(CercleFinance.com) – The European stock markets lost some ground on Tuesday (-0.2% in London, -0.4% in Frankfurt and Paris), despite the publication, during the morning, of reassuring PMI indices concerning the dynamism of economic activity in the region.
According to its flash estimate, S&P Global’s composite PMI for the eurozone rallied for a fourth consecutive month in February. At 52.3 against 50.3 in January, it thus signals the strongest growth in the private sector since May 2022.
“With a labor market still very tight and strong price pressures, the survey will reinforce the belief of ECB policymakers that their tightening cycle still has a way to go,” warns Capital Economics.
Similarly, the UK’s composite PMI came in at 53, down from 48.5 in January, but ‘strong inflation indicators reinforce the likelihood of further monetary tightening from the Bank of England’ , according to investigators.
Other data from the morning, the ZEW index of economic sentiment in Germany aligned a fifth consecutive month of progress to reach 28.1 points this month, its highest level since the 54.3 points ago. a year.
On the values side, operators welcome a fourth quarter result above expectations from HSBC (+1% in London), the bank having benefited from the good performance of its market activities and a drop in its costs.
Still in London, they are, on the other hand, more reserved about the annual publication of the high-end hotel chain InterContinental (-1%) and especially the semi-annual publications of the mining company BHP (-2%).
Among the companies that unveiled their accounts in Paris, the energy group Engie stands out with a jump of nearly 4%, unlike the IT group Capgemini (-2%) and even more of the payment solutions provider Worldline (- 3%).
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