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European stock markets open on Tuesday with falls of more than 1% due to conflict between Israel and Iran

The European stock markets opened this Tuesday’s session with falls of more than 1%, following the course of the closures of Wall Street and Tokyo, due to fear of an escalation in the conflict between Israel and Iran, while attention today is focused on the New York Fed service sector business activity index.

In the first stages of the session, Paris It is the stock market that falls the most, 1.58%; followed by Milanwith 1.42%; Londonwith 1.38%; Frankfurt, with 1.35%; and Madridwith 1%.

He Euro Stoxx50an index in which the largest capitalization companies are listed, lost 1.52%.

The main index of the Tokyo Stock Exchange, the Nikkeifell 1.94% in this Tuesday’s session after the yen exceeded 154 units per dollar, a renewed minimum in 34 years, and dragged down by significant losses among technology companies.

For its part, the reference index of the Shanghai Stock Exchange fell 1.65% and the stock market Shenzhen2.29%.

This Tuesday it was known that China’s gross domestic product (GDP) grew by 1.6% quarter-on-quarter in the first quarter of 2024, according to official data released this Tuesday by the National Statistics Office (ONE) of the Asian country, thus surpassing the experts’ forecasts.

Likewise, the unemployment rate in the United Kingdom rose to 4.2% between December 2023 and February 2024, compared to 3.9% registered in the previous three months, the Office for National Statistics reported this Tuesday.

On the agenda of the day, in addition to the business activity index of the services sector of the New York Fed and the monthly data on industrial production, the results of the surveys carried out by the ZEW in the month of April in both the eurozone and in Germany.

On a business level, and after the good results yesterday of Goldman Sachs, which obtained a net profit in the first quarter of the year of 4,130 million dollars, 28% more than the 3,234 million dollars of the same period of the previous year, today It will be the turn of Morgan Stanley, Bank of America and Johnson & Johnson.

In the debt market, the interest on the long-term German bond rises to 2.439%, while the Spanish one also advances to 3.282%.

Gold falls 0.13% and the price per ounce is trading at $2,374.

For its part, oil rises slightly, in the case of Brent, 0.33% to 90.41 dollars, while West Texas Intermediate (WTI), also climbs a slight 0.36% to 85.72 dollars a barrel, before the official opening of the market.

The euro continues to depreciate, by 0.09%, and is exchanged at 1.0613 dollars.


EFE Agency

Agencia EFE is a Spanish international news agency that distributes information to more than two thousand media outlets around the world in the written press, radio, television and internet. It has a network with more than three thousand journalists of 60 nationalities. It operates 24 hours a day from at least 180 cities in 110 countries.

Source: Elcomercio

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