KBC Market Research Desk
KBC Bank
European shares rebounded today, copying Wall Street’s gains late yesterday. Most European indices trade 0.5% to 1% higher. US Equities opened slightly higher too ahead of the FOMC decisions later today.
European shares Excluding undecided voters, 52% of the questioned said they would vote “no”, while 48% were in favour of independence.
The US NAHB housing market indicator surprised on the upside of expectations, rising from 55 to 59, its highest level since 2005. Homebuilders were more optimistic on both present and future sales, while also buyers traffic picked up.
The Minutes of the September Bank of England MPC meeting showed that for a second straight month, Mr. Weale & McCafferty voted for an immediate increase in the bank rate, but failed to attract additional support. Overall however the tone of the Minutes was soft with the majority expecting growth to slow in Q4.
At 8 CET this evening, the FOMC will announce its interest rate decision, which will be followed by the press conference of Fed Chairwoman Yellen 30 minutes later.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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