Piazza Afari and European stock exchanges are expected to open sharply. Topics that will highlight today’s session

Milan (Finanza.com)

European stock exchanges, including Piazza Avary, are expected to open significantly lower in the wake of Wall Street and Tokyo, after the statements of Jerome Powell, Federal Reserve Chairman, confirming the scenario of a half-point rate hike at the beginning of May and a series of additional revisions.

“It is appropriate, in my view, to move a little faster” in the rate-raising cycle, the Fed chair said at an event organized by the International Monetary Fund, adding that “I would say a 50 basis point close will be on the schedule at the next meeting in mayo “.

Meanwhile, in the Eurozone, the scenario of a first rate hike in July continues to consolidate according to statements by ECB officials.

Thus, the overall climate is unfavorable for stocks, especially as prolonged restrictions in China risk fueling inflation in the coming weeks and months, affecting activity.

In this context, preliminary reading of manufacturing and services PMIs for the UK, France, Germany, the Eurozone will be observed in the morning and the US in the afternoon in April. Mps Capital Services analysts warn “the slowdown is expected to slow both in the manufacturing component and in the services” especially French and German.

Also on the session’s list is a speech by Christine Lagarde, President of the European Central Bank, at an event for the Peterson Institute.

On the corporate front, quarterly results are planned for several large European groups, including SAP, Renault and EssilorLuxottica.

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