KBC Market Research Desk
KBC Bank
European shares opened higher this morning copying Wall Street’s gains yesterday and build out their profits during the session. US Equities opened higher too, supported by strong production data.
The UK unemployment rate dropped unexpectedly in the three months to February, from 7.2% to 6.9%, a five year low, but wage growth disappointed, accelerating to only 1.7% Y/Y, below the consensus estimate of 1.8% Y/Y.
French Prime Minister Valls vowed today to honour his European commitments on deficit reduction as he presented the details of the plan to curb public spending by €50 billion between 2015 and the end of Hollande’s term in 2017.
This evening, Fed Chairwoman Yellen will speak to the Economic Club of New York followed by a Q&A session and also Fed’s Lockhart and Fisher will take the stage. The Fed will publish its Beige Book and Google & American Express announce Q1 earnings.
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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