(CercleFinance.com) – The European stock markets are moving forward (+0.5% in London, +0.3% in Paris and Frankfurt) in this last session before the long Easter weekend, the old continent traditionally remaining closed for Good Friday.
‘In this context, the acceleration of growth in services activity in China may be good news, the PMI Caixin index having increased by 2.8 points to 57.8 in March, its highest level since November 2020’, points Kiplink.
“But this improvement is mainly due to a recovery in consumption after the lifting of health restrictions”, he continues, adding that the weekly registrations for unemployment benefits in the United States should attract attention this afternoon.
In the meantime, German industrial production increased by 2% in February compared to the previous month, after an increase of 3.7% in January, ‘which more than compensated for the significant drop recorded in December (-2.4% )’, according to Destatis.
“However, with high interest rates and inflation likely to weigh heavily on demand, we still believe a recession in the economy as a whole is likely over the remainder of this year,” Capital Economics said.
On the values front, Shell climbed nearly 2% in London after a point of activity considered reassuring by the energy company regarding its first quarter performance, which does not seem to have suffered too much from the fall in gas prices.
BMW, on the other hand, yields nearly 1% in Frankfurt, the title of the automaker suffering from a degradation by Goldman Sachs of its recommendation from ‘buy’ to ‘neutral’, with a target price reduced from 113 to 109 euros.
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