Wall Street loses steam with uncertainty over Fed rate cuts – Markets in a minute

Europe mostly on the rise. Vonovia’s losses put pressure on the real estate sector

The main European indices are trading mostly higher. Investors are evaluating the path of central banks’ monetary policy, after inflation figures in the United States were higher than expected.

The European benchmark index, Stoxx 600, drops 0.07% to 506.05 points. The “benchmark”, however, is heading towards its eighth consecutive week of gains. If confirmed, it will be the longest series since 2018.

Recording the biggest losses is the real estate sector, penalized by the decline of Vonovia, which loses more than 6.5%, after revealing that it recorded the biggest loss ever in its 2023 results, of 7.35 billion euros , penalized by the devaluation of its real estate assets.

Already in a positive direction is the telecommunications sector, which rises by close to 1%, after Swisscom announced that it will acquire Vodafone Italia for eight billion euros and merge the company with its subsidiary Fastweb.

Although several European Central Bank officials have stated in recent days that they are open to possible interest rate cuts at the June meeting, the higher-than-expected inflation figures in the US are generating some caution.

Among the main indices in Western Europe, the German Dax rose 0.01%, the French CAC-40 added 0.05%, the Italian FTSEMIB gained 0.12% and the Spanish IBEX 35 rose 0.51%. Here, the PSI jumps 1.71%.

In Amsterdam, the AEX registered a decrease of 0.17% and the British FTSE 100 dropped 0.1%.