The European stock markets close with a different sign in a session without many references

The main European stock markets have closed this Thursday with the opposite sign in a day with few relevant indicators for the market, in which the downward revision of the GDP of the euro area for the first quarter has been known.

London and Madrid have fallen 0.32% and 0.23%, respectively, while Milan has risen 0.81%; Paris, 0.27%; Frankfurt, 0.18%, and the Euro Stoxxx 50 index, which brings together the main listed companies, 0.13%.

The European stocks started negative but soon rose, with the exception of London, which has been in losses for almost the entire session, and advanced decisively despite the drop in growth in the first quarter of the year in the euro area, which is entering a technical recession.

Some analysts warned before knowing the official statistics of the revision risk after the reduction of a few weeks ago in the data for Germany, the largest European economy.

In the final part of the session they have rebounded supported by the rise of Wall Street (0.27% at the close of the stock markets in Europe), although Madrid has fallen off the hook and has finally ended in losses.

The requests for unemployment benefits in the US have grown more than expected by analysts and show a sign of weakness in the US labor market for the first time in a long time, which gives the Federal Reserve (Fed) room to stop interest rate rises.

Following this week’s surprise rate hikes in Australia and Canada, uncertainty has increased over what decisions the Fed and the European Central Bank (ECB) will take at their monetary policy meetings next week.

At the close of the European markets, the euro was trading at $1.077, 0.7% more than on Wednesday, and Brent oil at $76.2 a barrel, 0.9% less.

The yield on the debt of the euro area countries has fallen after rising in the first three days of the week and the German ten-year bond, considered the safest, has closed with an average yield of 2.4%, five basis points less than yesterday.