The European stock markets open with falls of around 0.25% before a probable rate hike by the ECB

The European stock markets have opened the session this Thursday with falls of around 0.25%, thus anticipating what seems more than likely a 25 basis point rise in interest rates by the European Central Bank (ECB), and then that yesterday the US Federal Reserve (Fed) decided to pause but left the door open to future hikes this year.

In the first minutes of trading, Paris loses 0.29%; Frankfurt, 0.27%; Madrid, 0.26%; Milan, 0.25%, and London, 0.19%, while the Euro Stoxx50, in which the largest companies in Europe are listed, also left 0.22%.

The main index of the Tokyo Stock Exchange, the Nikkei, fell 0.05% in the session this Thursday, given the expectations that the divergence of the monetary policies of the United States, Europe and Japan will be maintained and widened.

For its part, Wall Street closed yesterday in mixed territory and the Dow Jones Industrials lost 0.68% in a choppy session after the Fed announced a pause in interest rate hikes, but warned of probable additional hikes. this year.

Rates thus remain in a range of between 5% and 5.25%, the highest level since mid-2007, after a streak of ten consecutive increases carried out to lower inflation.

The European Central Bank (ECB) will foreseeably raise interest rates this Thursday by a quarter of a percentage point, up to 4%, thus continuing with the progressive slowdown in its adjustments derived from the relative containment of inflation.

Also, today the Bank of Japan (BoJ) began its meeting on monetary policy, in which the entity is expected to keep its stimulus strategy that includes ultra-low rates unchanged despite the growing divergence with other central banks.

Among the data of interest of the day, apart from the ECB meeting, among the highlights is the data on the trade deficit in Spain, which has been reduced by 50% in the first four months of the year, reaching 10,954 million euros, after Spanish merchandise exports have increased by 9.2%, to 132,026 million euros, a new maximum.

Among the US macroeconomic references, the manufacturing indices stand out: the Empire State of the New York Fed and that of the Philadelphia Fed, as well as the monthly industrial production and the monthly retail sales, as well as the data weekly initial unemployment claims.

In the debt market, the interest on the long-term German bond rises and stands at 2.491%, and the Spanish one also rises to 3.455%.

Regarding raw materials, gold fell 1.25% and an ounce was quoted at US$1,944, while Brent crude, a reference in Europe, rose 0.19%, so the barrel was quoted at US$73 .34, and the West Texas Intermediate (WTI), a reference in the US, also advanced 0.23% to US$ 68.43, before the official opening of the market.

The euro depreciates 0.15% and changes to US$ 1.081.