European stock markets open with few movements awaiting ECB minutes

The European stock markets have opened today with few movements, in a session in which, after knowing yesterday the minutes of the last meeting of the US Federal Reserve (Fed), today those of the European Central Bank (ECB) will be known, in addition of the industrial production data for February in the euro area and the German CPI.

At the opening, only the London Stock Exchange fell a meager 0.07%, while the largest increases were monopolized by the Paris market, with 0.88%, followed by Madrid, with 0.16%, Frankfurt, with 0.09% and Milan, with 0.07%.

The Euro Stoxx50, an index in which the largest capitalization European companies are listed, also advanced 0.37%.

The Tokyo Stock Exchange closed today with an advance of 0.25% of its main indicator, the Nikkei, encouraged by the publication this Thursday of the results of the textile multinational Fast Retailing, owner of the Uniqlo clothing store chain.

Wall Street closed yesterday in red, and the Dow Jones Industrials, its main indicator, fell 0.11%, after the publication of the minutes of the last meeting of the US Federal Reserve (Fed).

Likewise, yesterday the US Bureau of Labor Statistics announced a reduction in the year-on-year inflation rate, which stood at 5% in March, which could translate into the Fed ending its campaign to increase interest rates this year.

In the US, the producer price index will be published today, while this Friday three of the country’s largest banks, JPMorgan Chase, Well Fargo and Citigroup, will announce their results.

As for the minutes of the last ECB meeting, on March 16, in which interest rates were raised by 50 basis points, they could offer information on whether it is possible to expect new rate hikes and what could be its amount.

In the debt market, the interest on the German ten-year bond falls and stands at 2.345%, while the Spanish one also falls to 3.385%.

Regarding oil, today the Organization of the Petroleum Exporting Countries (OPEC) publishes its monthly report on the oil market, the first to be released after its member countries decided to cut production to raise the price of crude oil.

At this time, Brent, a benchmark in Europe, falls 0.25% and places the price of a barrel at US$ 87.11, while West Texas Intermediate (WTI), a benchmark in the US, also falls 0.16% to 83.13 dollars a barrel, before the official opening of the market.

Gold rises 0.54% and the price of an ounce is at US$ 2,035.

The euro rises 0.06% compared to the “green ticket” and changes to US$1.0995.