European stock markets open higher this Tuesday pending the preliminary PMIs for April

European stock markets have opened with slight increases, no more than 0.50%, in a session in which they will be watching the purchasing manager indices (PMI) in the eurozone, Germany, France, the United Kingdom and the United States.

At the opening, the stock market that rose the most was Milan, 0.41%, followed by London, with 0.40%; Madrid, with 0.28%; Paris, with 0.09%, and Frankfurt, with 0.05%.

In the case of the Euro Stoxx50, an index that includes the largest capitalization European companies, it also advanced 0.52%.

The Tokyo stock market closed this Tuesday with a rise of 0.3% in its main indicator, the Nikkei, encouraged by the advances on the Wall Street floor, in a trading day marked by investors’ caution before the publication of corporate profit results.

For its part, Wall Street closed yesterday Monday in green and its main indicator, the Dow Jones, rose 0.67%, in a day of rebound for the technology sector after the disastrous last week, while the S&P 500 advanced 0. 87%, and the Nasdaq rose 1.11% to 15,451 points.

In this Tuesday’s session, investors will also be attentive to the non-manufacturing activity index of the Philadelphia Federal Reserve (Fed) for the month of April.

Regarding the PMIs, according to Renta 4 analysts, stability is expected in the US and British cases, while improvements could be seen in both the manufacturing and the services component in the eurozone.

Regarding central banks, the president of the Bank of Portugal, Mario Centeno, stated yesterday that rate cuts in 2024 could be greater than 100 basis points depending on the data that is published.

Although there is consensus that the ECB will make its first cut of 25 basis points in June, regardless of whether the Fed postpones the first cut until after the summer, there are more doubts about the pace and amount of subsequent cuts, which will depend on various factors such as geopolitical risk.

Regarding raw materials, gold fell 1.33% to $2,313 in price per ounce, while oil, after the declines recorded yesterday, rose slightly.

In the case of Brent, the reference in Europe, it climbed 0.25% to $87.22, while West Texas Intermediate (WTI), the reference in the US, also rose 0.17% to the 82.05 dollars.

Bitcoin, the most popular cryptocurrency on the market, continues to rise, with a rise of 0.66%, standing at $66,432.

In the debt market, the interest on the ten-year German bond, considered the safest, drops to 2.4815%, while the Spanish one also drops to 3.250%.

The euro depreciates a slight 0.09% and is exchanged at 1.0644 dollars.