In London, the FTSE 100 rose 0.53% to 7385.52 points, while the CAC 40 in Paris advanced 1.04% to 6644.46 points and the FTSE MIB in Milan closed higher of 1.38%, to 24675.18 points. In Madrid, the Ibex 35 index rose 1.00% to 8,117.90 points. The DAX index, in Frankfurt, followed the movement and closed up 1.16%, at 14,431.86 points. Finally, on the Lisbon stock exchange, the PSI 20 increased by 0.48%, to 5766.02 points. Quotes are preliminary.

This Friday, the president of the ECB, Christine Lagarde, reinforced that the central bank will continue to raise interest rates to control inflation, in search of the target of 2% in the medium term, suggesting a restrictive level. According to her, the role of the ECB is to persist with policies for an “extended period”.

Also in a speech this Friday, the ECB leader Klaas Knot highlighted that the QT monetary tightening should only be used as a “background tool”.

According to him, it is likely that the European Central Bank will reduce the pace of increases in interest rates, initiating more varied tactics.

The United Kingdom’s statistics body published this Friday that retail sales in the country expanded by 0.6%, slightly below analysts’ expectations.

According to CMC Markets, the increase managed to influence the stock markets in Europe. “As we look towards the end of the year, the pressure on the UK consumer is unlikely to ease, although we could see a recovery in retail spending ahead of Christmas.”

Among the highlights in European equities, CMC Markets highlights JD Sports, which improved its shares after its American correspondent Foot Locker updated its outlook for the year after beating third-quarter results. On the London Stock Exchange, the company closed up more than 3.9%.

Another highlight is BHP, which rose during the trading session after the company increased the proposed value offer to buy its Australian rival, Minerals, with a total sum valued at US$ 6.34 billion. The company closed with an increase of more than 0.8%.

Source: CNN Brasil

You may also like