KBC Market Research Desk
KBC Bank
European shares trade sharply lower today with the Dax and Cac 40 losing 2.5%. Political uncertainty in Greece and a sharp drop in German inflation weighs on sentiment. In the US, equities opened significantly lower too, with the S&P down by 1%.
The Brent crude oil price ($54.25/barrel) remained under pressure today, falling below $55/barrel, the lowest level in more than five years on more signs of mounting stock surpluses.
French President Hollande told in an interview today he would do everything possible to make growth as high as possible so they could get more than 1% this year in an effort to reduce record unemployment.
According to first indications, US vehicle sales might fall short of expectations in December. Fiat Chrysler said sales rose 20%, but still missed expectations as did Honda’s sales figures. Results of Nissan narrowly topped expectations.
The number of people unemployed in Spain dropped by 1.4% in December from a month earlier, or by 64 405, data from the Labour Ministry showed today. In 2014, employment rose by 417 574 compared with the previous year, the first annual increase since 2007.
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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