The big European stock markets fall after the ECB rate hike

The main European stock markets have fallen this Thursday after the European Central Bank (ECB) fulfilled the script with a rise in interest rates of 25 basis points and a downward revision of its macroeconomic forecasts.

Paris has fallen 0.51%, Milan, 0.28%; Frankfurt, 0.13%; Madrid, 0.02%; and the Euro Stoxx 50 index, which groups the main listed companies, 0.25%; while London has advanced 0.34%.

The markets opened negative in their first reaction to the pause in the rise in interest rates in the US known yesterday afternoon and have been trading in the loss zone throughout the day, except for London and Madrid.

The British market entered positive shortly before noon and extended the gains after opening Wall Street higher, which rises more than 1% at the close of the European stock markets.

Madrid arrived with small profits at the press conference of the president of the ECB, Christine Lagarde, but has not managed to maintain them until the closing.

In addition to raising the price of money, the ECB has today slightly lowered its growth forecast for the euro area economy and has raised its inflation forecast.

Lagarde has indicated that one more rate hike is possible in July, although she has insisted that the determining factor will be the evolution of the data, but many analysts have interpreted that the higher inflation forecast by the entity in its new forecasts makes a further rise likely. rates at the September meeting.

The euro has rebounded with the rise in rates and shortly after the market closed it rose more than 1% and was exchanged at $ 1.0939, a level that had not been reached since mid-May.

As regards debt, the yield on the bonds of the eurozone countries has risen as soon as the ECB’s decision is known, but has soon corrected downwards.

The interest on the long-term German bond, considered the safest, has closed at 2.499%, half a tenth more than yesterday.

Brent oil rose 2.6% at the close of the European markets, up to US$ 75.16 a barrel.