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Markets

Weekly market recap: Record moment resumes as tech stocks lead the way

Risk-on sentiment prevailed in global markets as the Nvidia-led tech rally buoyed Wall Street, while the ECB’s rate cut sent the Euro Stoxx 600 to an all-time high.

Economy

ECB delivers a “hawkish” rate cut, Lagarde stresses data dependency

The ECB reduced interest rates by 25 basis points, signalling a moderation in monetary policy restrictions. However, Frankfurt also issued an upward revision to its inflation projections, now expecting headline inflation to average 2.5% in 2024 and 2.2% in 2025.

Economy

ECB expected to cut interest rates: What you need to know

The European Central Bank is expected to cut interest rates by 25 basis points at its meeting this afternoon, reducing the main refinancing rate to 4.25%, the marginal lending rate to 4.50%, and the deposit rate to 3.75%.

Economy

German inflation rises as consumer confidence hits 2-year high

Germany's annual inflation rose to 2.4% in May, matching forecasts, while the core rate held at 3.0%. Consumer sentiment improved to an over 2-year high as market watchers anticipate an ECB interest rate cut in June.

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Economy

Fresh hint that ECB might be set to cut interest rates at June meeting

Eurozone inflation has dropped from above 10% at its 2022 peak to a near three-year low of 2.4% in April. Forecasts see a rise to 2.5% when May's data comes out later this week.

Markets

Ahead in the market: All eyes remain focused on inflation

This week, investors will focus on inflation data from the major Eurozone economies, seeking clues about the interest rate path of the European Central Bank (ECB).

Business

Union reps call for ECB national quota-based employment process

Union representatives have called on the European Central Bank to open a national quota-based employment process after an Irish member of the ECB’s executive board urged Dublin to preserve his country’s outsized presence among the bank’s staff.

Economy

ECB signals a ‘plausible’ June rate cut as European equities surge

The latest minutes from the European Central Bank meeting indicated a rising chance for easing monetary policy in June. While a majority support maintaining current rates, a few members already advocated for immediate cuts in April.

Business

Ahead in the Markets: The BoE's rate decision, UBS, and ARM earnings

This week, all eyes will be on the Bank of England's (BoE) rate decision, along with the release of quarterly earnings reports from major companies including UBS and BP. These events will provide crucial insights into the market trajectory and investor sentiment.

Economy

Eurozone growth tops estimates as April inflation holds steady at 2.6%

Eurozone economy grew by 0.3% in the first quarter of 2024, beating expectations and marking the strongest growth since Q3 2022. Annual inflation remained stable at 2.4%, while core inflation slowed to 2.7%, likely clearing the path towards the first ECB rate cut in June.

Economy

Low-income Europeans facing hard times over housing cost struggle

ECB research shows that more than one-fourth of low-income households expect late payments on their mortgages in the coming months.

Europe News

ECB queries Apple’s promise to open up iPhone payments

Central bankers say pro-competition reforms still wouldn’t ensure seamless service for their new digital euro.

Economy

Could oil price surge derail the ECB's plans for a rate cut in June?

Latest developments in the Middle East raise concerns about a potential broader conflict and its global economic ramifications. Key worries for Europe include whether escalating energy prices might influence the European Central Bank's (ECB) decision-making regarding a planned rate cut in June.

Economy

ECB's Lagarde highlights private capital need for innovation in Europe

At a Council on Foreign Relations meeting on Wednesday, European Central Bank President Christine Lagarde stressed the importance of private investments in catalysing Europe's green transition and fostering innovation.

Markets

Could the euro reach parity with the dollar as the ECB cuts rates?

As the ECB hints at potential interest rate cuts, contrasting with expectations of delayed US Fed easing due to high inflation, the euro faces downward pressure, hitting a six-month low below 1.07 against the dollar.

Economy

Inflation cools in Germany and France as food and energy prices fall

German and French inflation numbers both fell in March, primarily due to declining food and energy prices, leading to more hopes of inflation soon returning to the ECB’s 2% target.

Markets

Weekly round-up: Markets at crossroads following ECB’s rate-cut hint

The European stock markets will likely end the week in the red for the second straight week due to surging bond yields, despite the European Central Bank’s hint for a June rate cut.

Economy

Lagarde sets the stage for a June rate cut: What hurdles remain?

The European Central Bank may ease policy restrictions at the next June meeting, dependent on data reinforcing policymakers' confidence on disinflation. ECB President Christine Lagarde emphasised ECB's independence from the Fed.

Economy

Eurozone inflation falls more than expected: Green light for ECB cuts?

Eurostat data for March 2024 revealed a drop in annual consumer price inflation to 2.4%, below the expected 2.6% and hitting a four-month low. Market foresees four ECB rate cuts by end-2024, with the first expected in June.

Economy

Inflation cools in Germany as interest rates hamper growth

Prices increased more slowly than expected in March according to official figures, fuelling hopes for an ECB rate cut.