European Market

Pay growth continued to decelerate, but the data were higher than expected and the index is pressured, as markets brace for Wednesday’s inflation update

The French index rises after Ms Lagarde stood by recent comments for summer rate cuts, while luxury giant LVMH posted strong 2023 results

The German index is subdued as markets digest today’s data showing the economy shrunk last year, but prospects of an ECB pivot are supportive

The UK index rebounds from critical support today, as data showed GDP growth of 0.3% in November, but improving economic conditions could prolong the central banks restrictive stance

The index maintains its upside bias as today’s data showed another moderation in wage growth, but looks to Thursday’s policy decision by the central bank of England

In the first half of November, the GER30’s RSI broke above the green downsloping green trendline at 1. This suggested that positive momentum was expanding. This was confirmed by the index crossing above its black 30-week EMA and the EMA’s direction shifting upwards at 2. These are regarded as positive developments and the longer that the weekly RSI maintains above 50, the greater the underlying momentum support for the GER30.…

The index is cautious after the UK Chancellor’s “Autumn Statement for Growth”, which could make the BoE’s struggle to control inflation harder

The British high-end fashion designer reported underwhelming H1 FY24 results on Thursday and warned it could miss its full year revenue guidance, amidst a decline in luxury spending

The German index has staged a solid recovery after the ECB’s rate pause, testing critical resistances, amidst prospects of further economic pain

The Italian sports car maker reported another blockbuster quarter during which shipments of hybrid cars surpassed those of petrol engine models for the first time, as it moves towards the 2025 launch of purely electric vehicle

Ryanair saw profits up 59% y/y in H1 FY224 as higher fares offset increased fueled costs and expects record full year profit, while announcing ordinary dividend