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ECB chief economist paints Europe green. British stock exchange behind closed doors
With the exception of the Lisbon stock exchangeEurope started the first session of the week with slight gains, as investor optimism is reinforced about the possibility of the European Central Bank (ECB) starting to cut key interest rates in June.
The Stoxxx 600 – “benchmark” for the Euro Zone – rises 0.14% to 506.26 points. Among the 20 sectors that make up the index, “oil & gas” is the one that appreciates the most, on a day when oil appreciates in both London and New York, after Saudi Arabia raised prices – above expectations – of a specific category of crude that is exported to Asia. Retail leads the losses.
Among the main European cities, Frankfurt grows 0.13%, Paris adds 0.11% and Amsterdam increases 0.22%. Milan rises 0.37% and Madrid trades at the low end (0.02%). The London stock exchange is closed this Monday, on the occasion of the “Early May bank holiday”.
Investor sentiment is being buoyed (albeit moderately) by the latest words from ECB chief economist Philip Lane, for whom the latest macroeconomic data (and responsible for opening presentations during the bank’s monetary policy meetings) central) are a sign of “confidence” that inflation will reach the 2% target in due time.
“Both the quick estimate [para a inflação] April in the Eurozone, as the GDP numbers in the first quarter have improved my confidence that inflation should return to target [dos 2%] in good time”, said the ECB’s chief economist, in interview with El Confidencial.
During Monday’s session, market sentiment may also be influenced by a series of macroeconomic data, such as the producer price index, which is considered an advanced indicator of inflation.
Investors are paying attention to the performance of PostNL shares, which are down around 4% after volumes for the quarter were weaker than expected. WilliamDemantt also gives up 3.57%, after reporting a drop in sales.
