European stock markets close positively on prospects for rate cuts

The main European stock markets closed the session positively this Monday, encouraged by good business results and the greater optimism of investors regarding the possibility of interest rate cuts on both sides of the Atlantic.

With London closed for a holiday, Milan has risen 1.06%; Frankfurt, 0.96%; Madrid, 0.58%; and Paris, 0.49%.

The Euro Stoxx 50, the index that groups the largest European companies by capitalization, has advanced 0.72%.

Previously in Asia, Hong Kong was up 0.55% and Shanghai was up 1.16%. Tokyo and Seoul have not operated.

On Wall Street, the main indices have opened higher. At the closing time of the European markets, the Dow Jones gained a minimum of 0.05% and the S&P 500, 0.6%, the same advance as the technological Nasdaq.

Investors have received signals in recent days that indicate the possibility of interest rate cuts beginning.

According to Banca March analysts, the disappointing employment data in the US, published last week, allows the stock markets to “see a less restrictive horizon at a monetary level.”

The chief economist of the European Central Bank (ECB), Philip R. Lane, He assured, in an interview with the Spanish newspaper El Confidencial, that his level of confidence in being able to lower interest rates in June “has improved” after the April inflation data.

In the oil market, crude oil rises moderately despite the increase in tension in Gaza.

Brent, the reference crude oil in Europe, It becomes more expensive by 0.7% and is around $83.7 per barrel.

He gold priceone of the safe haven assets in times of uncertainty, It rises 1.1% and stands around $2,326 per ounce.

In the debt market, the returns They fall due to the prospects for rate cuts.

The German bond yield, considered the safest, falls to 2.466%.

In the foreign exchange market, the euro appreciates against the US dollar and is exchanged at 1.0772 units.

Bitcoin, the most used cryptocurrency, fell 0.3% and was around $63,570.