(CercleFinance.com) – European stock markets start the week down (-0.6% in London, -0.5% in Frankfurt and -0.4% in Paris), in the wake of statistics illustrating a situation worrying for the continent’s leading economy.
After a virtual stagnation (-0.1%) in May, German industrial production in fact fell by 1.5% in June 2023 compared to the previous month, a contraction driven in particular by the automobile industry (-3, 5%).
“We expect German industrial production to decline further for the rest of the year as high interest rates and weakening demand weigh down,” Capital Economics warned.
Other data expected this week include France’s unemployment rate and UK GDP for the second quarter, as well as US inflation figures for July.
On the front of the quarterly publications of companies, are planned for example those of Glencore, Ahold Delhaize, Allianz, Siemens and ThyssenKrupp in Europe, as well as that of Walt Disney in the United States.
Meanwhile, Siemens Energy fell more than 2% in Frankfurt as the power plant maker slashed its annual targets due to weaker prospects for its wind turbine subsidiary Siemens Gamesa in its quarterly release.
Conversely, PostNL wins more than 7% in Amsterdam, the postal group having raised its forecasts for annual results, helped by the good performance of its parcel delivery activities during the past quarter.
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