European stock markets await US inflation data with widespread increases

The european bags they maintained the positive tone of the last closing at the opening of this Thursday and registered advances in the first minutes of a session in which analysts foresee a cautious market until the publication of the US CPI data for July.

After the first exchanges, Paris added 1.12%; the Euro Stoxx 50 index, which brings together the largest listed companies in Europe, 0.95%; Madrid, 0.85%; Milan, 0.84%; Frankfurt, 0.59%, and London, 0.09%.

The indicators, which closed in green this Wednesday driven by the recovery of the banks after Italy qualified its new extraordinary rate for the sector, retain the positive sign on a day in which the most anticipated macroeconomic reference of the month will be known.

Specifically, the US Bureau of Labor Statistics publishes inflation for July, an indicator that has fallen every month over the last year until reaching pre-pandemic levels last June (3%) due to the effect of the rising interest rates and falling energy prices.

On this occasion, the analysts of bankinter They ensure that the market consensus expects the general rate to rise slightly to 3.3%, with the core yielding one tenth to 4.7%.

Likewise, investors will be watching Germany, where the business results of Siemens AG, Deutsche Telekom, Allianz and Thyssenkrupp will be revealed, as OPEC will publish its monthly report in which it will update its forecasts for world crude consumption.

At the gates of the appointment, Wall Street it turned red again in the last session, and its main indicator, the Dow Jones Industrials, lost 0.54%, which seems not to have influenced the performance of the Asian stock markets too much.

In fact, Tokyo rose 0.84% ​​due to good corporate financial forecasts and the prospect of a boost to tourism in the face of the normalization of Chinese visitors, the most important for Japan, while Shanghai did so by 0. 31%.

On the other hand, Hong Kong, which continues to operate, is leaving 0.02%.

After a day in which the relief of the banks was verified after Italy clarified that the new tax on the sector, which is equivalent to 40% of “exceptional” profits, will be applied in a limited way to certain entities and will not exceed 0 1% of the assets of each one, the main European markets continued to collect profits.

In its daily report, Bankinter anticipates a cautious market until the US CPI which, if it turns out to be stronger than expected, especially in the core, could anticipate action by the Federal Reserve in September, which in turn could lead to a stock market correction.

In the raw materials market, Brent oil is around the levels of Wednesday and reaches 87.57 dollars, after the notable advance of the last session, in which it continued to rise due to fears that a new escalation in the war between Russia and Ukraine affects some infrastructure and reduces the level of supply.

In currency, the euro appreciates in relation to the dollar and slightly exceeds 1.1, while in debt, the interest on the German bond, considered the safest, stands at 2.523%.