(CercleFinance.com) – A certain caution prevails within the European stock exchanges (-0.1% in London, -0.6% in Frankfurt, -0.3% in Paris), as the publication approaches, in early afternoon, of the latest estimate of inflation in the United States.
‘After very solid employment figures and preliminary data confirming that growth is sustained, the Fed needs a falling inflation figure to validate its disinflation scenario’, points out Christopher Dembik, at Pictet AM .
‘Everything suggests that this will be the case. On the other hand, the strength of the American economy means postponing the prospect of a first rate cut. It certainly won’t be in March and it seems to be less and less likely in May,’ he warns.
While waiting for this meeting, operators took note this morning of a ZEW economic climate index for Germany up for the seventh month in a row in February, by 4.7 points to +19.9, its level the highest in a year.
Other data published this Tuesday on the old continent, the unemployment rate in France according to the ILO stood at 7.5% of the active population in the last quarter of 2023, stable compared to the third quarter whose estimate was increased by 0.1 point.
On the daily publications front, TUI gained 3% in London, the tour operator having revealed a slightly positive underlying EBIT for its first quarter of 2023-24, for the first time over this period of the year.
thyssenkrupp nucera jumped 6% in Frankfurt, after the publication by the specialist in electrolysis equipment for the production of green hydrogen of better than expected first quarter financial results.
Finally, Michelin gained 7% in Paris, the day after the publication of 2023 results which led Oddo BHF to revise upwards its estimates for the tire manufacturer and further confirms its positive opinion of the file.
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