European stock markets close mostly higher with a boost from the technology sector
European stock markets closed mostly higher this Thursday (9), recovering part of the losses from the previous session, driven by the advance in shares of semiconductor and technology-intensive companies. Investors, however, remained attentive to developments in the conflict between the United States and Iran, in addition to the release of the June minutes of the European Central Bank (ECB), which reinforced concerns about inflation in the euro zone.
London differed from other places, pressured by the sharp fall of AstraZeneca.
In London, the FTSE 100 closed down 0.16%, at 10,472 points. In Frankfurt, the DAX rose 0.83%, to 25,104 points. In Paris, the CAC 40 gained 0.90%, at 8,326 points. In Milan, the FTSE MIB advanced 1.09%, to 52,381 points. In Madrid, the Ibex 35 rose 1.17%, to 19,328 points. In Lisbon, the PSI 20 gained 0.43%, at 9,123 points. Quotes are preliminary.
In macroeconomic news, the minutes of the ECB's June meeting showed that leaders continue to see inflationary risks tilted upwards, especially given the possibility of new shocks in energy prices linked to the conflict in the Middle East. The document indicates that inflation may remain above the 2% target until the first half of 2027. For ING, the minutes reinforce that the June interest rate hike reflected the deterioration of inflation prospects and maintains a new increase of 25 basis points in September as the base scenario.
Among stocks, AstraZeneca fell 7.32% after reporting that the drug Wainua did not meet the primary objective in a clinical study for a rare heart disease. On the other hand, shares linked to the semiconductor sector sustained gains on the continent, with emphasis on Siltronic (+13.79%), STMicroelectronics (+7.15%), Infineon (+4.51%), ASML (+4.97%) and Soitec (+7.33%), benefiting from the recovery of the technology sector (+2.7%).
In Madrid, Santander (+1.87%), BBVA (+1%) and Inditex (+2.66%) also contributed to the positive performance of the Ibex 35, amid the apparent improvement in trade relations between Spain and the USA.
*With information from Dow Jones Newswires
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Source: CNN