Stock indices of Western Europe showed weak and multidirectional changes following the trading results. Investors were evaluating another portion of the statistics.
The estimate of the eurozone GDP decline in the first quarter was revised to 0.3% from 1.6%.
Analysts did not expect a revision of the indicator, according to data from Trading Economics. Meanwhile, the number of employed in the region in January-March decreased by 0.3% compared to the previous quarter.
Industrial production in Germany fell 1% in April from the previous month, according to data from the country’s Federal Statistical Office.
At the same time, analysts expected an average growth of 0.5%, Trading Economics reports.
On an annualized basis, industrial production jumped 26.4% in April after rising 4.8% in March, while the World Bank improved its forecast for global GDP growth this year.
According to the June Global Economic Prospects (GEP) survey, global GDP will increase by 5.6% in 2021.
This is the highest post-recessionary growth rate in 80 years. In the January GEP, the WB forecasted global economic growth of 4% this year.
Also in the spotlight of the markets this week is the May data on changes in consumer prices in the United States, which will be released on Thursday.
The consensus forecast of experts surveyed by Trading Economics envisages acceleration of inflation in the US in May to 4.7%.
In April, consumer prices rose 4.2%, at the fastest rate in 12 years.
If prices continue to rise, the US Federal Reserve System (FRS) may be forced to start phasing out stimulus measures, CNBC notes.
In addition, the results of the meeting of the European Central Bank (ECB) will be summed up on Thursday.
It is expected that the ECB leadership will raise inflation forecasts in the euro area for the current year and maintain large-scale stimulus measures.
The composite index of the largest enterprises in the region Stoxx Europe 600 rose by 0.1% and amounted to 454.01 points.
- Asia-Pacific stock indices declined, except for the Australian S & P / ASX 200, which broke the record
- American stock markets closed with multidirectional changes in indices
- American stock indices rose by 0.5-1.5%
The British FTSE 100 indicator rose by 0.25%, the French CAC 40 – by 0.11%.
Germany’s DAX dropped 0.23%, Italy’s FTSE MIB fell 0.06%, and Spain’s IBEX 35 fell 0.11%.
The growth leader among the Stoxx Europe 600 components was the shares of the asset manager Intermediate Capital Group Plc, which jumped in price by 5.9%.
The leaders of the fall were securities of the Dutch telecom operator Royal KPN NV, which fell 4.3%.