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European Equities: Economic Data from China, the Eurozone, and the U.S in Focus
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It's a busier day ahead, with economic data from the Eurozone and the U.S to provide the majors with direction. Ahead of the European open, economic data from China will set the tone.
In this article:
Economic Calendar
Wednesday, 15th September
French CPI (MoM) (Aug) Final
French HICP (MoM) (Aug) Final
Italian CPI (MoM) (Aug) Final
Eurozone Wages in euro zone (YoY) (Q2)
Eurozone Industrial Production (MoM) (Jul)
Thursday, 16th September
Eurozone Trade Balance (Jul)
Friday, 17th September
Eurozone Core CPI (YoY) (Aug) Final
Eurozone CPI (MoM) (Aug) Final
Eurozone CPI (YoY) (Aug) Fina
The Majors
It was a mixed day for the European majors on Tuesday.
The CAC40 and the EuroStoxx600 fell by 0.36% and by 0.01% respectively, while the DAX30 ended the day up by 0.14%.
With economic data from the Eurozone limited to inflation figures from Spain, economic data from the U.S was key on the day,
Softer inflation figures from the U.S did little to shift sentiment towards FED monetary policy, with concerns over economic growth also pegging the majors back.
The Stats
Finalized inflation figures from Spain were in focus on Tuesday.
In August, the annual rate of inflation accelerated from 2.9% to 3.3%, which was in line with prelim figures.
The numbers had a muted impact on the European majors, however.
From the U.S
In August, the annual rate of core inflation softened from 4.3% to 4.0%. Economists had forecast an annual core rate of inflation of 4.2%.
Month-on-month, core consumer prices rose by 0.1%, while consumer prices increased by 0.3%.
The Market Movers
For the DAX: It was a bullish day for the auto sector on Tuesday. Daimler gained 0.97%, with BMW and Continental rising by 0.66% and by 0.55% respectively. Volkswagen ended the day up by a modest 0.27%.
It was a bearish day for the banks, however. Deutsche Bank and Commerzbank fell by 0.77% and by 1.91% respectively.
From the CAC, it was a bearish day for the banks. Soc Gen and Credit Agricole ended the day down by 1.83% and by 2.54% respectively. BNP Paribas saw a more modest 1.17% loss on the day.
It was a mixed day for the French auto sector, however. Stellantis NV rose by 0.74%, while Renault fell by 0.63%.
Air France-KLM and Airbus SE ended the day down by 1.93% and by 2.02% respectively.
On the VIX Index
It was back into the green for the VIX on Tuesday, marking a 3rd day in the green from 4 sessions.
Partially reversing a 7.54% fall from Monday, the VIX rose by 0.46% to end the day at 19.46.
On Tuesday, the NASDAQ slipped by 0.45%, with the Dow and S&P500 ending the day down by 0.84% and by 0.57% respectively.
The Day Ahead
It’s a busier day ahead on the Eurozone’s economic calendar.
Wage growth and industrial production figures for the Eurozone will be key stats on the day. Expect the industrial production figures to have a greater impact on the majors, however.
Finalized inflation figures for France and Italy are also due out but should have a muted impact on the majors.
From the U.S, NY Empire State Manufacturing and industrial production figures will also influence later in the day.
Ahead of the European open, however, economic data from China will set the tone.
Key stats include fixed asset investments and industrial production figures for August, with both needing to see a pickup to ease growth concerns.
The Futures
In the futures markets, at the time of writing, the Dow Mini was up by 7 points.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Bob Masonauthor
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.
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