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European shares opened higher this morning and broadened their gains during the session. US Equities opened little changed.
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UK mortgage approvals fell to an 18‐month low of 60 900 in the first full month after the Brexit vote. Consumer credit slowed too suggesting weaker demand for big‐ticket items such as vehicles.
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European Commission's economic confidence dropped from 104.5 to 103.5 in August, below the market consensus of 104.1. Weakness was broad‐based across sectors with only a small improvement in construction.
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EU antitrust regulators ordered Apple to pay up to €13 billion in taxes to the Irish government after ruling that a special scheme to route profits through Ireland was illegal state aid.
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According to sources, French Economy Minister Emmanuel Macron is set to resign, taking him a big step closer to launching a run for the presidency next year.
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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