(CercleFinance.com) – While London only gained 0.5%, the other European markets posted more pronounced gains (+1.2% in Frankfurt, +1.5% in Paris), against a backdrop of a slowdown in the contraction of private sector activity in the euro zone, according to S&P Global.
Its final composite PMI index measuring overall activity in the region rose from 47.8 in November to 49.3 last month, a recovery which was also accompanied by a marked deceleration in price increases.
‘The PMIs suggest that the eurozone economy held up better than expected in the fourth quarter, while remaining compatible with a slight recession, and that price pressures remain very high’, tempers Capital Economics.
“The uncertainty surrounding the evolution of the cost of energy, the persistence of high inflation and the tightening of financial conditions continue to weigh on business confidence,” warns S&P Global.
Other data from the morning, inflation in consumer prices in France would have slowed to +5.9% at an annual rate in December 2022, thus confirming the trend observed the day before in Germany where it was announced to be down to +8.6%.
In the news of values, Heineken takes more than 2% and thus signs one of the strongest increases in Amsterdam, thanks to an increase in advice from Barclays to ‘weight online’, the broker judging the profile of the ‘more balanced’ brewer in the short term.
AstraZeneca gains more than 1% in London, the European Medicines Agency having validated a qualitative modification relating to the approval of its drug Enhertu in the treatment of non-small cell lung cancer.
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