European Equities: German and Eurozone ZEW Economic Sentiment Figures in Focus
Tuesday, 18th January
German ZEW Current Conditions (Jan)
German ZEW Economic Sentiment (Jan)
Eurozone ZEW Economic Sentiment (Jan)
Wednesday, 19th January
German CPI (MoM) (Dec) Final
Thursday, 20th January
German PPI (MoM) (Dec)
Eurozone Core CPI (YoY) (Dec) Final
Eurozone CPI (YoY) (Dec) Final
Eurozone CPI (MoM) (Dec) Final
It was a bullish start to the week for the European majors on Monday. The DAX rose by 0.32%, with the CAC40 and the EuroStoxx600 ending the day with gains of 0.82% and by 0.70% respectively.
Economic data was on the lighter side, with stats from the Eurozone having a muted impact on the majors.
Economic data from China delivered support on the day, with better-than-expected GDP numbers key. In the 4th quarter, the Chinese economy grew by 1.6% quarter-on-quarter versus a forecasted 1.1%. The economy had expanded by 0.2% in the previous quarter. Year-on-year, the economy grew by 4.9% versus a forecasted 4.8.%. In the 3rd quarter, the economy had expanded by 5.2% year-on-year.
Industrial production was also on the rise. Year-on-year, industrial production was up by 4.3% in December versus a forecasted 3.6%. Production had risen by 3.8% in November.
In Italy, consumer prices rose by 0.4% in December, which was in line with prelim figures. Consumer prices had risen by 0.6% in the month of November.
From the U.S
There were no major stats to provide direction late in the session, with the U.S markets closed.
The Market Movers
For the DAX: It was a mixed day for the auto sector on Monday. Continental rose by 0.59% to buck the trend. Daimler fell by 0.71%, with BMW and Volkswagen ending the day down by 0.30% and by 0.27% respectively.
It was also a mixed day for the banks, however. Deutsche Bank rose by 0.54%, while Commerzbank ended the day flat.
From the CAC, it was a mixed day for the banks. Soc Gen rose by 0.35%, while Credit Agricole and BNP Paribas saw losses of 0.36% and 0.38% respectively.
The French auto sector had a bullish session. Stellantis NV and Renault ended the day with gains of 0.87% and 1.48% respectively.
Air France-KLM rose by 0.60%, while Airbus SE fell by 0.49%.
On the VIX Index
The U.S markets were closed on Monday.
The Day Ahead
It’s a busier day ahead on the Eurozone’s economic calendar. ZEW Economic Sentiment figures for Germany and the Eurozone will be in focus early in the European session. With little else for the markets to consider, expect the numbers to influence.
From the U.S, NY Empire State Manufacturing numbers are due out. We don’t expect the stats to have an impact on the European majors.
Following Monday’s U.S holidays, expect the U.S majors to influence the European majors later in the session.
In the futures markets, at the time of writing, the Dow Mini was up by 12 points.
For a look at all of today’s economic events, check out our economic calendar.