KBC Market Research Desk
KBC Bank
European shares show little momentum today and hover broadly sideways. Higher than expected inflation data had no impact on markets. In the US, Equities open slightly lower following mixed economic data.
The extension of Greece’s bailout package with four months passed the German Bundestag with a comfortable majority, but there was substantial rebellion within Merkel’s CDU party and sister party the Christian Social Union.
The Latvian army said in a message on Twitter today NATO dispatched Typhoon jets to track Russian IL‐20 today.
In February, the US Chicago PMI plunged to its lowest level since 2009, falling from 59.4 to 45.8, while only a marginal drop was expected. The sharp drop might have been due to harsh weather conditions all over the region.
The final reading of US University of Michigan consumer confidence for February showed a substantial upward revision, from 94.0 to 95.4. Consumer confidence is however still down from its multi‐year high of 98.1 in January.
Later today, several Fed speakers are still on the agenda with heavy‐weights Fischer and Dudley scheduled to speak.
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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