European Equities: Economic Data from the U.S in Focus Late in the Day…Another quiet day ahead on the Eurozone economic calendar leaves the majors in the hands of inflation figures from the U.S late in the session.
Tuesday, 14th September
Spanish CPI (YoY) (Aug) Final
Spanish HICP (YoY) (Aug) Final
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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
It was a relatively bullish start to the week for the European majors on Monday.
The CAC40 and the EuroStoxx600 rose by 0.20% and 0.29% respectively, with the DAX30 ending the day up by 0.59%.
A particularly light economic calendar allowed the European markets to claw back some of the previous week’s losses.
Concerns over the economic recovery and outlook remained, however, pegging the majors back from more material gains.
There were no major stats from the Eurozone to provide the majors with direction.
From the U.S
There were also no major stats from the U.S to influence the European majors later in the day.
The Market Movers
For the DAX: It was a bullish day for the auto sector on Monday. Volkswagen rose by a modest 0.97% on the day. Daimler rallied by 3.71%, however, with BMW and Continental seeing gains of 3.39% and 3.35% respectively.
It was also a bullish day for the banks. Deutsche Bank and Commerzbank rose by 1.63% and by 1.35% respectively.
From the CAC, it was a bullish day for the banks. Soc Gen and Credit Agricole ended the day up by 1.17% and by 1.29% respectively. BNP Paribas led the way, however, rallying by 2.27%.
It was also a bullish day for the French auto sector. Stellantis NV rose by 1.23%, with Renault rallying by 2.61%.
Air France-KLM ended the day up by 2.21%, with Airbus SE rising by 0.63%.
On the VIX Index
It was back into the red for the VIX on Monday, ending a 2-day winning streak.
Partially reversing an 11.44% jump on Friday, the VIX fell by 7.54% to end the day at 19.37.
On Monday, the NASDAQ slipped by 0.07%, while the Dow and S&P500 ended the day up by 0.76% and by 0.23% respectively.
The Day Ahead
It’s a quiet day ahead on the Eurozone’s economic calendar.
Finalized Spanish inflation figures for August will be in focus early in the European session. We don’t expect the numbers to trouble the European majors, however.
From the U.S, inflation figures for August will draw plenty of interest and influence, however. With the FED viewing the spike in inflation as transitory, another jump in inflation would question the policy outlook.
In the futures markets, at the time of writing, the Dow Mini was up by 72 points.
For a look at all of today’s economic events, check out our economic calendar.