10/30/2023 – 7:50
European stock markets are trading higher on Monday morning, the 30th, as investors take stock of Germany’s better-than-expected economic performance and more corporate balance sheets, in a week that will also bring interest rate decisions in the US and UK.
At around 7:10 am (Brasilia time), the European Stoxx 600 index advanced 0.75%, to 432.79 points.
To help maintain risk appetite that has been building since the opening of business, German GDP contracted less than expected in the third quarter, falling by 0.1% compared to the previous three months. Moreover, there was an upward revision to previous data, pushing Europe’s largest economy to avoid a previously announced recession, between the end of last year and the beginning of this year.
At mid-morning, preliminary German consumer inflation data for October will be released.
In the Eurozone, the Eurozone Economic Confidence Index fell slightly in October to 93.3 points, but exceeded expectations.
Earnings season is also on the radar. HSBC boosted its profits in the third quarter, but results fell short of expectations. At the above-mentioned time, the share of the Asia-focused British bank achieved a marginal increase of 0.10% in London.
In the coming days, investors in Europe will turn their attention to interest rate announcements in the US on Wednesday (1st) and in the UK the following day.
At 7:26 am (Brasilia time), the London Stock Exchange rose by 0.70%, the Paris Stock Exchange increased by 0.53%, and the Frankfurt Stock Exchange rose by 0.46%. Those in Milan, Madrid and Lisbon recorded increases of 0.34%, 0.95% and 0.06%, respectively. *With information from Dow Jones News Agency.
