KBC Market Research Desk
KBC Bank
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European shares opened lower this morning, but reversed their gains supported by better than expected PMI data. Currently, most European shares trade little changed. US Equities opened flat despite better than expected earnings from GE and Honeywell.
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The ECB will signal the future path of its quantitative easing programme in the fourth quarter, ECB's Nowotny said, suggesting a decision is unlikely at the September meeting.
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The euro zone's public finances have improved to their best level since the debt crisis with the overall government deficit dropping to 1.6% in the first quarter from 2.3% at the end of last year. Total government debt however inched up to 91.7% of GDP from 90.7% at the end of 2015.
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France's top court has ruled today that IMF chief Christine Lagarde must stand trial in France over a 2008 arbitration ruling that handed 400 million euros to a politically‐connected business magnate.
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Brent crude oil prices remain under pressure today, hovering around $46/barrel and testing key support levels around $45;90/barrel. The WTI remains under pressure too, trading at its lowest level in more than two months ($44.50/barrel).
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During the weekend, G20 Finance Ministers and Central bankers meet in China.
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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