European stock markets rise after inflation falls in the eurozone and the US.

The main European stock markets closed with increases this Thursday, except for Madrid, after positive inflation data was released in both the euro zone and the US and with attention focused on the OPEC+ meeting.

While Madrid lost 0.04%, Paris gained 0.59%, London, 0.41%; Frankfurt, 0.3%, Milan, 0.16% and the Euro Stoxx 50 index, which groups the main listed companies in Europe, 0.27%, according to market data consulted by EFE.

In the monthly accumulated, Madrid has risen 11.54%; Frankfurt 9.49%; Milan 7.19%; Paris 6.17%, London 1.8% and the Euro Stoxx 50 index 7.91%.

The stock markets started with increases after it was learned that Germany’s October retail sales index improved 1.1% compared to the previous month and stood at -0.1% year-on-year.

Moments later, except for Frankfurt, the European stocks went into losses, although they quickly recovered and traded higher for the rest of the session. For its part, Wall Street opened positively.

Among the economic references this Thursday, the eurozone inflation rate was also published, which fell five tenths in November, to 2.4%, and chained seven consecutive months of falls.

As for the underlying rate, which excludes energy and food prices, it stood at 3.6% after falling six tenths compared to October.

Likewise, in the United States a price index was also known, specifically the private consumption deflator (PCE), which fell to 3% in October, as did its underlying data, which fell and stood at 3. 5 %.

Furthermore, in that country it was learned that pending home sales decreased by 1.5% in October and that new applications for unemployment benefits increased this week.

At the close of the European stock markets, Brent oil, the benchmark in the Old Continent, fell 0.61% to $82.59 per barrel.

This drop occurred after learning, within the framework of the OPEC+ meeting, that Saudi Arabia will extend its voluntary production reduction of one million barrels of oil per day until the end of March 2024.

In parallel, Russia will voluntarily reduce its oil exports by 500,000 barrels a day until the end of March.

On the other hand, the euro depreciated 0.56%, to 1.0907 dollars, and the price of a troy ounce of gold fell 0.29% and stood at 2,038.33 dollars.

In the debt market, the ten-year German bond, considered the safest in Europe, closed with a yield of 2.444%, 1.5 basis points more than the day before.