(News Bulletin 247) – While London gained 1.3% thanks to a catch-up effect, continental markets posted more modest gains (+0.3% in Frankfurt, +0.2% in Paris) the day after the a first session of the week on top speed.
‘As the UK returns from a long weekend, it is clear that markets have taken last week’s speeches at Jackson Hole with some relief,’ Deutsche Bank notes, pointing in particular to a relaxation on 10-year rates in the United States.
‘Whether we will have more rate hikes will be partly determined by the data of the week’, warns the German bank, which thus highlights the report on employment in the United States and the flash estimate inflation in the euro zone for August.
Anticipating annual inflation rates of 5.5% in raw data and 5.4% in underlying, more than double the ECB’s 2% target, Deutsche Bank is still expecting pressure for new interest rate hikes.
In the meantime, it should be noted that the confidence of German households has deteriorated over the month which is ending, according to the survey by the GfK institute, while that of French households has remained stable, according to the synthetic indicator from INSEE.
On the values ​​front, HSBC gleans less than 1% and therefore underperforms the trend in London, hampered by a downgrading of the recommendation from ‘buy’ to ‘neutral’ on the title of the banking establishment, with a price target lowered.
Solvay takes around 2% in Brussels and Paris, the Belgian chemist having unveiled Monday evening the first half results of the two entities that compose it before the implementation of its split project, planned by the end of the year. year.
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.
