Reply To: Traders Market Weekly: Avoid Whiplash, Fasten Your Seatbelts

#74102
Truman
Participant

Major European markets trade on a modestly higher note.
STOXX Europe 600: +0.1%,
Germany’s DAX: +0.2%,
U.K.’s FTSE 100: +0.4%,
France’s CAC 40: -0.6%,
Italy’s FTSE MIB: +0.2%,
Spain’s IBEX 35: +0.4%.
France’s CAC (-0.6%) lags with Stellantis (-3.6%) seeing a continuation of its post-earnings weakness.
Shell beat Q1 expectations and announced a $3.5 bln buyback

PMI
Eurozone’s final April Manufacturing PMI 45.7 (expected 45.6; last 46.1)
Germany’s final April Manufacturing PMI 42.5 (expected 42.2; last 41.9)
France’s final April Manufacturing PMI 45.3 (expected 44.9; last 46.2)
Italy’s final April Manufacturing PMI 47.3 (expected 50.3; last 50.4). March PPI -0.2% m/m (last -1.0%); -9.6% yr/yr (last -10.8%)
Spain’s final April Manufacturing PMI 52.2 (expected 51.3; last 51.4)
Swiss April procure.ch PMI 41.4 (expected 45.5; last 45.2) March Retail Sales -0.1% yr/yr (expected 0.2%; last 0.2%). April CPI 0.3% m/m (expected 0.1%; last 0.0%); 1.4% yr/yr (expected 1.1%; last 1.0%).

European Central Bank policymaker De Cos said that inflation is expected to reach the 2.0% target in 2025 after fluctuating for the remainder of this year.
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