(CercleFinance.com) – Pending the Jackson Hole meeting scheduled for the weekend, European stock markets are recovering on Monday (+0.5% in London, +0.7% in Frankfurt, +1% in Paris), after a difficult week for the equity markets.
“Markets are being hit by the perfect storm, amid rising rates, deteriorating economic data in China, low summer liquidity and a buyers’ strike,” Barclays said last Friday.
No macroeconomic data is scheduled for Monday, but the next few days will see the appearance of the PMI indices in flash estimation, then the business climate indices in France and Germany for the current month.
Above all, the traditional annual symposium of central bankers in Jackson Hole (Wyoming) should attract the attention of investors at the end of the week, in view of the monetary policies that will be implemented in the coming months.
‘Our American economists do not expect Jerome Powell to send strong signals on the short-term political trajectory. However, recent years have seen it deliver important longer-term political messages.
‘In particular, last year he delivered a fairly short and direct message about the importance of price stability, which left little doubt about the Fed’s determination to bring inflation back to target’ , recalls the German establishment.
According to Deutsche Bank, China should also remain at the heart of concerns this week, despite the will displayed Sunday by the central bank ‘to encourage banks to increase their loans to support growth’.
In the news of values, Virbac is the red lantern of the Parisian SBF120 with a decline of almost 4%, weighed down by a deterioration of recommendation at Stifel from ‘buy’ to ‘keep’ on the title of the animal health group.
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