KBC Market Research Desk
KBC Bank
European shares opened lower today as sanctions against Russia weighed on sentiment, but reversed part of their losses during the day, supported by strong US data. US Equities opened higher after Q2 GDP showed a bigger than expected rebound. l
The ECB’s Bank Lending survey showed today that for the first time since 2007, banks eased standards for loans to businesses and also demand for all types of loans to households and businesses continued to rise.
European Commission’s economic confidence improved slightly in July, rising from 102 to 102.2, while a marginal drop was expected. The details showed however a more mixed picture with weakening sentiment in the services sector.
Sweden’s economy grew by 0.2% Q/Q in the second quarter, less than the expected 0.6% Q/Q as demand from abroad remained poor. The Swedish crown weakened significantly today. In Belgium, economic growth slowed to 0.1% Q/Q in Q2, failing to meet market expectations which were looking for a 0.3% Q/Q growth rate.
Later today, the FOMC will announce its policy decisions.
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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