European stock markets close with a mixed sign awaiting the Federal Reserve

The European stock markets closed this Tuesday with a mixed sign in the session prior to the decision of the Federal Reserve (Fed) on interest rates, while oil maintains its upward path that worries the market due to its impact on inflation.

Among the large European stock markets, Frankfurt fell 0.4%; while Paris and London ended almost flat, with a slight rise of 0.08%, in the case of the French, and 0.09% in the British; On the contrary, Milan rose 0.60% and Madrid gained 0.48%, according to market data consulted by EFE.

For its part, the Eurostoxx, which groups together large European companies, rose 0.07%.

The European stock markets opened with slight falls, although minutes after the start they reversed the trend, except in Frankfurt, which maintained its losses all day.

Today the meeting of the Federal Reserve (Fed)which will announce its decision on interest rates tomorrow, although the market anticipates that it will keep them at the current level.

In Europe, during the session several indicators were known that support a scenario of weak growth and high inflation in which the markets have been pending the rise in oil, which maintains the upward trend of recent sessions.

At the close of the European stock markets, Brent oil, the benchmark in Europe, rose 1.05% to $95.42 per barrel.

This Tuesday, Eurostat published the eurozone inflation update in August, which stood at 5.2%, one tenth less than the previous month’s rate and also one tenth lower than the agency’s preliminary calculation.

For its part, the Organization for Economic Cooperation and Development (OECD) updated its economic outlook in which it further reduces its growth forecasts for this year and next in the euro area, weighed down above all by Germany and with the exception of Spain, up to 0.6% in 2023 and 1.1% in 2024.

Wall Street opened in the red and the Dow Jones Industrial Average, its main indicator, fell 0.17% at the start.

Tomorrow the Bank of England’s monetary policy decision will also be announced, which is expected to increase rates due to the strength of macroeconomic data and persistent inflation.

For its part, the euro fell 0.11% at the close of the equity markets until it was exchanged for 1.068 dollars.

In the debt market, the ten-year German bond rises slightly to 2.73% compared to 2.7% the day before.