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☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
  + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com   time to read: +2 min
Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.
Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian
☆ Europe's Economic Blahs Drag on With Zero Growth at the End of Last Year
  + stars: | 2024-01-30 | by ( Associated Press | Jan. | At A.M. | ) www.usnews.com   time to read: +4 min
FRANKFURT, Germany (AP) — Europe’s economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, according to figures released Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5%. With higher shipping costs and delays to products from clothes to keyboard components, concerns are growing of new consumer price spikes if the conflict in Gaza drags on or escalates. The trade disruption could add as much as 0.5% to core inflation, which excludes volatile fuel and food prices, Oxford Economics said.
Persons: ”, Holger Schmieding, Yemen's Houthi Organizations: EU, Eurostat, European Central Bank, Oxford Economics, ECB, Hamas, Oxford Locations: FRANKFURT, Germany, Suez, Asia, Europe, Berenberg, United States, Russia, Ukraine, Red, Africa, Gaza
☆ These European stocks are likely to outperform once rate cuts begin, BofA says
  + stars: | 2024-01-12 | by ( Weizhen Tan | ) www.cnbc.com   time to read: +1 min
Investors are eagerly looking forward to rate cuts this year — the U.S. Federal Reserve signaled at least three, which would end an aggressive interest rate-hiking campaign for the last couple of years. The question is when the first of the rate cuts will come. Investors should, however, take note that the Fed also indicated an "unusually elevated degree of uncertainty" about the policy direction. Still, against that backdrop of expected cuts, BofA created a screen of which global companies might outperform as rates fall, and have "not yet rallied as strongly" as the average historical performance following the initial cut of the cycles. BofA screened for companies under scenarios such as whether the Fed cuts at a faster or slower pace than the European Central Bank — and vice versa.
Persons: BofA, — CNBC's Michael Bloom Organizations: U.S . Federal, Federal, Market, European Central Bank — Locations: U.S, Europe
☆ Europe stocks open higher, head for best week since March after central bank pauses
  + stars: | 2023-11-03 | by ( Jenni Reid | ) www.cnbc.com   time to read: +1 min
The Stoxx 600 opened 0.3% higher led by autos stocks, up 1.1%. The index gained 1.6% on Thursday, and is heading for its best week-on-week performance since the end of March, according to LSEG data. European stock markets opened higher on Friday, rounding off a weekly rally powered by a series of solid earnings and a perceived dovish tilt by central banks. The Bank of England held rates for a second consecutive meeting. Like Christine Lagarde, president of the European Central Bank — which last week also held rates steady — he said it was too early to talk about rate cuts and that risks to inflation remain.
Persons: BOE Governor Andrew Bailey, Christine Lagarde Organizations: Federal Reserve, Bank of, CNBC, European Central Bank Locations: U.S, Bank of England
☆ European stocks open lower as earnings roll in; Standard Chartered plunges 10%; ECB set to hold rates
  + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com   time to read: +1 min
Auto stocks plunged 3.45% as results disappointed, while travel stocks traded 1.7% lower. European stock markets opened sharply lower Thursday as attention remains on third-quarter earnings and government bond yields. Results are out from a slew of companies including Standard Chartered, BNP Paribas, TotalEnergies, Volvo Cars, Novozymes, Volkswagen, Carrefour, Saab and Wacker Chemie. Meanwhile, monetary policy decisions are due from the European Central Bank — for which markets have priced in a more than 98% likelihood of a hold in interest rates — and the central bank of Turkey, from which economists polled by Reuters anticipate a 500 basis point hike to 35%. The benchmark 10-year Japanese government bond yield hit a fresh 10-year high ahead of a central bank meeting next week, according to Reuters data.
Organizations: Chartered, Standard Chartered, BNP, TotalEnergies, Volvo, Volkswagen, Carrefour, Saab, Wacker Chemie, Investors, Facebook, Meta, European Central Bank —, Reuters, Treasury Locations: London, Turkey, Asia, Pacific
☆ Oil and food prices are rising, and so are wages. Inflation isn’t beaten yet
  + stars: | 2023-08-08 | by ( Anna Cooban | ) edition.cnn.com   time to read: +8 min
Oil and food prices have jumped in recent weeks, and wages are still growing strongly in some of the world’s biggest economies. The UN global Food Price Index rose in July, notching only the second monthly increase in a year of steady declines. Oil supply cutsGlobal oil prices have shot up in recent weeks. The International Energy Agency has forecast that global oil demand will rise to a record 102 million barrels this year. Rising oil prices have spurred a jump in US gasoline prices, which hit an average of $3.82 a gallon Tuesday.
Persons: ” Randall Kroszner, “, Price, Chris Ratcliffe, Richard Bronze, ”, —, unraveled, ” Kroszner, — “, Michelle Bowman Organizations: London CNN, US Federal Reserve, European Central Bank, US Federal Reserve System, University of Chicago Booth School of Business, CNN, UN, Bloomberg, Getty, West Texas Intermediate, International Energy Agency, OPEC, Agriculture Organization, United Nations, Capital Economics, “ Labor, Bank Locations: Ukraine, United States, United Kingdom, Brent, Saudi Arabia, Russia, Moscow
☆ Euro zone inflation hits record high of 10.7% as growth slows sharply
  + stars: | 2022-10-31 | by ( Silvia Amaro | ) www.cnbc.com   time to read: +2 min
Inflation in the euro zone remains extremely high. Euro zone inflation rose above the 10% level in the month of October, highlighting the severity of the cost-of-living crisis in the region and adding more pressure on the European Central Bank. Preliminary data on Monday from Europe's statistics office showed headline inflation came in at an annual 10.7% last month. Speaking at a subsequent press conference, ECB President Christine Lagarde said the likelihood of a recession in the euro zone had intensified. The currency has been weaker against the greenback and that's also something the ECB has been concerned about with concerns that this will push up inflation in the euro zone even further.
☆ UBS: Buy these 23 high-quality stocks that are poised to outperform as a volatile market sends the Eurozone barreling towards a recession
  + stars: | 2022-09-28 | by ( Lisa Kailai Han | ) www.businessinsider.com   time to read: +3 min
Raging inflation, rate hikes, and an energy crisis have tumbled European stocks recently. UBS shared 23 high-quality stocks to buy to help investors navigate increasing volatility and risk. "Inflation risks remain skewed to the upside, in our view," wrote a team of UBS strategists in a report published earlier this month. 23 high-quality stocks to weather the stormBut just because there's storms ahead for the European stock market doesn't mean that investors must stay away entirely. The full list of UBS's top 23 high-quality European stock picks is below, along with each firm's ticker, key themes and drivers, and catalysts.
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