European markets opened lower today, with Lisbon following the trend, on the day it was revealed that the German economy contracted in the second quarter, and as the market awaits the Federal Reserve’s speech in the United States.
Data from Destatis reported that Germany’s gross domestic product (GDP) contracted by 0.3% in the second quarter, revising the initial estimate which predicted a 0.1% decline.
Losses in Europe ranged from 0.05% in Paris (CAC 40) to 0.20% in London (FTSE 100).
The PSI, the main index of the Portuguese stock market, was down 0.26% at 7,999.67 points after closing above 8,000 points on Thursday for the first time since April 2011.
The Shanghai Stock Exchange’s benchmark index closed up by 1.45% at 3,825.76 points today, reaching the highest level since July 2015.
Markets are also eagerly awaiting a speech by the Fed’s Chairman, Jerome Powell, which is expected to provide insights into the direction of monetary policy.
In the penultimate session of the week, Wall Street closed in negative territory, with the Dow Jones Industrial Index losing 0.34% to 44,785.50 points and the Nasdaq dropping 0.34% to 21,100.31 points.
The broader S&P 500 index fell by 0.40% to 6,370.17 points.
The price of Brent crude – a benchmark for Europe – for October delivery rose by 1.24% on Thursday to $67.67, marking the second consecutive day of gains, while the euro fell against the US dollar to $1.1661 compared to Wednesday.
