(CercleFinance.com) – European stock markets are gaining ground (+0.6% in London, +0.2% in Frankfurt and +0.3% in Paris), thus showing a certain confidence before the publication, at the start of afternoon, particularly expected US inflation figures.
‘The price index will benefit in March from a strong base effect because just a year ago energy prices jumped. The inflation rate should slow down to 5.1%, almost halfway between its peak (9.1%) and the Fed’s target (2%)’, forecast Oddo BHF on Tuesday.
The research department warned, however, that the US central bank ‘is not satisfied with disinflation due solely to energy’, and that it ‘would also like a slowdown in wage gains and service price increases’.
According to him, ‘the Fed is less inclined to raise its key rates than a few weeks ago, but that does not imply that the tightening phase is over, and even less that monetary easing is imminent’.
On this side of the Atlantic, Repsol is more or less stable in Madrid, following a point of activity of the oil group highlighting performance indicators in line, even better than expected, in the first quarter.
Hugo Boss gained less than 2% in Frankfurt, on the back of positive comments from Stifel which reaffirmed its ‘buy’ recommendation with a raised price target, in the wake of higher operating profit assumptions for the clothing group.
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