Powell’s uncertainty leaves Europe adrift. Novo Nordisk disappoints – Markets in a minute

Powell’s uncertainty leaves Europe adrift. Novo Nordisk disappoints

Europe started the first session of May in a mixed way. Investors divide their attention between the future of monetary policy and the results season.

The European benchmark Stoxx 600 drops 0.14% to 503.61 points. Among the 20 sectors that make up the index, “oil & gas” is the one that fell the most, falling more than 1%, followed by technology stocks (-1.02%).

On the other hand, the banking (0.86%) and utilities sectors command the gains of the European reference index.

Among the main European cities, Madrid rises 0.12%, London adds 0.41% and Milan increases 0.20%. Frankfurt loses 0.09%, while Paris loses 0.82% and Amsterdam depreciates 0.23%.

Here, the Lisbon stock exchange is on the gains side, appreciating 0.11%.

After the two-day meeting, which ended this Wednesday with the decision to maintain interest rates in the current range between 5.25% and 5.5%, the Fed president warned that “the path forward is uncertain”.

This is because “inflation is still too high. Further progress in reducing it is not guaranteed”, explained Jerome Powell.

In addition to digesting the Fed president’s words, investors are preparing to learn about the accounts of North American Apple – which, as it is not listed in Europe, could give signals about the future performance of the technology sector – which will be presented this Thursday .

Investors are paying close attention to the performance of Novo Nordisk shares. The pharmaceutical company drops 2.42%, after quarterly results disappointed the market.

Shell, on the other hand, rose more than 1%, after the oil company reported profits, which were higher than expected, and announced a share buyback program worth 3.5 billion dollars, the equivalent of 3.27 billion euros at the current exchange rate.