(News Bulletin 247) – The main stock markets are moving without a clear direction this morning: if Paris gains nearly 0.5%, Frankfurt stagnates in equilibrium while London gives up 0.4%.

Markets remain concerned about the cycle of central bank tightening aimed at countering inflation. Rising rates weigh on the global economy and raise the specter of a possible recession.
As such, the inflation figures in the USA expected tomorrow will be particularly scrutinized by operators.

On the statistics front, investors were able to learn at the end of the morning of the ZEW economic climate index for Germany, assessing the country’s economic prospects.
This recorded a drop in the current survey of July 2023: at -14.7, it is 6.2 points lower than its value for the previous month.

‘Financial market experts predict a further deterioration in the economic situation by the end of the year’, underlines the ZEW, which points to the anticipation of short-term interest rate hikes in the euro zone and the United States and China’s weakness.

The assessment of the economic situation in Germany also deteriorated, with the corresponding indicator falling three points to -59.5. The situation indicator for the euro zone fell by 2.5 points to -44.4.

Finally, in European company news, Roche announces that the European Commission has granted conditional marketing authorization for Columvi in ​​relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL) after two systemic treatment lines or more.

ArcelorMittal today announces that its XCarb™ Innovation Fund is launching a new program to fund and support start-ups developing India’s most promising industrial decarbonization technologies.

BASF said that its BASF Shanghai Coatings Minhang and Caojing site and its BASF Coatings resin plant, also located in Shanghai, used 100% renewable energy in all of its operations in 2023.

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