European stocks down around 0.5% shortly after opening

The main European stock markets favored losses and fell around 0.5% shortly after the opening conditioned by the decline in US futures and the fall in oil, according to market data.

At 9:30 a.m. local time, London was down 0.81%, while Paris was down 0.58%, Frankfurt 0.52%, Madrid 0.51% and the Euro Stoxx 50 index 0.47%. Milan closed for a holiday.

Futures on US indices were down around 0.25% at this time.

The price of a barrel of Brent oil fell 0.24% and changed to 86 dollars.

In addition, interest on the debt increased, which in the case of the ten-year German bond stood at 2.68% after growing almost five hundredths.

For its part, the value of the euro rose slightly, 0.18%, to US$ 1.0925.

The troy ounce of gold lost 0.1%, up to US$ 1,905.

In this session it was learned that the Central Bank of Russia (BCR) increased interest rates by 3.5 points, up to 12%, reaching its highest level since May 2022, to stop the depreciation of the ruble and ensure price stability.

It had been published that Japan’s GDP grew 1.5% in the second quarter (6% year-on-year) compared to the previous period and the Tokyo stock market gained 0.56%.

The growth of Chinese industrial production in July fell by seven tenths compared to the previous month, to 3.7%, and retail sales also fell six tenths last month and remained at 2.5%. The unemployment rate grew one tenth and stood at 5.3%.

With these data, the central bank of China decided to lower interest rates (the one-year credit rate fell 15 basis points, to 2.5%, and the repo -loan with repurchase commitment- fell 10 basis points at 7 days, up to 1.8%), in addition to injecting liquidity into the financial system. The Hong Kong stock market fell 0.95%, while Shanghai lost 0.07%.

Investors will be awaiting on this day the evolution of investor confidence (ZEW index) in Germany and the euro zone in August, which will be released at 11:00 a.m., as well as retail sales in July and manufacturing activity data. this month in the eastern United States (Empire State index), to be published at 2:30 p.m.