Reply To: Traders Market Weekly: Consumers Along for The Ride


Major European indices trade on a mostly higher note.

STOXX Europe 600: UNCH,
Germany’s DAX: +0.5%,
U.K.’s FTSE 100: +0.4%,
France’s CAC 40: +0.1%,
Spain’s IBEX 35: -1.2%.

Spain’s IBEX (-1.2%) underperforms with BBVA falling more than 6.0% after submitting a hostile takeover bid for Banco Sabadell.
The overall volume is on the light side and Switzerland’s market is closed for Ascension Day.

European Central Bank policymaker Holzmann said that there is no reason to lower rates too quickly while policymaker Wunsch said that there is still a risk in wages and prices of services.

The Bank of England left its bank rate at 5.25%, as expected.
The National Institute of Economic and Social Research expects that the BoE’s initial rate cut will take place in August.