Inflation in Germany rose to 8.7% in January, lower than analysts had expected
European stock markets continue to rise and the Ibex-35 takes another step to consolidate 8,200 points. Although the selection fell behind other parquet floors in the region at the end, it eventually rose 0.18% to 9,243 integers, renewing the June 2021 highs after three consecutive increases.
At the top of the table was Aena, up 2.25%, followed by Ferrovial (+1.55%) and Mapfre (+1.19%). The insurance company was the protagonist of the session after announcing an attributable profit of 642 million euros in 2022, down 16.1%.
ArcelorMittal also presented its accounts on Thursday, with an attributable net profit of 9,302 million dollars (8,667 million euros), a decrease of 37.8% compared to the 2021 result. Nevertheless, investors welcomed these figures with increases of almost 1% in the price from the company.
Within the national prosecutor’s office, the losses were led by the Grifols (-2.4%), and by the red numbers of over 2% that Solaria and Fluidra also experienced.
In addition to corporate results, the session was marked by the release of inflation data in Germany, which should have been released last week, but had to be postponed due to technical difficulties.
Finally, the expected CPI for January reached 8.7%. It’s a tenth more than the increase recorded the previous month, but the data is lower than the 8.9% expected by the analyst consensus. In addition, harmonized data – the data Eurostat uses to compile its statistics and compare countries in the region – fell from 9.6% in December to 9.2% in January, the lowest level in five months.
Investors have welcomed this moderation, but they also know that the fight against rising prices still has a long way to go. For this reason, they are already taking into account that the interest rate increase by the European Central Bank (ECB) in March will amount to another 50 basis points. And the loudest voices in the organization are already pointing out that it will not stop there.
Meanwhile, in the commodities market, a barrel of Brent oil, a benchmark in Europe, was at $84.11, down 1.08%, while Texas was around $77.72, down 0.90%.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
