Europe opens in the red and heads for weekly losses
European stock markets are starting into negative territory, as investors expect August inflation data released on Friday to remain elevated. This scenario, if confirmed, could prompt central banks to continue tightening monetary policy.
The Stoxx 600 index – the reference for the European market – fell 1.15% to 410.03 points, primarily influenced by the natural resources, travel, leisure and real estate sector.
Among the major indices in Western Europe, Germany’s Dax fell 1.70%, France’s CAC-40 fell 1.30%, Italy’s FTSEMIB fell 1.58%, Britain’s FTSE 100 fell 0.24%, Spain’s Ibex lost 1.24% . In Amsterdam, AEX recorded a decrease of 1.14%.
The Stoxx 600 is set to close the week with losses, after rising inflation in the US curbed optimism that the Federal Reserve may begin easing monetary policy in the near future. Also from the European Central Bank, there were signs that the uptrend will continue.
Luis de Guindos, Vice President of the European Central Bank, called for “resolute action” to combat high inflation, calling for continued interest rate hikes, after the hike announced last week.
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