Europe: stock markets reject PMI indices – 08/03/2022 at 11:56
(CercleFinance.com) – A good decision is present in the European markets (stabilization in London, but + 0.2% in Frankfurt and Paris), thus showing resistance to the publication of PMI indices that are decreasing in the region.
The euro zone stood at 49.9 last month, against 52 in June, showing the first decline in local activity since February 2021 with a slowdown in manufacturing and another slowdown in job growth.
“Many companies are also worried about the risk of a lack of energy, which could lead to additional pressures and raise prices, thus hampering economic activity,” warned S&P Global.
Likewise, UK industrial expansion slowed in July, according to the local PMI group which fell to a 17-month low of 52.1, down from 53.7 in June, pointing to sluggish domestic and foreign demand.
In a very encouraging sign, Germany returned to trade surplus in June of 6.4 billion euros, after suffering from 0.8 billion last month, thanks to a 4.5% recovery in German exports. .
In the price news, in Frankfurt, the workers accept the results of BMW (-5%) and Siemens Healthineers (-5%), but welcome those of Infineon (+2%), Commerzbank (+2%). and Hugo Boss (+3%).
On the Paris Stock Exchange, they receive the annual publications of the bank Societe Generale (+4%) and the insurance company AXA (+5%), in contrast to the public works group Veolia (- 3%).