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Asian stock markets closed higher and Europe is rehearsing a recovery waiting for the PCE.

Asian stock markets close higher and Europe rehearses recovery while waiting for the PCE.

Asian stock markets closed  higher this Friday, in a recovery from yesterday’s losses, as investors await US inflation data that could influence the trajectory of American basic interest rates.

Japan’s Nikkei  index rose 0.61% in Tokyo to 39,583.08 points, boosted by shares of machinery manufacturers, trading companies and banks, as the recent weakness in the yen improves the outlook for profits, while South Korea’s  Kospi  advanced 0.49% in Seoul to 2,797.82 points, the  Taiex  posted a gain of 0.55% in Taiwan to 23,032.25 points, and the  Hang Seng  was virtually safe in Hong Kong, with a marginal rise of 0.01% to 17,718.61 points.

In mainland China, markets also ended the session in the green, helped by the strong performance of telecommunications stocks. The  Shanghai Composite Index  rose 0.73% to 2,967.40 points, while the smaller  Shenzhen Composite Index  advanced 0.25% to 1,618.07 points. China Telecom and China Mobile rose 2.8% and 2.6%, respectively.

In the next few hours, the US will release its monthly survey on its PCE inflation, which tends to help the Federal Reserve (Fed, the American central bank ) to define whether and when it will be able to start cutting interest rates.

In Oceania, the Australian stock market rose slightly , thanks to the strength of banking sector shares. The S&P/ASX 200 advanced 0.10% in Sydney, to 7,767.50 points.

European stock markets rehearse recovery

European stock markets are   attempting to recover from yesterday’s losses on Friday morning, awaiting inflation data from the US, but Paris stock markets are trading lower since the start of the week , weighed down by the political risk of the French legislative elections at the end of the week.

At around 6:15 a.m. (Brasília time), the pan-European Stoxx 600 index was up 0.22%, at 513.74 points. Only the oil and gas sub-index rose 1%, amid the strength in oil prices, while the banks index rose 0.60%.

Investors in Europe and other parts of the world are awaiting, in the next few hours, the monthly survey on US PCE inflation – the  Federal Reserve’s (Fed) preferred price metric – which could have a crucial influence on the trajectory of US base interest rates in the second half of the year.

From today’s European agenda, the highlight is the United Kingdom’s Gross Domestic Product (GDP) for the first quarter, which was revised upwards and showed growth of 0.7% compared to the previous three months, in the final reading.

At 6:31 am (Brasília time), the London Stock Exchange rose 0.54% and the Frankfurt Stock Exchange increased 0.63%, while those in Milan and Madrid showed increases of 0.49% and 0.41%, respectively, and that of Lisbon teetered close to safety .

Paris, on the other hand, fell 0.33% amid fears that the far right will win France’s parliamentary elections, as polls suggest. The first time of the French electoral dispute is scheduled for Sunday (30).

*With information from Dow Jones Newswires and Estadão Conteúdo

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