(News Bulletin 247) – European stock markets are posting more or less significant gains (+0.2% in London and Frankfurt, +0.7% in Paris), while all eyes are on the Bank of England ( BoE) which is due to reveal its monetary policy decision mid-session.
‘In terms of what to expect, it is widely expected that the Bank of England will hike another 25 basis points, which would take the Bank Rate to a post-2008 high of 4, 5%’, emphasizes Deutsche Bank.
The latter highlights inflation in the United Kingdom that is still higher than that of other developed countries, with an annual rate of +10.1% in March, higher than those observed in the euro zone (+6.9%) and the United States (+5%) for the same month.
While waiting for this meeting, as well as the American producer prices which should appear at the beginning of the afternoon, the operators arbitrate between the numerous business publications of the morning on the old continent.
ING thus wins more than 3% in Amsterdam, surrounded after the announcement by the bank of an almost quadrupling of its net profit for the first quarter of 2023, as well as a share buyback program for up to to 1.5 billion euros.
Conversely, thyssenkrupp lost more than 3% in Frankfurt, the industrial group having suffered a net loss in respect of its second accounting quarter, ‘in a difficult environment with the persistence of energy prices and high inflation ‘.
Investors are also rather positive about the quarterly Engie (+1% in Paris), Deutsche Telekom and RWE (+1% each in Frankfurt), but shun those of Telefonica (-3% in Madrid) and Bayer (-6% in Frankfurt).
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
