The european stocks they went up on Friday since the fear of a major banking crisis continued to subsideplus a crecord monthly drop in euro zone inflation figures and a decline in the US Federal Reserve’s preferred measure of inflation lifted investor sentiment.
The pan-European index STOXX 600 closed with an increase of 0.7%. index scored its second consecutive quarterly risebut finished March slightly down following an action-packed few weeks following the bankruptcy of two midsize US lenders and the acquisition of Credit Suisse.
The banks fell 0.4% on Friday and 14% in Marchhis worst monthly result since 2020.
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Although a series of support measures for the sector and a rally in tech stocks have led tol STOXX 600 to three-week highs, investors have not completely shaken off their fear of future risks.
“What awaits us is complicated. Our forecasts for economic growth and interest rates are mostly stable. We do not expect rate cuts from the Federal Reserve or the ECB this year,” he said Willem SelsGlobal CIO of Private Banking and Wealth Management at HSBC.
The market will have to reconsider its pessimistic reaction, since inflation, especially core inflation, is coming down “with agonizing slowness“, he added.
Eurostat data showed that inflation in the euro zone recorded the largest drop in history in March. However, core price growth accelerated.
With an action-packed first quarter also drawing to a close, world stocks consolidate a rise of 6% so far this year. The bonds government have gained as much as 5%, gold is up 8%, while oil is down and the dollar has barely moved.
He nikkei Japan rose 1% and stocks in China and Hong Kong rose modestly after Chinese PMI data showed the recovery in the service sector was picking up pace and manufacturing activity expanding faster than expected.
The Treasury bond The US have had a very successful month, with the two-year yield falling 68 basis points to 4.1120%, the biggest monthly drop since the financial crash of 2008. Ten-year returns lost 35 basis points this month, to 3.5602%, confusing those who thought they would rise.
The movement in the markets foreign exchange it was subdued, but the dollar was headed for a monthly decline of 2.7% against a basket of six major currencies, albeit only 1.1% in the quarter.
In the raw Materialsthe prices of raw were stable but are headed for a monthly decline and the gold it was around the highest since April last year, accumulating a monthly improvement of more than 8%, to $1,980.20 an ounce.
Source: Ambito
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