Falls in European stocks dragged by the US CPI
European stock markets begin the session with falls from which the Italian FTSE stands out, which rises by 0.23%. London’s FTSE 100 cut 1.1%, the Dax 1.31%; the Cac 40, 0.97% and the Euro Stoxx 50, 1.03%.
Consumer prices in the United States posted their biggest increase in nearly 12 years in April, as increased demand as the economy reopened offset supply constraints, which could fuel market fears financial support to a prolonged period of rising inflation. The negative investment sentiment has been transferred to the European market.
On the other hand, the first quarter earnings of European banks have exceeded all expectations in a turnaround since the stagnation produced by COVID-19 a year ago, however, after a decade of ups and downs, it is possible that need more than one season to win over the skeptics, Reuters reports.
Shares of European banks have already risen 25% this year, more than double the gains of the underlying STOXX 600 index. Since November, when President Joe Biden won the US election on promises of big spending, the sector has rebounded by 66%.
At the business level, Técnicas Reunidas is awarded a contract for the construction of a biomethanol plant in Amsterdam. Specifically, Global Industrial Dynamics (GID) has awarded Técnicas Reunidas a contract for the construction of a biomethanol plant in Amsterdam that will contribute to the “decarbonization” of the transport sector in the Netherlands and other European countries, as reported in a statement sent to the National Securities Market Commission (CNMV)
Oil prices fell, retreating from an eight-week high as concerns over the coronavirus crisis in India, the world’s third-largest oil importer, has tempered a rise driven by IEA and OPEC predictions. that demand is getting strong again.