(News Bulletin 247) – The main European stock markets are down slightly this morning, Frankfurt loses 0.1% ahead of Paris (-0.2%) and London (-0.4%)

Investors seem to be taking a wait-and-see stance, waiting for things to move the market in direction.

Many strategists point out that the buoyant winds that have recently supported the indices are turning: interest rates are rising, inflation is struggling to ebb and the cost of capital is rising.

For some, a liquidity crisis could even threaten the markets, with a risk of destabilization as a result, not to mention the persistent uncertainties that surround growth and keep stakeholders in a state of alert.

“In addition, we are seeing a clear dissonance between the Fed, which does not envisage any rate cuts, the resilience of equity markets and the expectations of bond markets – which are pricing in rate cuts as of this year”, underlines Laura Corrieras, portfolio manager. portfolio manager at Indosuez Wealth Management.

On the statistical front, investors learned this morning of a 0.4% decline in orders in the German manufacturing industry (on a seasonally and calendar-adjusted basis) in April 2023 compared to March, according to the provisional results from Destatis.

Separately, retail sales were unchanged in the eurozone in April from the previous month, data released by Eurostat on Tuesday showed.

In European company news, GSK announces that the U.S. Food and Drug Administration (FDA) has accepted the Supplemental Biologics License Application for Jemperli (dostarlimab) in combination with chemotherapy for the treatment of breast cancer. advanced or recurrent primary endometrium.

In addition, Kone Corporation announces that it has won two orders to supply a suite of People Flow® solutions, including 57 Kone escalators for nine new stations on two lines (blue and yellow) of the ongoing Stockholm metro extension.

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