European stock markets rise with an eye on Wall Street and waiting for the ECB

The main European stock markets closed this Monday with increases encouraged by Wall Street, in a day without relevant macroeconomic data and awaiting the meeting of the European Central Bank (ECB) this week.

Milan has gained 1.03%; Madrid 0.75%; Paris 0.52%; Frankfurt 0.36%, London 0.25% and the Euro Stoxx 50 index, which groups the main listed companies, 0.4%, according to market data consulted by EFE.

The stock markets have started the session with gains in a day with hardly any macroeconomic references and have risen throughout the session influenced by the positive price of the futures of the main Wall Street indices and by the subsequent upward opening of the New York Stock Exchange.

After learning this Monday that the European Commission has cut three tenths of its economic growth forecast for 2023 in the eurozone, the markets await the economic data for the rest of this week.

In Europe, the German ZEW economic sentiment index for September will be published on Tuesday and the long-awaited ECB meeting will take place on Thursday, in which it will be decided whether or not to continue interest rate increases.

For its part, in the United States the country’s August inflation data will be released on Wednesday and the retail sales indicator for that same month will be released on Thursday, while the US Federal Reserve (Fed) meeting will have to wait until next Tuesday, September 19.

At the close of the European stock markets, Brent oil, the benchmark in Europe, fell 0.14% to $90.51 per barrel, and the euro appreciated 0.38% to $1.074.

In the debt market, the ten-year German bond, considered the safest, closed with a yield of 2.635%, 2.9 basis points more than the day before.