(CercleFinance.com) – European stock markets are starting the week with relative optimism (+0.4% in London, Frankfurt and Paris), while operators seem to be hoping for an easing of the severe financial turbulence experienced by the United Kingdom on previous days.
‘The new British Finance Minister, Jeremy Hunt, has pledged to restore the UK’s economic credibility by monitoring the government’s budgetary and tax measures to the penny,’ notes Aurel BGC.
‘In an op-ed in The Sun, Liz Truss acknowledged that her initial economic plans had gone ‘further and faster than markets expected’. The new budget plan that Jeremy Hunt must present on October 31, ‘he continues.
Only the New York Fed’s Empire State index is expected as US data on Monday, but the next few days will also see the release of industrial production, residential construction and the Conference Board’s leading indicators, among others.
On this side of the Atlantic, the ZEW economic sentiment index in Germany, inflation figures in the euro zone and the United Kingdom, and the business climate index in France are expected this week. .
Above all, the week will see the quarterly results season ramp up, with, for example, those of J&J, Goldman Sachs, P&G, IBM, Tesla or AT&T in the United States, or those of ASML, ABB and Nokia in Europe.
In the meantime, Credit Suisse gained 1% in Zurich, after the bank announced a final settlement with the American courts regarding its residential mortgage-backed securities (RMBS) business.
Nokia and Ericsson are also advancing by around 1% each on the OMX, while the two Nordic network equipment manufacturers have separately announced major 5G contracts with Reliance Jio, India’s leading mobile operator.
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