Lisbon records the least expressive drop in Europe in red
In the middle of Tuesday’s session, European markets continued to trade in the red, with major indicators lower. Lisbon recorded the lowest expressive decline, 0.14%. On the other hand, Paris leads the losses, with a decline of 2.79%.
Revenue for the Stoxx 600, which includes major European companies, is 1.58%, with the tourism sector being the largest weight in the index. On the other hand, core resources are the only ones that follow in green.
European indexes have now fallen for two months, their longest losing streak since October 2020, on investor concerns about monetary policy tightening and rising inflation, with Russia’s invasion of Ukraine boosting sentiment.
Later, investors will pay attention to the US President’s speech at the State of the Union debate, and tomorrow and Thursday, attention will turn to Jerome Powell, Chairman of the US Federal Reserve.
“The situation in Ukraine is taking longer than expected, and uncertainty is growing as we continue to focus on inflation and growth,” said Diego Fernandez, chief investment officer at A&G Banca Privada in Madrid. “Today should be a transition day due to Biden’s speech and Powell’s comments later in the week, although we have seen that any news of the war could stir the markets.”
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