The pressures on the European indices are increasing, as the upward trend of the bond yields leads to new sales, mainly in the technological securities.
In particular, the pan-European Stoxx 600 index traded down 0.6% at 441.33 points, with technology falling 1.5%.
The high capitalization of the Stoxx 50 recorded even greater losses of 1% with the index at 3,793 points, while in the sub-European charts the German DAX fell by 1.1% to 14,490 points, the French CAC 40 lost 0.95% to 6,486 points and The British FTSE 100 is down 0.15% at 7,595 points.
In the region, the FTSE MIB in Italy is also under significant pressure, falling by 1.3% to 24,255 points, while in Spain the IBEX 35 is at 8,811 points with -0.3%.
Old Continent markets started the week yesterday with convincing gains of more than 1%, but nervousness is expected to increase in the course of waiting for the critical new data on inflation in the US on Friday.
The strong momentum shown by the world’s largest economy is estimated to give the Fed the opportunity to continue its aggressive monetary policy without causing a recession, but the forthcoming new interest rate hikes are also pushing bond yields, with the impact on markets worldwide.
In this climate, after all, the 10-year US should remain above 3% today, putting pressure on development titles such as technology.
In the political developments monitored by investors, the British Prime Minister Boris Johnson managed to “survive” the motion of censure, although he risks coming out of the process weakened, as 211 deputies voted in favor of his stay in the leadership of the Conservative Party and 148 against.
It is worth noting that 59% of MPs voted in favor of Johnson while in a similar vote in 2018, against then-Prime Minister Theresa May, 63% supported her but resigned seven months later.
Elsewhere in the day, German manufacturing orders fell 2.7% month-on-month as the war in Ukraine continued to affect the industry.
By contrast, industrial production in Spain rose 2.4% year-on-year in April, while analysts forecast a 0.2% drop.
Earlier today, slightly declining trends prevailed in the Asian indices, while in the US, after a session of small gains yesterday, futures show negative signs today (Dow -0.7%).
In individual stock movements, Biffa jumped 28% after the takeover offer received from Energy Capital Partner, which values ​​it at $ 1.69 billion.
In contrast, the British fashion company Ted Baker sank by 20% after its own prospective buyer withdrew his offer.
Source: Capital
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