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Europe smiles on the last day of the quarter, but the balance is negative

Western Europe’s main markets are trading in positive territory on the last day of the month, but are still heading for the third consecutive week in the red.

The last day of September also marks the end of the quarter, the third with a negative weekly balance, the highest number of quarterly declines since 2009.

The Stoxx 600 – the benchmark for Europe – rose 0.87% to 386.22 points, with all sectors in positive territory.

Among the biggest gains is retail, which fell to its lowest in a decade on Thursday after the release of results from Hennes & Mauritz (H&M) and Next Plc, which fell short of forecasts.

Still appreciating above 1% is the banking sector, oil and gas, automobiles, as well as travel.

Supporting the positive sentiment from investors is the release of preliminary inflation in France, which reached 5.6% in September, down 0.3 percentage points from August.

In a statement, the National Statistics Institute (INSEE) explains that this reduction in inflation is due to a slowdown in the increase in energy prices.

Among the main Western European indexes, the French CAC-40 jumps 1.21%, the Italian FTSEMIB gains 1.08% and the German Dax adds 1.01%. In Amsterdam, the AEX is up 0.96%, the Spanish IBEX 35 is up 0.86% and the British FTSE 100 is up 0.47%.

In Lisbon, the PSI is the index that rises the most and gains 1.31%.

Source: Jornal de Negócios by www.jornaldenegocios.pt.

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