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European stock markets open with mixed results pending from the Fed and the ECB

The main European stock markets opened this Monday with caution and mixed results, waiting for the last 2023 monetary policy meetings of the US Federal Reserve (Fed) and the European Central Bank (ECB) to be held this week. ).

At the opening, Madrid leaves 0.18%; Milan, 0.15%, and London, 0.12%, while Paris rose 0.06%, and Frankfurt, 0.04%.

The Eurostoxx 50 index, which groups together the main companies in Europe, advanced a slight 0.01%.

European stock markets have opened flat after the rise in bond yields on Friday, after the publication of the official November employment report in the US, which was “stronger than expected”, according to analysts at Income4.

The same experts point out that these data “should cool the intense expectations of rate cuts, both with regard to their amount for 2024, and with regard to the start of the cuts in the first quarter of next year, “which seem premature ”.

The market will be very attentive this week to the central bank meetings, whose conclusions on rates will be known on Wednesday, in the case of the Fed, and on Thursday, in that of the ECB and the Bank of England.

Experts expect in all cases that the rates, which could have peaked, will be maintained, and the question is when they will begin to fall.

The market discounts the first rate cuts at the end of the first quarter of 2024 or the beginning of the second quarter of the year.

At this time, in the debt market the German bond, considered the safest in Europe, drops slightly to 2.274%.

The euro is trading at $1.076, while a barrel of Brent rises 0.65% to $76.3.

Gold falls 0.42% to $1,994.6.

Source: Elcomercio

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