The big European stock markets rise thanks to Wall Street

The main European stock markets have risen this Tuesday thanks to the push from Wall Street in the final stretch of the session, since doubts about the evolution of the economy in a prolonged period of high interest rates continue to act as a brake on the markets.

Madrid has advanced 1.28%, Milan 0.58%; Paris 0.43%; Frankfurt 0.21%; London 0.11%; and the Euro Stoxx 50 index, which groups the largest listed companies, 0.58%.

European markets started higher and were aiming for a rebound after Chinese Premier Li Qiang maintained GDP growth targets, which analysts take as a warning of economic stimulus if needed.

However, the rise quickly faded (except in Madrid, which has been positive throughout the session) while the president of the European Central Bank (ECB), christine lagardecomplied with what was foreseen and opened the forum that the entity carries out in Sintra (Portugal) with a speech that predicts a restrictive monetary policy for quite some time.

“It is unlikely that in the near future the central bank will be able to say with full confidence that the maximum rates have been reached”he pointed out, while reiterating that in July there will be another rise in interest rates.

Investors have long been receiving strong anti-inflation signals from central banks and fear that rapid and sharp rate hikes could eventually lead to a prolonged recession in economies, especially if rates stay high for long.

Despite everything, the European markets have ended with rises thanks to the rebound in Wall Street, which at the close of the stock market in Europe was earning 0.4%.

This Tuesday, consumer confidence for the month of May rose in the US (Conference Board index) slightly above the analysts’ consensus estimates.

At the close of the stock markets in Europe, the euro advanced 0.5%, to $1,096, and Brent oil fell 0.77%, to $73.6 a barrel.

In the debt market, the yield on the bonds of the main members of the euro area has risen by around four basis points and risk premiums have remained stable.

The interest on the ten-year German bond, considered the safest, closed at 2.351%, 4.6 basis points more than the day before.