KBC Market Research Desk
KBC Bank
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European equity indices lose some ground with Spain (-1%) a notable underperformer on increased tensions in Catalunya (see below). US stock markets open nearly unchanged with investors waiting for the outcome of tonight's FOMC meeting.
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UK retail sales rose in August at their fastest pace in four months (1% M/M), providing further evidence of a tentative pickup in consumer spending. The July figure was upwardly revised from 0.5% M/M to 0.7%M/M. EUR/GBP temporary dropped from 0.888 to 0.883, but sterling couldn't hold on to gains.
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Spain's paramilitary national police have raided the headquarters of the Catalan government in Barcelona in the latest offensive against the proposed referendum on independence, set to be held in less than two weeks' time. They arrested 13 people for their alleged involvement in planning the secession vote.
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NZD/USD jumped towards 0.74 following the release of a new poll showing the governing National Party could rule alone after the country's general election on September 23.
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Greek banks are set to float revised plans to reduce their non-performing loans to their boards early next month, bank sources said, in news that drove down shares in the country's lenders.
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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