European stock markets fall for the fourth day due to the slowdown in economic growth

The main European stock markets closed down this Wednesday and accumulated their fourth consecutive fall, except for London, after a bad start to September conditioned by macroeconomic data in Europe and the United States that confirm the economic slowdown.

Milan has lost 1.54%; Paris, 0.84%; Madrid, 0.83%; Frankfurt, 0.19%; and London, 0.16%; while the Euro Stoxx 50 index, which groups the main listed companies, has lost 0.72% and already has six consecutive days of falls, according to market data consulted by EFE.

The stock markets started the session downwards and despite the fact that they began to moderate their falls after the mid-session, only Frankfurt and London managed to touch gains, although shortly after the negative opening on Wall Street they returned to losses.

Before the negotiation began, the data on German industrial orders for July was published, which fell more than expected by the experts compared to June.

It has also been revealed that retail sales in the euro area in July have fallen again in the interannual rate and now add up to fourteen consecutive months of declines.

In the United States, the final PMI indices for August (composite and for the services sector) have come closer than expected to the contraction zone, while the ISM services indicator for the same month has increased despite analysts’ forecasts to the contrary. and continues to expand for the eighth month.

In addition, the trade deficit for July rose 2% compared to the previous month.

At the close of the stock markets in Europe, Brent oil, the benchmark in the Old Continent, rose 0.28% and once again exceeded $90 per barrel, and the euro depreciated 0.11%, up to $1.071 .

In the debt market, the ten-year German bond, considered the safest, closed with a yield of 2.65%, 4.3 basis points more than the day before.