KBC Market Research Desk
KBC Bank
European shares post losses of around 1%. Negative headlines on Russia and US mortgage giants Freddie Mac and Fannie Mae weigh on sentiment. US equities are in the red as well because of the latter and a disappointing US manufacturing ISM.
A US District Court dismissed a lawsuit filed over the government bailout terms for US mortgage finance giants Fannie Mae and Freddie Mac. Both of them see their share price tumbling more than 50%.
David Cameron has promised sweeping tax cuts for low and middle earners if he wins the next UK election, as he seeks to position the Conservatives as the party best placed to improve voters' living standards.
The US Manufacturing sector cooled in September following the strongest rate of growth in three years as US factories settled into a more sustainable expansion that will spur the economy. The ISM index dropped from 59 to 56.6.
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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