(CercleFinance.com) – The European stock markets are starting with a certain caution (-0.1% in London, -0.5% in Frankfurt and Paris) a week which promises to be particularly busy, both on the macroeconomic level and on the that of business results.
‘The main event will be Thursday’s ECB meeting, where a 50 basis point hike appears to be a done deal,’ Capital Economics noted last week, adding that ‘euro area growth prospects look bleak ‘.
Besides the ECB meeting, as well as those of the Bank of England and the Fed, traders will be scrutinizing several major statistics these days, including PMI activity indices, growth and inflation in the euro zone. , or employment in the United States.
In the meantime, it should be noted that Destatis reported a contraction of 0.2% in German GDP in the fourth quarter of 2022, and that the ESI index of economic sentiment – calculated by Brussels – climbed by 2.8 points to 99. .9 in the euro zone in January.
The week also promises to be rich on the corporate results front, with, for example, those of groups such as Shell and Sanofi on the old continent, or even Caterpillar, Meta Platforms and Merck across the Atlantic.
So far, Philips has jumped more than 6% in Amsterdam as the medical device maker reported better-than-expected quarterly profit and unveiled a plan to create value through a simplified operating structure.
Ryanair, on the other hand, lost 1% in Dublin, despite the low-cost carrier’s return to profits in the last three months of 2022, thanks to the strength of traffic during the festive period which supported the price of its tickets.
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