(News Bulletin 247) – European stock markets are posting more or less pronounced gains (+0.1% in London, +0.6% in Frankfurt, +1% in Paris), pending the publication of the monthly report on inflation in the United States, the major statistic of the week.
Consumer prices in the United States for July, to be published at the start of the afternoon, will be all the more closely followed as the figures for June, which were much lower than expected, had removed the prospect of further rate hikes from the Federal Reserve.
A further slowdown in prices could complicate the task of the Fed, which has recently signaled its intention to continue raising rates. For the time being, however, Barclays expects an increase of 0.2 points in the annual inflation rate in July, to 3.2%.
“The recent downward trend in the annual inflation rate is likely to pause and even potentially reverse in the coming months, as favorable base effects will no longer be taken into account,” warns the British bank.
Pending this meeting, the attention of investors is focused on the many corporate publications of the morning, thus cheering an increase in annual forecasts at ThyssenKrupp (+4% in Frankfurt).
Still among the German publications – particularly supplied this morning – the operators also welcome those of Allianz (+3%) and Munich Re (+2%), but heavily sanction that of Siemens (-5%).
On the other European markets, a warm welcome is reserved for the results of the Norwegian oil and gas company Equinor (+5% on the OMX), unlike those of the bank-insurer KBC (-5% in Brussels).
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