The major European stock markets opened today with broad gains, buoyed by favorable inflation data for July in Germany and Spain, complementing the U.S. CPI released on Tuesday.
At around 08:50 in Lisbon, the EuroStoxx 600 was up 0.39% at 550.39 points.
The stock markets in London, Paris, and Frankfurt rose by 0.26%, 0.32%, and 0.56%, respectively, while those in Madrid and Milan appreciated by 0.77% and 0.37%.
The Lisbon stock exchange maintained its opening trend, and at 08:50, the main index, the PSI, was up 0.43% at 7,788.03 points.
German inflation remained stable at 2% in July, showing no change from the previous month, and Spain’s CPI also remained at 2.3%, unchanged from June’s figure.
Renta 4 Banco explained that following the announcement of July inflation data, the U.S. market reached new historical highs, and “it is almost certain that the U.S. Federal Reserve (Fed) will cut interest rates by 25 basis points at the next meeting in September.”
The Dow Jones ended up 1.10% at 44,458.61 points, compared to the highest since the index was created in 1896, of 45,014.04 points on December 4, 2024.
The Nasdaq, the technology-heavy index, closed up 1.39% at 21,681.91 points, a new all-time high.
Following the rises on the U.S. stock market, in Asia, the Tokyo stock market rose 1.3% and reached a new high above 43,000 points, buoyed by the tariff truce between the U.S. and China and new expectations of U.S. rate cuts.
The Shanghai stock market rose 0.48% and the Hong Kong market advanced 2.36%.
Brent crude, the benchmark oil in Europe for October delivery, is down to $66.10, compared to $66.12 on Tuesday.
West Texas Intermediate oil, the U.S. benchmark, also fell to $63.10, compared to $63.17 before the official market opening.
Gold per Troy ounce, a safe-haven asset, was appreciating to $3,358.46, against $3,349.54 on Tuesday, and the current historical high of $3,432.34 on June 13.
The German 10-year bond yield fell to 2.718%, down from 2.743%.
Bitcoin, the most widespread and traded cryptocurrency, rose 0.09% to $119,190.
The euro advanced to $1.1709 on the Frankfurt currency market, from $1.1680 on Tuesday, nearing the new high since September 15, 2021, of $1.1789 on July 2.
