(CercleFinance.com) – European stock markets posted more or less pronounced gains this Wednesday (+0.4% in London, +0.1% in Frankfurt and Paris), investors seeming to hope for prospects of more accommodating monetary policies .
‘Markets continue their upward movement on hopes of a dovish central bank pivot and renewed confidence that the tightening cycle of major central banks has reached its peak,’ according to Kiplink.
‘Recent economic data pointed to a likely recession for the eurozone in the final quarter of the year, but this has boosted investor optimism that the ECB’s streak of interest rate hikes will end ‘, he recalls.
Moreover, after an increase of 0.7% in September, orders to German industry fell by 3.7% in October compared to the previous month, according to data adjusted for seasonal and calendar variations from Destatis.
‘However, as has often been the case in previous months, this strong movement is due to that of large orders, a category without which orders actually increased by 0.7%’, Commerzbank notes however.
In stock news, spirits stocks Rémy Cointreau (-3% in Paris) and to a lesser extent Diageo (-1% in London) are suffering from recommendation downgrades at UBS, to ‘sell’ and ‘neutral’ respectively. ‘.
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