(CercleFinance.com) – While London and Paris are hovering around their balances at the start of the week, a positive bias prevails over the other major European markets, in particular Frankfurt (+0.7%) against the backdrop of rather encouraging message published this morning in Germany.
In September, German industrial production increased by 0.6% compared to the previous month, after a drop of 1.2% (revised from a provisional estimate which was -0.8%) in August compared to July.
‘While most sectors are drawing on their large order books, energy-intensive sectors continue to reduce production in view of high energy costs’, we qualify at Commerzbank.
“As industry faces headwinds (energy, interest rates, slowing demand), we still expect industrial production to contract over the next few months,” Capital Economics warns.
Other data expected in the coming days include retail sales in the euro zone in September, a first estimate of British GDP in the third quarter and inflation in the United States for October.
The week should be busy on the European business publications front, with for example those of Deutsche Post, Ahold Delhaize, Commerzbank, Crédit Agricole, AstraZeneca, ArcelorMittal, Allianz and Richemont.
Meanwhile, Ryanair wins nearly 4% in Dublin as the low-cost carrier returned to profit in its first half of 2022-23, ‘thanks to record traffic in the second quarter, strong operational reliability and fares robust summer trees’.
GSK drops 3% in London as the phase III trial of its Blenrep monotherapy in patients with relapsed or refractory multiple myeloma failed to reach its primary endpoint of progression-free survival.
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