KBC Market Research Desk
KBC Bank
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European shares opened lower this morning following the sell‐off in the US yesterday. Currently most European indices trade 0.5% down. US equities opened slightly lower too.
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The European Commission deferred any disciplinary action against Spain and Portugal over their excessive budget deficits until after the Spanish elections, but urged both countries to take further action to reduce their deficits this year and next and said they would review both countries’ positions in early July.
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According to the latest YouGov poll, the campaign to keep Britain in the EU has widened its lead over the “out” camp. 44% wanted Britain to stay in the EU, compared with 40% who wanted the country to leave. Another poll by Ipsos/MORI confirmed the campaign to keep Britain in the EU has taken a 18‐point lead over the out campaign.
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The ECB should not discuss whether more policy action is needed until autumn, ECB’s Vasiliauskas said today, adding that they could buy more asset classes if needed.
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Later today, the Fed will release the minutes of its April FOMC meeting.
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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