Main European markets close in green and the euro falls

FRANKFURT, Germany.— This Monday, the main European markets closed with gainsled by the Milanese selective, FTSE MIB, which advanced 0.97%, while the euro registered a fall below $1,077.

The euro falls from 1,077 dollars

The euro fell below $1,077 following the member of the executive committee of the European Central Bank (BCE) Piero Cipollone said that the entity does not need to slow down the economy further to control the rise in prices, and is waiting for the US to publish its latest inflation data tomorrow.

The single currency was exchanged at 1.0768 dollars around 16:00 GMT, compared to 1.0785 dollars in the last hours of trading last Friday.

For its part, the ECB has set the exchange rate at 1.0773 dollars.

The day has been marked by the appearances of several members of the ECB, such as Cipollone, who before the European Parliament has assured that the organization does not need to slow down the economy further to control inflation because demand is still weak.

“With demand still weak and inflation expectations stable, there is no need for monetary policy to create more slack to maintain inflation. The recovery of supply ‘shocks’ creates room for demand to recover without fueling inflation,” he assured.

However, he has once once more insisted that the ECB will make decisions depending on the data, in line with the words that the governor of the Bank of Spain, Pablo Hernández de Coshe pronounced this weekend.

In addition, tomorrow the United States inflation rate in January will be known, which might revive expectations of a lower interest rate in that country.

The single European currency has changed today in a fluctuation band between 1.0760 and 1.0804 dollars.

Milan gains 0.97%

The Milan Stock Exchange closed today higher and its index selective FTSE MIB It advanced 0.97%, reaching 31,456.73 points, leading the European markets, following the Governor of the Bank of Italy showed hopes of a short reduction in interest rates.

For its part, the general FTSE Italia All-Share index grew by 0.96%, up to 33,599.54 integers.

During the session, 609 million shares changed hands for a value of 2,532 million euros.

Milan traders felt comforted by the statements last Saturday by the governor of Bankitalia, Fabio Panettain Genoa, according to which the time when the European Central Bank (ECB) will reduce interest rates is rapidly approaching.

The Saipem group stood out on the day, climbing 5.88%, ahead of the telecommunications giant Telecom Italia 0.2742 (2.93%), the fashionable Brunello Cucinelli (2.78%) and Banco Bpm (2.23%).

On the other hand, the Ferrari team fell (0.55%), the financial group Mediobanca (0.39%), Amplifon 31.39 -(0.35%) and Prysmian (0.24%).

The Spanish stock market rises 0.89%

The Spanish stock market rose 0.89%, recovering the 9,900 points it lost on Friday, in a bullish session for the major European markets and with investors waiting for the United States inflation data to be published tomorrow.

He IBEX 35, the main selective of the Spanish stock market, added 88.1 points this Monday, that is 0.89%, up to 9,984.7 points; although during the year it lost 1.16%.

The Stock Market opened with increases that it maintained throughout the day in a session without major economic indicators, waiting for inflation in the United States to be known tomorrow, Tuesday, an indicator that investors expect to anticipate possible decisions by the Federal Reserve ( Fed) regarding interest rates.

Among the large values, Repsol rose 1.12%; BBVA, 1.07%; Telefónica, 0.93%; Inditex, 0.92%; Iberdrola, 0.89% and Santander, 0.82%.

The DAX 40 rises 0.65%

The main selective of the Frankfurt Stock Exchangehe DAX 40rose 0.65% this Monday and has set a new historical maximum at the close thanks to the good performance of the energy company Siemens Energywhich has advanced 5.72%.

The DAX 40 closed at 17,037.35 points, while the Tex DAX technology index rose 0.43% to 3,429.26 points.

During the session, it was learned that prices in the real estate market in Germany decreased by 7.2% year-on-year in the fourth quarter of 2023, which represents the largest drop in the entire historical series of this index, prepared by the VDP banking association.

In the case of residential properties, their price fell 6.1% year-on-year and 1.6% compared to the previous quarter.

The German energy company Siemens Energy led the increases this Monday, following advancing 5.72% following the falls it experienced at the end of last week.

Behind it were the arms company Rheinmetall, which has risen 3.65%, and the online sales company Zalando, whose shares have increased by 3.4%.

At the opposite extreme were the pharmaceutical equipment supplier Sartorius (-2.59%), the aircraft manufacturer Airbus (-0.35%) and the IT company SAP (-0.33%).

The CAC-40 rises 0.55%

Optimism continues in the Paris Stock Exchange which opened the week positively with a rise of 0.55% in its selective CAC-40 which marked a new historical record and is approaching the psychological barrier of 7,700 points.

The reference indicator benefited from the tailwind that is blowing for some companies that are finalizing their 2022 results to be in the green since the opening and finish at 7,689.80 points, a figure never seen in the French market.

While waiting for some indicators that point higher to be confirmed in the coming days, investors exchanged securities worth almost 3,000 million euros.

At the top of the gains was the real estate company Unibil with a rise of 2.58%, ahead of the cosmetics giant L’Oréal, which improved by 2.35% and the insurance company Axa, which rose by 2.13%.

The progression of the CAC-40 would have been greater if it had not been slowed by the fall of the defense equipment manufacturer Dassault, which fell 1.79%, and the industrial Alstom, which fell 1.41%.

The London Stock Exchange closes with an increase of 0.01%

The London Stock Exchange It closed this Monday with a marginal increase of 0.01%, driven by the advances of companies in the mining sector.

The general index FTSE-100 of the main companies listed on the market rose 1.11 points to 7,573.69 points, while the secondary FTSE-250 index rose 141.61 points, or 0.74%, to 19,203.93 points.

The mining sector advanced strongly. Antofagasta shares rose 2.25% to 1,679 pence, while Endeavor Mining rose 2.88% to 1,323 pence, AngloAmerican gained 2.88% to 1,751 pence, Fresnillo rose 3.50% to 493 pence, and Glencore gained 2.39% to 394 pence.

Companies in the red include AstraZeneca, which lost 2.66% to 9,501 pence, aircraft engine manufacturer Rolls Royce fell 2.83% to 309 pence and Natwest group fell 1.42% to 207 pence.

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