KBC Market Research Desk
KBC Bank
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European shares opened lower and lost further ground during the session following a disappointing outcome of the BOJ meeting. US Equities opened slightly lower too, but losses are contained following a number of better than expected earnings.
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German HICP inflation unexpectedly turned into negative territory in April, falling from 0.1% Y/Y to ‐0.1% Y/Y while a slowdown to zero was expected. Prices of leisure & entertainment led the drop, which was partially offset by higher prices for energy.
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Following three consecutive monthly declines, European Commission’s economic confidence picked up more than expected in April, rising from 103.0 to 103.9 led by improving sentiment in the services sector.
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Belgian economic growth slowed to 0.2% Q/Q in Q1 from an upwardly revised 0.5% Q/Q growth rate during the last three months of 2015. Annually, GDP rose by 1.5% Q/Q, the same pace as in Q4. Tomorrow, the EMU GDP data are expected to show a slight pickup in growth at the start of the year.
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Ford Motor Co announced today its net income more than doubled, while its quarterly operating margin jumped to a record. Excluding one‐time items, earnings per share were 68 cents, easily beating Wall Street expectations.
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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