At the beginning of the week, investors will learn about the final S&P PMI indices in the euro zone and the United States in the manufacturing sector. The preliminary estimate showed a further dip in the monetary union’s purchasing managers’ confidence in the manufacturing sector. LPMI index fell to 49.6 in July, below the fateful 50 point mark, synonymous with a contraction in activity. The final PMIs for the France and of germany are expected at 49.6 and 49.2 respectively, while the US comparable is expected at 52.3 (53 the previous month).
The manufacturing ISM under surveillance
Across the Atlantic, investors will scrutinize the index more Manufacturing ISMmore representative of the evolution of the activity in the country. Published at 4 p.m., it is expected to fall to 52.1 in July, from 53 in June. If the figure were to be confirmed, it would be the lowest seen since April 2020. Operators will also monitor the health of the real estate market through construction expenditure indexwhich should pick up again in June, rising by 0.3% (against -0.1% in May).
Within the Middle Kingdom, after the Official manufacturing PMIestimated from data collected by the National Bureau of Statistics and revealed overnight from Saturday to Sunday, operators are waiting for the Caixin PMI, still in the manufacturing sector. This index, which focuses more on small private companies and exporters than the official measure, should fall from 51.7 to 51.5 between June and July (Bloomberg consensus). It would be penalized in particular by the weakening of the activity of commercial partners and the rise in cases of Covid-19.
On the securities front, the British bank HSBC will unveil its quarterly accounts before the opening of the City, while the video game publisher, Activision Blizzard, will publish its own after the close of Wall Street. In France, investors will scrutinize the results of the first half of DBV Technologies and of SMCPand the annual turnover of Bonduelle and Vilmorin & Co..