KBC Market Research Desk
KBC Bank
European equity markets trade around 0.5% lower. Weak Amazon results, a huge BASF profit warning, a NY Ebola case and weak Chinese property prices set the stage for risk off sentiment from the start of trading. US equities open slightly higher.
Britain's rapid economic recovery eased in the three months to September, as services output growth slowed and manufacturing expanded at the weakest pace in 18 months, official data showed on Friday. Gross domestic product expanded by 0.7 percent in the third quarter, compared with 0.9 percent the quarter before, in line with forecasts
According to preliminary data seen by Bloomberg, 10 banks are said to be in talks on capital shortfall. The official results will be published on Sunday noon.
Belgian business confidence unexpectedly improved in October, suggesting the better EMU PMI business sentiment was no co‐incidence. The NBB confidence indicator rose to ‐6.8 from ‐7.2 in September defying expectation for a deterioration to ‐7.9. .
Amazon.com’s soaring ambitions are coming at a steep cost, dragging the e‐commerce giant to its largest quarterly loss in 14 years.
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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