(CercleFinance.com) – European stock markets are hardly deviating from their balances overall (-0.4% in London, -0.1% in Frankfurt, +0.1% in Paris), after the publication contrasting PMI indices in the region and before entering the tough results season in the United States.
According to its flash estimate, the S&P Global composite PMI index for euro zone activity recovered for a third consecutive month in January, to 50.2 from 49.3 in December, and thus rose back above above the bar of 50 of no change.
‘The chances of the euro zone escaping a recession appear to be growing,’ said S&P Global, adding that ‘the contraction may have peaked in October, when fears of an energy crisis began to fade’.
‘With employment intentions and pricing pressures still high, there is nothing to prevent the ECB from raising rates another 100 basis points over the next two months, and possibly beyond’, warns Capital Economics, however.
In the United Kingdom, the decline in activity in the private sector was accentuated in January, according to the ‘flash’ composite PMI index which fell back to 47.8 this month, a low of two years.
Investors also seem to favor caution before an afternoon which will see, in addition to the flash PMI index of the United States, the quarterly of several heavyweights of the rating, such as 3M or J&J.
In European stock news, Swatch gained more than 1% in Zurich, the watch manufacturer having indicated that it was aiming for a record year in 2023, on the occasion of the publication of improved results over the past year.
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