Lower opening of European stock markets in line with the trail left by Wall Street

The European stock markets have opened the session on the last day of the week downwards, in line with yesterday’s trend and influenced by the trail left by Wall Street, in a session that will be marked by the publication of the leading activity indices for the manufacturing and services sectors (PMI) in the euro area, Germany, France, the United Kingdom and the United States.

In the first minutes of trading, the stock market that fell the most was that of Madrid, 0.19%, followed by Frankfurt, with 0.12%; Milan, with 0.07%, and London, which was the only one that closed positive yesterday, with a fall of 0.03%.

The Euro Stoxx50, an index in which the companies with the largest European capitalization are listed, also fell a scant 0.01% after it also closed slightly higher on Thursday.

Wall Street closed this Thursday in red, and the Dow Jones Industrials, its main indicator, fell 0.33%, as investors analyze the business results of the country’s main companies published this week.

Today, the Tokyo Stock Exchange ended with a 0.33% drop in its main indicator, the Nikkei, due mainly to the appreciation of the yen against other currencies.

According to the Renta 4 analysts, the PMIs are expected to show general stability in the composite, with a slight improvement in the manufacturing component, although remaining in the contraction zone, and some deterioration in services, but showing growth.

From yesterday, the publication of the minutes of the last meeting of the European Central Bank (ECB) in mid-March stands out, in which several members expressed concern about inflation estimates that were too benign.

From the point of view of central banks, it is noteworthy that in the ECB minutes several members expressed concern about inflation estimates that were too benign.

At the moment, the market is split on the size of the rate hike at the May 4 meeting, between 25 and 50 basis points.

Precisely today the vice president of the ECB, Luis de Guindos, appears.

In Spain, this Friday the results of Línea Directa Aseguradora stand out, which registered losses of 5.3 million euros in the first quarter of 2023, impacted by cost inflation and also by the increase in claims compared to a year before, when it was lower due to the restrictions derived from Ómicron.

The euro depreciates 0.20% and changes to US$ 1,094.

In the raw materials market, gold fell 1.07% and an ounce stood at US$ 1,997, while Brent crude, a benchmark in Europe, fell 0.62% and the price of a barrel was quoted in US $80.60.

For its part, the West Texas Intermediate (WTI), a benchmark in the US, also fell 0.63% to $76.88 a barrel, before the official opening of the market.

As for debt, the interest on the German ten-year bond falls to 2.425%, while the Spanish one also falls to 3.461%.