Published on Nov 22, 2023 at 3:55 p.m.
The European stock markets are likely to slow down this Thursday, with the American markets being closed for Thanksgiving. Wall Street will only reopen on Friday, Black Friday, for half a session. No American figures appear, logically, on today’s agenda.
Note that markets are also closed in Japan for Workers’ Day.
“Several reasons for concern”
On the Old Continent, we expect at 10 a.m. the instant PMI HCOB index of purchasing managers in the manufacturing and non-manufacturing sectors for November in the euro zone just like its comparable in the United Kingdom half an hour later. Concerning the countries of the monetary union, “ after a sharp decline in the second and third quarters, the composite PMI seemed to show signs of stabilization at the end of the summer, but its current level (46.5) is undoubtedly associated with a contraction in activity, estimated the Oddo BHF firm at the start of the week. On the positive side, [pour ces données préliminaires du mois de novembre], the risk of energy disruptions seems low: gas reserves are full, the French nuclear fleet has ramped up. On the negative side, there are several reasons for concern. » Among them a labor market which is showing signs of weakening and bank credit suffocated by the sharp rise in interest rates, with its consequences on demand. In France, the business climate indicator for the same month will be published before the opening.
In the middle of the day, the minutes of the last monetary policy meeting of the European Central Bank will be revealed.
In terms of companies, Amplitude Surgical publishes its turnover for the first quarter of its 2023-2024 financial year. Eutelsat Communications brings its shareholders together for a general meeting.
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