European stocks rise after macro data well received by investors

The European stock markets have rebounded this Friday after several downward sessions in recent days encouraged by the confirmation of the advanced inflation data from large eurozone countries such as France and Spain and the growth of the United Kingdom’s GDP.

Milan has risen 0.92%, Madrid, 0.56%; Frankfurt, 0.5%; Paris, 0.45%; London, 0.31%; and the Euro Stoxx 50 index, which groups the largest listed companies, 0.19%.

The increases have marked the session since the beginning of the negotiation and have been maintained despite the fact that Wall Street has opened lower and fell 0.3% at the close of the markets.

As was the case with Germany, the final inflation data for April from Spain and France have confirmed the progressive decline in prices, although with less intensity than the previous month.

However, this Friday’s comeback has not been enough for all the European markets to make progress in a week marked by low activity, and in which the CPI in April in the US, which has fallen little, has once again raised the possibilities that the market gives to monetary policy being restrictive for a longer time.

Only London and Madrid present a positive balance in the last five days, with increases of 0.67% and 0.95%, respectively, while Frankfurt loses 0.3%, London, 0.24%; and Milan repeats the closure of last Friday.

Oil continues its correction and during the week it falls 0.5% given the expectation of a drop in demand during 2023.

The most pessimistic forecasts for economic growth, reflected in the sharp drop in investor confidence in the euro zone on Monday, have gained ground this week with poor import data from China and fears of further rate hikes, as indeed happened. yesterday in the UK.

The euro, which is trading at US$1,086 this Friday, returns to levels of a month ago, while gold is selling at US$2,011 an ounce and adds ten consecutive sessions above the level of US$2,000.

In the debt market, yields have fallen by around half a tenth this week in the eurozone countries and the German ten-year bond, considered the safest, closed this Friday with an interest rate of 2.272%.