(News Bulletin 247) – The European stock markets have started the week favorably (+0.6% in London, +1% in Frankfurt and +0.9% in Paris), encouraged by the publication in the morning of an Ifo index of the good business climate in Germany.

While the consensus expected it to be broadly stable, the Ifo index rose from 91.1 points in February to 93.3 points in March, marking its fifth consecutive rise, a development mainly attributable to business expectations.

“This increase suggests that Germany is still benefiting from lower energy prices and easing supply problems and has not yet felt the full effects of tighter monetary conditions,” Capital Economics said.

‘However, even if recession is averted for now, we believe there will be a further downturn later this year due to weak real household incomes and the lagged effect of rising interest rates. ‘interest’, he tempers.

Among the many other data expected at the end of the week in Europe are, for example, the indices of economic sentiment from Brussels, inflation and unemployment in the euro zone, or even the GDP of the United Kingdom.

In the United States also statistics should be monitored, such as the Conference Board’s consumer confidence index, a new estimate of growth, as well as household income and expenditure.

In the news of values, Novartis jumped more than 6% in Zurich, surrounded by the first positive results of a phase III trial evaluating its Kisqali combined with hormone therapy in early breast cancer.

Sanofi is up 2% in Paris, on the back of a favorable rating from Barclays, which raised its advice to ‘overweight’, with a new price target of 115 euros, following ‘impressive’ clinical results for Dupixent last week.

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