The Limited Times

Now you can see non-English news...

ECB, today we decide on the increase in rates. European stocks up

2023-02-02T12:48:08.631Z


Analysts are betting on a 0.50% increase, followed by at least another squeeze of the same magnitude in March. (HANDLE)


The tightening of the ECB is expected today after that of the Fed yesterday. Frankfurt in the second half of 2022 raised rates by 2.5 percentage points in an attempt to appease the race in prices, which shot up to 10.6% in October.

Eurostat's flash estimate for Euroland indicates inflation falling from +9.2% in December to +8.5% in January, still four times higher than the Eurotower's 2% target.

Precisely for this reason, the wait is for a new rise in interest rates: analysts are betting on a 0.50% increase, followed by at least another tightening of the same size in March.

An ECB therefore hawkish even in the face of a labor market that is proving to be resilient.

The seasonally adjusted unemployment rate remained unchanged at 6.6% in December, the lowest since 1995.

  The European stock markets continue the session with a sharp rise after the Fed meeting and the indications on the slowdown in inflation.

The attention of investors now shifts to the moves that the ECB and the Bank of England will put in place, which will meet in the afternoon.

On the currency front, the euro continues at 1.0996 against the dollar.

Gold is running at 1,954 dollars an ounce (+1.4%).

The Stoxx 600 area index gains 0.9%.

Well Paris (+1.1%), Frankfurt (+1.6%), Madrid (+1.2%) and London (+0.5%).

The main European lists are supported by information technology (+3.5%).

Cars also performed well (+2.1%), after the January registration data.

Tlc (+1.7%) and insurance (+0.3%) are advancing, while banks are weak (-0.1%).

Purchases for utilities (+0.2%), with gas down.

In Amsterdam the price drops to 59.1 euros per megawatt hour (-0.7%).

Energy also performed well (+0.1%), with the price of oil on the rise.

The WTI rises to 76.6 dollars a barrel (+0.3%).

Brent stands at 82.9 dollars (+0.1%).

In view of central banks, government bond yields are falling.

The spread between Btp and Bund drops to 196 points, with the Italian ten-year rate at 4.21% (-7 points).

The yields of the 'peripheral' countries also fell with Spain at 3.22% (-4 points) and that of Greece at 4.23% (-4 points). 

Source: ansa

All life articles on 2023-02-02

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.