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European stock markets open with slight rises and eyes on the Fed

The European stock markets have opened with slight rises and will try to recover yesterday’s losses, in a session in which they are looking at the Fed meeting, in which a new 25-point rise in interest rates will foreseeably be decided basic.

In the first minutes of the session, the stock market that rises the most is that of Milan, with 1.02%, followed by Madrid, with 0.51%; Paris, with 0.50%; London, with 0.49%, and Frankfurt, with 0.41%.

The Euro Stoxx50, an index that includes the European companies with the largest capitalization, also advanced 0.69%.

Wall Street closed yesterday with losses and the Dow Jones Industrials, its main indicator, fell 1.08% dragged down by the financial sector, with new fears about the health of the US regional banks, and the energy sector after a sharp drop in price of the oil.

The declines in the New York Stock Exchange were carried out by the US regional bank.

For its part, the Tokyo Stock Exchange has remained closed this Wednesday for the national festivities of the Japanese Golden Week.

In today’s session, all eyes will be on the Fed meeting, the result of which will already be known with the European markets closed, and which with a high probability could apply one last rise in interest rates of 25 basis points, before an inflation that moderates, but is still far from its objective.

According to the analysts, after this latest rate hike, rate stability is expected until the end of the year, thanks to the fact that the tightening of credit conditions (especially in regional banks in the United States) would do the rest of the work of monetary tension, to which the deceleration that can already be seen in the most advanced indicators of the cycle is added, according to Renta 4.

In the debt market, the interest on the long-term German bond rises and stands at 2.254%, while the Spanish one falls to 3.319%.

As for raw materials, gold rose slightly 0.16% and an ounce was trading at US$2,026, while Brent crude, a benchmark in Europe, fell 0.09% and a barrel was at US$ 75.25.

The West Texas Intermediate (WTI), of reference in the US, yields 0.20% to US$ 71.52, before the official opening of the market.

The euro rises 0.27% and changes to US$ 1,102.

Source: Elcomercio

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