(News Bulletin 247) – European stock markets climbed timidly into the green at the end of the morning (+0.2% in London, +0.1% in Frankfurt, +0.4% in Paris), after an early session in the red in the wake of a sharply negative closing on Wall Street the day before.
“The ideal scenario of a soft landing for the US economy leaves room for doubt, as the market now believes that the Fed could carry out further monetary tightening by the end of the year,” Kiplink points out.
The latter also points out that ‘Apple suppliers are under pressure following information from the Wall Street Journal that Beijing is considering banning the use of the iPhone in government agencies’.
Thus, the semiconductor manufacturers STMicroelectronics (-2% in Paris and Milan) and Infineon (-2% in Frankfurt), or the equipment supplier for the ASML sector (-2% in Amsterdam) suffer from this prospect on the European markets. .
On the macroeconomic front, the GDP adjusted for seasonal variations finally increased by only 0.1% in the euro zone in the second quarter compared to the previous one, according to Eurostat which had previously announced a growth of 0.3%.
In addition, after a drop of 1.4% in June compared to the previous month, German industrial production in volume fell by 0.8% in July, including a fall of 1.8% for manufacturing production proper. .
“We expect production to continue to fall for the rest of the year and contribute to Germany falling back into recession”, reacts Capital Economics, which points to high interest rates and weak demand .
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