(News Bulletin 247) – While London remains closed, continental markets are starting the week overall without major changes (+0.1% in Frankfurt, sluggish in Paris), despite the announcement this weekend of an agreement in Washington to raise the debt ceiling.
The prospect of such a compromise between the Biden Administration and the Republican Speaker of the House of Representatives, which therefore removes the specter of a default by the United States in the very short term, had indeed already supported the European markets on Friday.
No statistics are expected on this Monday of Pentecost in Europe, Spring Festival in the United Kingdom and Memorial Day in the United States, but the next few days still look very busy on the front of macroeconomic data.
In the euro zone, the ESI indices of economic sentiment, the latest inflation and unemployment figures, as well as the manufacturing PMI activity indices are thus expected for the month that is ending.
On the other side of the Atlantic, in addition to the PMI and ISM indices for the manufacturing sector, operators will be attentive to the results of the ADP survey, then to the employment report from the Department of Labor.
Without effect on the trend, Scope Ratings confirmed Friday evening its rating of France at ‘AA’, but revised its outlook from ‘stable’ to ‘negative’, pointing in particular to ‘the risks on the implementation of the reform program of the government’.
‘A vast, diversified and resilient economy, the status of member of the heart of the euro zone, a favorable debt profile, and excellent access to the capital market remain assets’, tempered the rating agency.
In securities news, WPP announces that it is developing with Nvidia a content engine leveraging Nvidia Omniverse and artificial intelligence to “enable creative teams to produce high-quality advertising content” for its clients.
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