(CercleFinance.com) – European stock markets start the week more or less stable overall (+0.1% in London and Frankfurt, -0.1% in Paris), after the publication of two major data concerning the zone euro during the morning.
According to rapid estimates from Eurostat, GDP in the area increased by 0.2% in the third quarter compared to the previous one, and inflation accelerated much more than expected in October to reach 10.7% on an annual basis.
‘Inflation data increases the likelihood that the ECB will raise its key rates again by 75 basis points in December, especially as the euro economy has further progressed’, reacts at Commerzbank.
In the days to come, operators must still take note of the PMI and ISM activity indices in Europe and the United States, the American report on employment, as well as the monetary policy decisions of the Fed and the Bank from England.
‘For the fourth time in a row, the Fed’s monetary policy committee will raise rates by 75 basis points. At this rate, the gap with the terminal rate tends to reduce but this is not the guarantee that the end is near, ”we warned last Friday at Oddo.
‘Weaker UK GDP will help ease domestic price pressures, but not soon enough to prevent the Bank of England from raising rates,’ Capital Economics said a decade ago, seeing the key rate rise as high as at 5%.
In addition, the earnings season will continue to be in full swing this week with, for example, Pfizer, AMD, Qualcomm, Moderna and Starbucks in the United States, or even BP, GSK, Adecco, BNP Paribas, BMW, Solvay and Société Générale in Europe. .
For the time being, the shares of the healthcare group Fresenius and its dialysis subsidiary Fresenius MedCare are gaining 3% in Frankfurt after their quarterly publications, despite lowering the outlook for net profit for the current year.
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