European Stocks Rise as Traders Await U.S. Personal Spending
The main European stock markets were up today, pending the US personal consumption expenditure index, which is the price variable most closely followed by the US Federal Reserve (Fed) in defining monetary policy.
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Economia Bolsas europeias
At 9:00 AM in Lisbon, the EuroStoxx 600 was up 0.62% to 505.47 points.
The London, Paris and Frankfurt stock exchanges were up 0.54%, 0.27% and 0.61%, while those in Madrid and Milan rose 0.76% and 0.60%, respectively.
After opening higher, the Lisbon stock exchange maintained the trend, with the main index, the PSI, up 1.83% to 6,662.12 points at 9:00 AM.
Today, the Bank of Japan (BoJ) revised its inflation forecast for fiscal year 2024 up by four tenths of a percentage point to 2.8%, and worsened its forecast for the growth of the national Gross Domestic Product (GDP) due to weak consumption.
The Wall Street stock exchange closed in the red on Thursday, after disappointing data on first-quarter growth in the US was released and fears spread that the interest rate cut would not materialize.
The Dow Jones closed down 0.98% to 38,085.80 points, against 39,807.37 points on March 28, a new high since it was created in 1986, and the Nasdaq fell 0.64% to 15,611.76 points, against the new high of 16,442.20 points on April 11.
A barrel of Brent oil for June delivery opened higher today, trading at $89.66 on the Intercontinental Exchange Futures (ICE) in London, against $89.01 on Thursday.
On the foreign exchange market, the euro opened lower in Frankfurt, trading at 1.0730 dollars, against 1.0731 dollars in the previous session.
Also Read: European stock markets with mixed trend, awaiting more results (Portuguese version)
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