The European equity markets are about to finish this August hectic on a negative note, concerned about the uncertainties surrounding monetary policies of the Fed and the ECB, which will make them attentive to many data this week .
While London remains closed doors for the ‘Summer Bank Holiday’, Madrid loses 1.3%, 0.9% Lisbon, Frankfurt, Paris and Amsterdam 0.8%, 0.6% Milan, Brussels 0.3% and Zurich stabilizes. In New York, the Dow Jones and Nasdaq were down 0.9%.
‘Instead of calming the markets, the meeting in Jackson Hole has increased the level of uncertainty, showing no clear direction followed by the Federal Reserve’ says Nour Al-Hammoury among ADS Securities.
According to market strategist based in Abu Dhabi, ‘the employment report scheduled for Friday may reinforce its view that there will be no rate hike in September, especially after the return of PCE price index ‘heart’ to its lowest level since 2011 ‘.
In addition to the jobs report that will mark the high point of the statistical calendar this week, traders will pay attention to the indices in the US ISM and PMI in Europe, as well as meeting Governing Council of the ECB scheduled for Thursday.
‘Investors should especially know how the European central bankers analyze recent events and their impact on the prospects for activity and inflation in the euro zone’, we prevent at Aurel BGC.
For now we note that the annual inflation rate in the euro area remained stable at 0.2% in August and + 1% in data center. Reacting to the figures, Natixis believes that ‘reduces the pressure on the ECB to do more at its meeting’.
The PMI of the Chicago area fell to 54.4 point slightly over the month ending, reflecting a slight slowdown in industrial growth in this region of the United States, while the consensus in the anticipated average steady at 54.7.
A against the current trend in Milan, Eni share 0.9% advance surrounded the aftermath of the announcement of ‘the largest gas discovery ever made in Egypt and Sea Mediterranean ‘, according to the Italian oil company.
Ageas earns 1.2% in Brussels after the Belgian insurer has reported an agreement for the sale of its life insurance business in Hong Kong to JD Capital, for $ 10,688,000 Hong Kong dollars (€ 1,230 million).
Elior is in the top rankings on the Paris SBF 120 with a gain of 1.3%, the title of the catering group enjoying favorable marks from Natixis and Bryan Garnier after its quarterly .
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