The European stock markets open with strong rises and with an eye on the ECB

The European stock markets have opened this Thursday with increases of more than 1.50%, in a day that is expected to be highly volatile, just like yesterdaybut in which investors will be awaiting the decision of the European Central Bank (ECB) on the foreseeable new rise in interest rates by 50 basis points and what can be anticipated for the future in monetary policy.

At the opening, the stock market that rose the most was that of Milan, 2.21%, followed by that of Madrid, with 1.86%; Frankfurt, with 1.58%; Paris, with 1.50%, and London, with 1.19%.

The Euro Stoxx50, an index in which the largest capitalization European companies are listed, also advanced 1.82%.

Yesterday the European markets collapsed, with falls of around 4%, mainly due to the values ​​of the banking sector after the collapse of the Swiss bank Credit Suisse on the Stock Market, which at some point lost more than 30%, trading at its historical lows .

Credit Suisse announced Thursday that it has borrowed 50 billion Swiss francs (about $54 billion) from the Swiss central bank to “preemptively strengthen its liquidity”. The Swiss National Bank (SNB) reported yesterday that it would provide liquidity to Credit Suisse if necessary, but assured that this bank meets the strict liquidity and capital requirements that are required of all Swiss financial institutions to guarantee their stability. .

The main index of the Tokyo Stock Exchange, the Nikkei, fell this Thursday by 0.8% infected by the fear of a financial crisis unleashed by the revelation of liquidity problems of Credit Suisse after the bankruptcy of the American banks Silicon Valley Bank and the Signature Bank.

Fears of Credit Suisse becoming Europe’s Silicon Valley Bank (SVB) and, given its relevance to the global economy, led to large losses in stock indices.

Wall Street closed yesterday in mixed territory and the Dow Jones Industrials, its main indicator, dropped 0.87% in a new volatile day in which the New York parquet was affected by the fall in Credit Suisse shares, which weighed down all European banks.

But today the focus is on the ECB meetingwhich for weeks has shown its willingness to raise the price of money in the euro area by half a percentage point, by 50 basis points, to 3.5%.

Today there are also highly relevant movements in other assets, especially in the foreign exchange market, the euro rises 0.50% compared to the “green ticket” and changes to US$ 1.062 after closing yesterday at 1.053. In raw materials, gold fell 0.54% and stood at US$1,920 a pound.

Oil rises and Brent, after adding 0.91% to the price of a barrel, stands at 74.36 dollars, while West Texas Intermediate (WTI), a reference in the US, also advances 0. 86% down to $68.19.