(CercleFinance.com) – Little movement at work on the European stock markets: if Paris grabs some 0.3%, London assumes only 0.1% while Frankfurt yields 0.2%.
The session could liven up in the middle of the day with the expected publications of several heavyweights of the rating in the United States, including the banks JPMorgan Chase, Citi and Wells Fargo.
Boding well for the earnings season, the agribusiness group PepsiCo and the airline Delta Airlines both raised their annual targets on Thursday, on the occasion of their second quarter publications.
“The weak US CPI in June appears to have given investors hope that inflation could return to normal levels without the economy slowing down too much, if at all,” Capital Economics further noted.
“We continue to believe that the possibility of a deeper economic slowdown is underestimated, which we believe could reverse the recent strength in equities,” however warned the London office.
On the statistical front, the trade balance of the euro area, seasonally adjusted, recorded a deficit of -0.9 billion euros in May 2023, a strong improvement compared to that recorded in April (-8 Billions of Euro’s).
Eurostat, which publishes these figures, explains that eurozone seasonally adjusted exports rose 2.9% month-on-month, while imports fell 0.1%.
Operators are now awaiting US import prices for June and the UMich US consumer confidence index due this afternoon.
In the news of European stocks, Nokia indicates that it is lowering its target ranges for the year 2023, to between 23.2 and 24.6 billion euros for turnover and to between 11.5% and 13% for comparable operating margin.
Holcim announces that it has been selected for three European Union (EU) Innovation Fund grants for ‘breakthrough’ carbon capture and storage (CCUS) projects in Belgium, France and Croatia.
Finally, BAE Systems reports that British engineers have successfully completed a stratospheric flight test of the PHASA-35 drone. Over a 24-hour period, PHASA-35 climbed over 66,000 feet, reaching the stratosphere, before landing successfully.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
