Most European stock markets close negative except for Milan, which rises 0.12%

The majority of European stock markets closed negative this Thursday despite the rise in Wall Street and even though negative economic statistics were known in the United States, according to market data.

The only European stock that ended the day positively was Milan, with 0.12%, while Madrid lost 0.56%, London 0.08%, Frankfurt 0.69% and Paris 0.63%. .

The Euro Stoxx50, an index in which the largest capitalization European companies are listed, fell 0.56%.

In Asia, Tokyo closed up 1.39%. Additionally, Hong Kong gained 1.59%, Seoul 0.83% and Shanghai 0.08%, buoyed by record gains on Wall Street after the United States released consumer price index (CPI) data. which indicate a cooling of inflation.

On Wall Street, after the three indicators reached historical highs the day before, at the closing time of the European stock markets, the S&P 500 advanced 0.18%, the Nasdaq 0.25% and the Dow Jones Industrials 0.31%, so they would achieve new records if they continued in this line for the rest of the day.

The Dow Jones, the main index of the Wall Street stock market, exceeded 40,000 points this Thursday for the first time in its history, driven by good inflation data in April in the United States and investors’ expectations of a possible drop in interest rates.

At 11:40 a.m. (ET), the indicator reached 40,021 points, an advance driven by traders’ hopes that the Federal Reserve (Fed) will carry out rate cuts soon, following the latest figures. of inflation, which was lighter than expected.

On Wednesday it was published that inflation in the US moderated to 3.4% in April, one tenth less than in March, after two months of consecutive increases.

This increase occurred even though negative economic data was published in the United States, although by suggesting a drop in activity it could favor a lowering of rates in the medium term to stimulate activity.

Thus, construction permits in April fell 3%, while weekly applications for unemployment benefits fell by 10,000, to 222,000.

In addition, manufacturing activity this month, according to the Philadelphia Fed, fell eleven points, to 4.5, while last month’s manufacturing production fell 0.3%.

According to the director of financial investments at Mutualidad Pedro del Pozo, “the latest data in the US indicate moderation in the economy, which points to a certain coordination between the Federal Reserve and the European Central Bank (ECB) regarding the regulation of rates.”

In the debt market, the interest rate on the ten-year German bond, considered the safest, rose almost four basis points, to 2.458%, and that of the Spanish bond to 3.214%.

Regarding raw materials, gold fell 0.24% to $2,380.19.

A barrel of Brent, the reference oil in Europe, rose 0.44% to almost $83.19.

Bitcoin, the most popular cryptocurrency on the market, rose 0.24% to $65,826.12.

In the currency market, the euro depreciated 0.13% against the US dollar and was around 1.087 units.