KBC Market Research Desk
KBC Bank
European shares ended today their five‐day winning streak in an uneventful session devoid of eco data. The Dax underperforms following a profit warning from Lufthansa. US Equities opened slightly lower too with the S&P trading 0.30% lower at the time of ending the redaction of our report.
The ECB may buy simple and transparent asset‐backed securities to help achieve its target of delivering price stability to the euro zone, ECB’s Mersch said in a speech today, adding that they have to work in tandem with the markets, to see what the market reaction is.
OPEC agreed today to leave in place its production target of 30 million barrels a day for 2014, the Nigerian oil minister said at the end of the organization’s meeting. Brent crude oil prices increased slightly today, hovering around $110/barrel.
The French government presented today its updated budget plans, which included an extra €4 billion in public spending cuts and tax relief, as the country tries to meet its deficit targets set by the EU.
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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GBP/USD retreats to 1.2500 on renewed USD strength
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