European stock markets open the month with losses after the Eurozone PMI

European stock markets open the month with losses after the Eurozone PMI

The main European stock markets have closed with losses of more than 1% this Thursday in a day in which the decrease in unemployment in the Eurozone to 6.6% in July has been known, while manufacturing activity has fallen in August to lows of mid 2020.

In this way, London has fallen by 1.86%, Frankfurt by 1.6%, Paris by 1.48%, Milan by 1.19% and Madrid by 1.02%. The Euro Stoxx 50, an index that represents the large European listed companies, lost 1.72%.

The session has been marked by losses since the opening once the Asian stock markets closed with declines after learning about the industrial slowdown in China and have been underpinned by the negative opening of Wall Street, whose main indicator, the Dow Jones, fell 0.26% at closing time in Europe.

On the day, the reduction to its historical minimum of the unemployment rate in the Eurozone in July was published, which stands at 6.6% after falling one tenth, while the manufacturing PMI for August has dropped two tenths and continues to contraction zone with its worst data since June 2020.

By contrast, the US manufacturing ISM has held and caused the euro to depreciate 1.13% against the “greenback” at the close of markets, at $0.994 per exchange.

In the commodity market, Brent oil, a benchmark in Europe, fell 4% and traded at $92.65 a barrel, while WTI Intermediate, a benchmark in the US, fell 2, 28% and is trading at $89.55 a barrel.

The price of Dutch TTF gas, a reference in Europe, rose 9.22%, to 250 euros per megawatt (MWh), after chaining four days of declines.

In the secondary debt market, the profitability of all the countries of the eurozone has risen slightly compared to the day before and the interest on the ten-year German bond, considered the safest, has closed at 1.555% after rising two basic points.

The troy ounce of gold falls 1.02% to $1,693, levels not seen since March 2021, and bitcoin loses the $20,000 mark at the close of the session after falling 1.9%.

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