The major European stock exchanges opened today with mixed results, buoyed by the potential for a decrease in interest rates in the U.S. next week, following weak weekly employment figures in the U.S. and a recovery in its Consumer Price Index (CPI).
Around 09:05 in Lisbon, the EuroStoxx 600 fell 0.04% to 555.10 points.
The stock exchanges in London and Frankfurt rose by 0.30% and 0.03%, respectively, while those in Paris, Madrid, and Milan declined by 0.27%, 0.40%, and 0.10%.
The Lisbon stock exchange retained its opening trend, with its main index, the PSI, decreasing 0.28% to 7,732.86 points at 09:05, after reaching a high of 8,020.36 points on August 21.
Although markets widely anticipated the European Central Bank (ECB) would maintain interest rates at 2% on Thursday and that year-on-year U.S. inflation would increase by two-tenths in August compared to July, reaching 2.9%, significantly negative weekly employment data in the U.S.—the worst since October 2021—increased the likelihood that the U.S. Federal Reserve might implement up to three rate cuts by the end of the year.
In Spain, year-on-year inflation data released today showed it remained at 2.7% in August, the same as the previous month, while food inflation moderated by four-tenths to 2.3%, influenced by a larger reduction in fruit prices.
This data will also be released today in Germany and France.
In the meantime, trade negotiations continue, with news that China and the United States are expected to hold a new round of trade talks in Madrid in the coming days, addressing issues such as TikTok and cooperation on anti-money laundering networks.
In Asia, the Nikkei index of the Tokyo stock exchange closed with a rise near 1%, while the benchmark index of the Shanghai stock exchange fell 0.12%. The Shenzhen stock exchange lost 55.76 points or 0.43%, and shortly before the session’s end, Hong Kong’s Hang Seng index was up by more than 1%.
Wall Street futures, after indices reached new highs on Thursday, showed stability, with a 0.05% decrease for the Dow Jones and a 0.06% increase for the Nasdaq.
The Dow Jones ended up rising 1.36% to 46,108.00 points, a new record since the index’s inception in 1896.
The Nasdaq, a high-tech stock index, closed with a 0.72% increase to 22,043.07 points, also a new all-time high.
In the bond market, France’s 10-year bond yields increased to 3.470%, up from 3.441%, and Germany’s yields rose to 2.679%, up from 2.655%.
In commodities, the price of gold per troy ounce, a safe-haven asset, was rising to $3,652.38, a new all-time high, compared to $3,636.23 in the previous session.
Oil prices, after recent increases due to the risk of secondary tariffs for buyers of Russian oil, are trading lower.
Brent crude, the benchmark oil in Europe, for November delivery, was down to $65.80, compared to $66.37 on Thursday.
West Texas Intermediate (WTI) crude, the U.S. benchmark, fell 0.74% to $61.92 before the official market opening.
Bitcoin, the most widespread and traded cryptocurrency, increased by 0.85% to $115,404.
The euro appreciated to $1.1743 in the Frankfurt foreign exchange market, up from $1.1737 on Thursday, and reaching a new high since September 15, 2021, at $1.1789 on July 2.
