The main European indices are declining today while the American indices (at the close of the European session) are showing progress pending the Fed’s decision on monetary policy.
US CPI data for November confirms the fifth straight month of a downward path in inflation. Despite the good data, uncertainty remains about the path the Fed will take after repeatedly warning that it will keep interest rates high for a long time after the hike process is complete.
On the other hand, European indexes are also awaiting the ECB meeting, where all of them showed gains of 50 basis points, moderate from 75 points at the previous meeting.
In the UK, CPI for November rose 0.4% compared to the 0.6% expected and at a yearly rate slowed for the first time since August (10.7% compared to 11.1% in October), down from a high in 41 years.
In Europe, the Eurostoxx 50 lost 0.29%. In turn, the European Stoxx 600 indicator fell due to real estate companies, necessity and basic consumption, compared to the materials, technology and energy sectors which suffered losses.
In Spain, the Ibex 35 closed above 8,300 points after gaining 0.40%. Among its components, the biggest revaluations were Inditex (3.07%), Grifols (2.66%) and Colonial (2.45%). In contrast, the biggest declines were recorded in Arcelor (-4.17%) and Acerinox (-3.39%).
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