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European stock markets open higher after the US debt ceiling was approved in the Senate.

The European stock markets have opened higher in this last session of the week after the agreement reached between the White House and the Republicans to raise the debt ceiling was approved in the US Senate, thus preventing the country from entering into suspension of payments and pending now from the US employment rate and the OPEC meeting this weekend.

At the opening, the stock market that rose the most was that of Frankfurt, 0.71%; followed by Milan, with 0.61%; Madrid, with 0.56%; London, with 0.46%, and Paris, with 0.34%.

The Euro Stoxx50, an index that includes the European companies with the largest capitalization, also rose 0.59%.

The European markets have thus followed the trail left by Wall Street yesterday and this morning by the main Asian stock markets, which have all closed with profits.

Non-farm employment figures for May will be released in the US this afternoon, as well as the unemployment rate for the same month.

The evolution in the month of the average income per hour will also be published, a very important variable due to its inflationary connotations and whose year-on-year growth has been slowing down in recent months, according to Link Securites analysts.

Wall Street began June on the rise after closing yesterday in the green and the Dow Jones Industrials, its main indicator, rose 0.47%, when investors celebrate that the US House of Representatives approved the ceiling bill yesterday of debt.

For its part, the Nikkei index of the Tokyo Stock Exchange closed this Friday with a rise of 1.21%.

In the debt market, the interest on the long-term German bond, considered the safest, rises and stands at 2.259%, while the Spanish one also advances slightly to 3.289%.

As for raw materials, gold falls slightly by 0.04% and the price per ounce stands at US$1,994.

Oil rises, and Brent, a benchmark in Europe, after advancing 0.94%, the price of a barrel is trading at $74.98, while West Texas Intermediate (WTI), a benchmark in the US, also it rises, 0.90%, to US$ 70.73 before the official opening of the market.

Next Sunday, OPEC holds a meeting to decide whether to keep production stable or apply new cuts for this year.

As for the euro, it remains practically stable with a rise of 0.09% and changes to US$ 1,077.

Source: Elcomercio

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