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European stocks rise motivated by inflation data in the US.

The main European stock markets closed higher this Thursday, motivated by the data from the US consumer price index (CPI) for July, which despite registering a rise in the general rate, has presented a drop in the underlying (prices without counting or energy or food).

Madrid has gained 1.58%; Paris 1.52%; Milan 0.94%; Frankfurt 0.91%, London 0.41% and the Euro Stoxx 50 index, which groups the main European listed companies, 1.55%, according to market data consulted by EFE.

The stock markets continued with yesterday’s upward trend and started positive, where they traded throughout the session, with the exception of London, which remained doubtful until the positive opening of Wall Street (at the European close it was advancing 0.75%).

The European markets increased and consolidated their gains after learning that the US CPI for July rose in its general rate to 3.2%, two tenths, and fell one tenth in the subjacent rate, to 4.7%.

This last indicator is one of those that most takes into account the Federal Reserve (Fed) of the United States when making decisions, such as whether or not to continue with the increase in interest rates aimed at tackling inflation.

At the close of the European stock markets, Brent oil, the benchmark in the Old Continent, fell 0.61%, to $87.02 per barrel, after the July report from the Organization of Petroleum Exporting Countries (OPEC). in which the drop in production due to cuts in Saudi Arabia was confirmed.

For its part, the euro appreciated 0.4%, up to US$ 1.1019, in anticipation of a halt in the rate hike in the United States.

In the debt market, the ten-year German bond, considered the safest, has closed with a yield of 2.523%, 3.1 basis points more than the day before.

Source: Elcomercio

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