(CercleFinance.com) – The main European stock markets are up this morning: Frankfurt claims 1.6% ahead of London (+1%) while Paris brings up the rear with +0.3%.
The markets seem to react favorably to the release of the seasonally adjusted euro zone trade balance. This improved to -26 billion euros in May, against -31.8 billion in April, as exports increased by 4.8%, while imports rose by only 2%, according to Eurostat.
For the EU as a whole, the trade deficit fell from -44.2 to -35.5 billion euros month on month: exports increased by 5%, while imports increased by only 0.6%.
On the other hand, investors seem to be ignoring worrying data published overnight concerning the Chinese economy, which only grew by 0.4% year-on-year in the 2nd quarter. “Compared to the first quarter, it even contracted”, points out Commerzbank, explaining that the containment measures of the spring have strongly slowed down growth.
“However, the situation improved during the quarter following the withdrawal of most containment measures, as shown by the data on industrial production”, tempers the German bank.
Many American statistics are expected this afternoon: operators will thus learn about the Empire State index, retail sales and import prices, then industrial production for the month of June, and finally stocks. of businesses and the University of Michigan confidence index.
The session will also be marked by a new burst of results from major American banks: after JP Morgan and Morgan Stanley on Thursday, it will notably be the turn of Wells Fargo and Citi to unveil their quarterly reports.
In European securities news, Ericsson says it has received clearance from the Committee on Foreign Investment in the United States (CFIUS) to complete its acquisition of cloud-based communications provider Vonage Holdings Corp.
Porsche announces that it sold 145,860 vehicles during the first six months of the year, a decline of 5% compared to the same period a year earlier (153,656).
Electrolux is launching the Appliance-as-a-Service program, intended to promote the circular economy, and having signed with one of Sweden’s largest appliance owners, SKB, as its first customer.
Finally, Richemont recorded double-digit revenue growth in the 1st quarter (ending June 30) to 5,264 ME at actual exchange rates (+20%) and at constant exchange rates (+12%).
Copyright (c) 2022 CercleFinance.com. All rights reserved.