Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
Disappointing German retail sales figures, released before the markets opened today, had given everyone a heads up, that the mid-morning eurozone inflation figures might undershoot markets expectations; and this is how it has transpired. Mario Draghi and his colleagues will be disappointed that the increased money supply floating around Europe has not encouraged more spending by the increasingly docile retail shopper.
Banks have been one of the most important driving factors in the index accounting for 26% of the weighting, and with a decision on the amount BNP Paribas will be fined by US regulators expected today this looks likely to continue steering the EU Stocks 50. The likely severity of this fine has caused much debate, and European banks will be monitoring it with an eye on their own possible liabilities.
Today’s price movements have seen the index break below the 50-day moving average however, aided by US economic data it has jumped back above.
This week is packed with economic data releases and it is possible that tomorrow’s European manufacturing purchasing managers index figures can offer a tangible reason for a bounce. For the time being the 50-DMA appears to be offering some support, but a close below that might change our stance.