(CercleFinance.com) – European stock markets fell slightly (-0.1% in London, -0.2% in Frankfurt and -0.3% in Paris) after unsurprising inflation figures in the euro zone , two days away from a very likely increase in key rates by 25 basis points by the ECB.
Driven above all by the strength of energy prices, the annual inflation rate in the euro zone rose to 8.6% in June, against 8.1% the previous month, according to Eurostat, which therefore confirms its flash estimate for June in the euro zone.
‘The final inflation data for June confirms that price pressures are very strong. Whether or not the ECB increases by 50 basis points on Thursday, we think it will be the start of 12 months of aggressive tightening,’ commented Capital Economics.
Moreover, the latter notes ‘a strong increase in employment and a recovery in wage growth’ in the United Kingdom, which ‘reinforces him in his opinion that the Bank of England will have to raise its key rate to a high of 3%’.
This afternoon in the United States, operators still have to take note of the residential construction figures for the month of June, as well as the results of groups such as Johnson & Johnson and Lockheed Martin.
In the meantime, Novartis is grabbing nearly 1% in Zurich, after the publication by the health group of a core EPS up 1% at constant exchange rates, for its second quarter, as well as the confirmation of its objectives. for the whole exercise.
EDF jumped nearly 15% in Paris, while the French State, majority shareholder of the electrician, announced its intention to buy the 15.9% of the capital held by third parties, with the aim of withdrawing the company from the side.
Copyright (c) 2022 CercleFinance.com. All rights reserved.