Reply To: Traders Market Weekly: A Magical Green First Quarter for Stocks

#73592
Truman
Participant

Major European indices trade on a mostly higher note.

STOXX Europe 600: +0.1%,
Germany’s DAX: +0.1%,
U.K.’s FTSE 100: +0.4%,
France’s CAC 40: +0.1%,
Italy’s FTSE MIB: UNCH,
Spain’s IBEX 35: +0.6%.

Italy’s MIB (UNCH) lags amid weakness in financials.

Final Services PMI readings for March were mostly better than expected with Germany’s reading (50.1) returning to expansion.

Eurozone
March Services PMI 51.5 (expected 51.1; last 50.2).
February PPI -1.0% m/m (expected -0.6%; last -0.9%); -8.3% yr/yr (expected -8.6%; last -8.0%)

Germany
March Services PMI 50.1 (expected 49.8; last 46.3)

U.K.
March Services PMI 53.1 (expected 53.4; last 53.8)
A Bank of England survey showed that price hike plans among companies are at their lowest level in more than two years.

France
March Services PMI 48.3 (expected 47.8; last 48.4)

Italy
March Services PMI 54.6 (expected 53.0; last 52.2)

Spain
March PMI 56.1 (expected 55.5; last 54.7)

Swiss
March CPI 0.0% m/m (expected 0.3%; last 0.6%); 1.0% yr/yr (expected 1.3%; last 1.2%)
There is growing speculation that the Swiss National Bank will announce a rate cut after CPI growth decelerated to 1.0%, the slowest pace of growth since late 2022.