KBC Market Research Desk
KBC Bank
European equities continued to trade volatile today. European shares opened higher this morning, but failed initially to safeguard their gains, but are now about 0.4‐0.6% higher. US Equities opened higher too and are still slightly higher.
A Greece Finance Ministry delegation will fly to Brussels this evening to deliver a list of reform commitments, a Greek government official said today. The EU and IMF will start discussion on the list today.
The final reading of March US University of Michigan consumer confidence showed an upward revision from 91.2 to 93.0, but still down from 95.4 in February. Consumers were more optimistic on both current economic conditions and expectations. The outcome was also above the market consensus of 92.0.
Spain’s budget deficit narrowed significantly last year, the government said today, as budget cuts and economic growth helped to bring the deficit down in line with the targets agreed with the European Commission. The deficit shrank to 5.7% of GDP in 2014, down from 7% in 2013.
Late in the US session, Fed Chairwoman Yellen will speak on monetary policy in San Francisco, followed by a Q&A session.
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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