Inflation continues to run rampant throughout the world. Energy and food pricing pressures continue to elevate around the world. The effect is showing some variance by location. Germany’s consumer inflation for June slowed more than expected to 7.6% from 7.9% in May which was the highest reading since German reunification. Figures compare with market forecasts of 8%. Spain however saw annual inflation jump to 10.2% in June of 2022 from 8.7% in May, much higher than market forecasts of 9% … Continue reading “German Inflation Pace Slows While Spanish Inflation Soars Past 10% in June”
Eurozone May CPI numbers came in much higher than expectations released Tuesday confirming the soaring German and Spanish inflation reports released the day prior. Energy and food pricing pressures continue to elevate around the world. Eurozone May preliminary CPI +8.1% was versus +7.7% y/y expected. Core CPI +3.8% was higher also +3.5% y/y expected. Germany’s consumer inflation for May was 8.7% from a year ago and the highest reading since German reunification. Analysts predicted 8.1%. advance. Spain’s May CPI also … Continue reading “Eurozone Inflation Accelerates in May to New Records, Follows German and Spanish CPI”
Energy and food pricing pressures continue to elevate around the world. Germany’s consumer inflation for May was 8.7% from a year ago and the highest reading since German reunification. Analysts predicted 8.1%. advance. We already know people’s sentiment continues to suffer; GfK Consumer Climate Indicator for Germany edged up to -26 heading into June of 2022 from a record low of -26.6 in May. Spain’s May CPI also soared to +8.7% y/y vs +8.3% expected. The ECB meet in 10 … Continue reading “German and Spanish Inflation Soar to Records with Consumer Sentiment at All Time Lows Ahead of ECB Meeting”
The Spanish Blue-Chip IBEX 35 closed 0.46% higher at 8,713.80 on the final trading day of 2021 and up 7.9% in 2021. The market recovered from being down 15.5% in 2020 when it was its worst year since 2010. Spain’s index is well off the multi-year low of 5,815 on March 16th, 2020, as coronavirus fears and lockdown measures hit a crescendo. Germany, Spain and Italy were among the major European bourses closed for the New Year’s Eve holiday The … Continue reading “Spain’s IBEX Worse Performing European Stock Market in 2021, Finished Up 7.9%”
The Spanish Blue Chip IBEX 35 closed 1% lower at 8,074 on the final trading day of 2020, down 15.5% for the year and the weakest stock index in Europe for the year in its worst year since 2010. Spain’s index bounced off the multi-year low of 5,815 on March 16th as coronavirus fears and lockdown measures hit a crescendo.
Spain is holding it’s fourth parliamentary election in four years and two in six month in an attempt to break a political stalemate. However Spanish voters are likely to return an an even more fragmented parliament.
The European services sector strength contrasts with weak manufacturing conditions. Growth was led by Germany and Spain. Suggesting that the domestic economies aren’t as burdened by the global trade war and Brexit drama. Resilient rate of growth that has lost some momentum.
European manufacturing PMIs were mostly soft as the global trade war and Brexit drama weighed. Germany and Italy were notable contributors to the stronger decline. Netherlands and Spain the only two over 50.0
Spanish PM Pedro Sanchez has called a cabinet meeting with a snap election after his budget was rejected in a 191-158 vote. The election will be held in April or May with Sancez’s Socialist Party leading in the polls after Catalan parties withdrew support.
The Turkish crisis escalated over the past week and has sent flight risk contagion ripples through emerging markets. The fallout extends to those that are Turkey’s biggest lenders. There are five banks most exposed with Spains BBVA the most at risk