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☆ Euro zone recession fears harden
▼ + stars: | 2023-11-06 | by ( Jonathan Cable | ) www.reuters.com time to read: +3 min

LONDON, Nov 6 (Reuters) - The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting there is a growing chance of a recession in the 20-country currency union. The economy contracted 0.1% in the third quarter, official data has shown, and Monday's final Composite Purchasing Managers' Index (PMI) for October indicated the bloc entered the final quarter of 2023 on the back foot. Services activity in Germany, Europe's largest economy, slipped back into contraction in October amid persistent weakness in demand while in France it shrank again. In another bright spot, investor morale in the euro zone rose more than expected at the start of November, with expectations for the future at their rosiest since early this year, Sentix's index showed on Monday. Policymakers there, who have failed to get inflation to target, will likely take some cheer from easing price pressures shown in the PMI survey, as both the input and output prices indexes fell from their September readings.

Persons: Adrian Prettejohn, Jonathan Cable, Hugh Lawson, Toby Chopra Organizations: PMI, P Global, Capital Economics, European Central Bank, Thomson Locations: September's, COVID, Germany, Europe's, France, Spain

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

☆ Eurozone investor mood darkens due to 'problem child' Germany, survey finds
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: +2 min

BERLIN, June 5 (Reuters) - Investors got more gloomy on prospects for the euro zone economy in June, dragged down by negative expectations for Germany, Europe's biggest economy, a survey showed on Monday. "A look at the Sentix data of the largest economy then clearly shows that the cause of the misery in Euroland is probably linked to the weakness of the German economy," it said. "The biggest problem child in the Eurozone remains Germany." The Sentix index for Germany in June fell to the lowest since November last year, at minus 21.1, from minus 14.5 the previous month. "No matter how hard the (German) Federal Minister of Economics tries, the story he is writing is not a positive summer fairytale," the survey said.

Persons: Sentix, Riham Alkousaa, David Holmes Organizations: Analysts, Reuters, Germany, Federal, of Economics, Thomson Locations: BERLIN, Germany, Europe's, Euroland

"Germans are cautious by nature," said Stephan Fetsch, Germany's head of consumer goods at KPMG. Economists polled by Reuters are split on its second quarter fortunes: views ranged from a 0.3% GDP fall to a 0.5% gain, with a median forecast of 0.2% growth. However, German consumer sentiment remains below its pandemic low in the spring of 2020 and the consumer barometer from the German Retail Association (HDE) shows a similar picture. German consumers were hit particularly hard by high energy prices, being more dependent on Russia gas. "The German consumer has reasons to be scared and the result of all the economic uncertainty is usually an increase in precautionary savings," said Michael Burda, economics professor at Humboldt University Berlin.

Persons: Wolfgang Rattay, Germany's, Stephan Fetsch, Holger Schmieding, Carsten Brzeski, KPMG's Fetsch, Joerg Kraemer, Michael Burda, Brzeski, Maria Martinez, Prerana Bhat, Indradip Ghosh, Mark John, Toby Chopra Organizations: REUTERS, KPMG, Reuters, German Retail Association, Berenberg, ING, European Central Bank, Humboldt University Berlin, Thomson Locations: Cologne, Germany, BERLIN, Europe, France, Italy, Russia, Berlin, China, Bengaluru

☆ Euro zone investor morale unexpectedly dips in May
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] A shopper pays with a five Euro bank note to buy eggs at a local market in Nice, France, April 26, 2023. REUTERS/Eric GaillardBERLIN, May 8 (Reuters) - Investor morale in the euro zone took a surprising dip in May, with stubborn inflation and energy concerns upending expectations of a spring recovery, a survey showed on Monday. Sentix's index for the euro zone fell to -13.1 points for May from -8.7 in April. "The economic recovery, which is built on feet of clay, is thus beginning to falter," the survey said. The euro zone economy had been recovering in recent months, driven by robust demand for services, and a host of agencies from the IMF to the ECB have upgraded their forecasts for the bloc.

☆ Morning Bid: Asia stocks bounce as dovish central banks lift the mood
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin Buckland. The local stock price reaction was muted though: Hong Kong's Hang Seng was up 0.9% while mainland benchmarks were flat. Bitcoin, meanwhile, soared as high as $30,438 in Asia for the first time in 10 months, smashing out of recent ranges. Europe returns to trading with very little on the economic calendar aside from euro zone retail sales for February and the Sentix business survey. Reuters Graphics Reuters GraphicsKey developments that could influence markets on Tuesday:Sentix indexEuro zone retail salesFirst Republic financial resultsReporting by Kevin Buckland; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ Euro zone investor morale unexpectedly falls in March
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

BERLIN, March 6 (Reuters) - Investor morale in the euro zone fell unexpectedly in March for the first time since October, dragged down by a decline in expectations as the usual spring revival of the economy is in danger of being short-circuited, a survey showed on Monday. Sentix's index for the euro zone fell to -11.1 points for March from -8.0 in February. Analysts polled by Reuters had expected the index to rise to -6.3 in March. An expectations index, on the other hand, took a nosedive after months of gradual improvement from double-digit lows not seen in year, falling to -13.0 in March from -6.0 in February. "This stagnation phase could soon turn into renewed recession worries if the negative economic expectations materialize," said Sentix Managing Director Manfred Huebner in a statement.

☆ Morning Bid: Hot air
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +3 min

Still, stocks rallied and bond yields fell as markets priced in lower rates. Now, it appears that some of these expectations were a load of hot air. The U.S. jobs data showed the unemployment rate hit more than a 53-1/2-year low of 3.4%. U.S. stock futures traded lower and FTSE futures indicated a weaker start for British stocks (.FTSE), which vaulted to a record high on Friday. European index futures also traded lower.

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