(CercleFinance.com) – If London moves into the green (+0.4%) in the wake of HSBC’s solid results, the continental places are losing ground (-0.3% in Frankfurt, -0.2% in Paris), not taking advantage of the major data published this morning in the euro zone.
Eurostat reported stability in the zone’s annual inflation rate in April, at 2.4%, and above all stronger than expected growth of 0.3% of its GDP in the first quarter, coming after a contraction of 0.1% the previous quarter.
‘The euro zone has emerged from recession, but with a fall in core inflation and services inflation in April, this will not prevent the ECB from starting its easing cycle in June’, reacts Capital Economics.
The latter specifies that the GDP of Germany and France increased by 0.2%, that of Italy by 0.3% and that of Spain ‘showed a striking growth rate of 0.7 % which appears to be entirely due to strong tourism figures’.
Despite these reassuring figures, European markets are still facing uncertainties surrounding the Fed’s tone on Wednesday evening, with investors fearing the language that will be distilled on this occasion by Jerome Powell.
In stock news, HSBC gains nearly 4% in London, the largest bank in Europe in terms of assets having revealed a quarterly profit above expectations and announced the upcoming departure of its managing director Noel Quinn.
Among the other company publications of the session, operators sanction those of the automobile manufacturers Volkswagen (-2%) and Mercedes-Benz (-4%) in Frankfurt, Stellantis (-2%) in Paris, as well as the bank Santander (-3%) in Madrid.
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