KBC Market Research Desk
KBC Bank
In the absence of eco data or other news items, European shares traded volatile today. The Dax rose temporary above the 10 000 level, but dropped lower afterwards. With exception of the Dax, most European indices trade in positive territory. In the US, equities opened higher too boosted by a pair of M&A deals.
Greece is ready to accept a precautionary credit line from the IMF as it exits its bailout programme next year, the FT reports on its website. The credit line will provide a fiscal backstop in case market access is lost. The Greek 10yr yield dropped further today.
The number of people unemployed in Spain dropped by 14 700 in November, its first monthly decline in four months, while the consensus was looking for a further increase.
General Motors and Fiat‐Chrysler sales exceeded expectations in November as Black Friday specials attracted a flood of consumers. Fiat Chrysler sales rose 20% while GM said it was the industry’s best November in 11 years. Later today, the full US domestic vehicle sales data will be published.
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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