STOXX Europe 600

European Central Bank Raises Interest Rates by 25 Basis Points in September

The European Central Bank raised its three key interest rates by 25 basis points at its September meeting on Thursday as inflation in the euro area exceeded its 2% medium-term target rate amid the ongoing war in the Middle East.As widely expected, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will rise to 2.50%, 2.65% and 2.90%, respectively, effective Sept. 16.The ECB said uncertainty over the outlook remains high, with an upside risk to inflation and a downside risk to economic growth."In relation to the energy shock, the updated scenarios put together by staff illustrate the broad range of outcomes for how growth and inflation would evolve under different assumptions about its intensity and duration, as well as its indirect and second-round effects," the ECB said, reiterating its commitment to ensure that the inflation rate stabilizes at its 2% target.

KOF Global Barometers Improve in September

The KOF Swiss Economic Institute's global economic barometers rose in September, indicating a "moderate" rate of economic growth worldwide.The coincident global barometer rose 1.4 points to 104.6 points, recovering from the previous month's decline, while the leading barometer moved up 1.4 points to 105.9 points, according to a Thursday release.The increase in both barometers was largely attributed to the positive contribution from the Asia, Pacific and Africa region.

European Central Bank Raises Key Interest Rates by 25 Basis Points

ECB Rate Outlook, Oil Limit European Bourses Midday

European bourses tracked modestly lower midday Thursday as traders awaited a rate decision from the European Central Bank (ECB) and weighed rising crude prices.The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.Oil stocks led modest gains on continental trading floors, while tech shares lagged.Front-month North Sea Brent crude-oil futures were up 1.1% at $102.31 a barrel in midday trades.The ECB is expected to raise its key policy rate to 2.50% from 2.25% in an afternoon decision, in a bid to cool the continent's inflation rate.Investors also eyed largely muted Wall Street futures, and mostly lower closes overnight on Asian exchanges.In the sectors, the Stoxx Europe 600 Technology Index was down 0.8%, and the Stoxx 600 Banks Index lost 0.1% in mid-session trading.The Stoxx Europe 600 Oil and Gas Index rose 0.3%, while the Stoxx 600 Europe Food and Beverage Index declined 0.2%.The REITE, a European REIT index, was steady.On the national market indexes, Germany's DAX was steady, and the FTSE 100 in London lost 0.3%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 lifted 0.3%.Yields on benchmark 10-year German bonds were higher, near 3.45%.The Euro Stoxx 50 volatility index was up 13% at 18.74, but still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

Italy's Monthly Industrial Output Up 0.7% in July

Italy's seasonally adjusted industrial production increased 0.7% month over month in July, after a revised 1.1% decrease in June, statistics agency Istat said Thursday.Analysts expected 0.3% growth for the month.On a yearly basis, the calendar-adjusted industrial output was stable, against the previous and expected 0.6% decline.

Spanish Annual Industrial Output Climbs 2.3% in July

Spain's industrial production, adjusted for seasonal and calendar effects, rose 2.3% year over year in July, following 1.1% growth in June, provisional data from the National Statistics Institute showed Thursday.On a monthly basis, Spanish industrial output increased 0.6%, against the 0.7% decline previously.

German Annual Inflation Confirmed at 2.9% in August

Confirming the flash estimate, Germany's annual inflation rate ticked up to 2.9% in August from 2.8% in July, final data from the country's Federal Statistical Office showed Thursday.On a monthly basis, consumer prices edged up 0.2%, matching the preliminary reading and against the previous 0.8% increase.The annual harmonized inflation rate for August was also confirmed at 2.9%, compared with 2.8% earlier. Meanwhile, harmonized consumer prices were affirmed to be 0.2% higher month over month, against the previous reading of a 0.9% gain.

European Central Bank, Oil Outlooks Blunt European Bourses Midday

European bourses tracked lower midday Wednesday as traders weighed rising bond yields and oil prices, and looked ahead to a European Central Bank rate decision on Thursday.The pan-continental Stoxx Europe 600 Index was off 1.4% mid-session.Oil stocks led scant gains on continental trading floors, while bank and tech shares lagged.Investors also eyed Wall Street futures in the red amid uneven closes overnight on Asian exchanges.Front-month North Sea Brent crude-oil futures were up 2.8% at $100.65 a barrel in midday trades, with oil prices exceeding $100 a barrel for the first time since July.In economic news, the ECB Watch Tool estimates a 99% chance the central bank will raise rates to 2.50% from 2.25%. The ECB's accompanying explanation will be read for clues as to whether the monetary authority plans more rate hikes in 2026.On the sectors, the Stoxx Europe 600 Technology Index was down 1.4%, and the Stoxx 600 Banks Index lost 2.4% mid-session.The Stoxx Europe 600 Oil and Gas Index gained 0.3%, while the Stoxx 600 Europe Food and Beverage Index declined 1.2%.The REITE, a European REIT index, fell 1%.On the national market indexes, Germany's DAX was down 1.5%, and the FTSE 100 in London lost 1%. The CAC 40 in Paris was down 1.8%, and Spain's IBEX 35 eased 2.2%.Yields on benchmark 10-year German bonds were higher, near 3.4%.The Euro Stoxx 50 volatility index was up 11% at 18.44, but still indicated below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

French Monthly Industrial Production Falls 0.4% in July

France's industrial production was down 0.4% month over month in July, following a revised 0.1% decline in the previous month, statistics agency Insee said Wednesday.Analysts expected a 0.2% gain for the month.On a yearly basis, the index was down 0.5%.

Middle East Turmoil, Higher Crude Bills Damp European Bourses Midday

European bourses tracked modestly lower midday as traders weighed fresh hostilities in the Middle East and rising petroleum prices.Saudi Arabia said attacks from Yemen's Houthis had halted operations at several energy facilities, multiple news outlets reported.Food and oil stocks led gains on continental trading floors, while tech and bank shares lagged.Front-month North Sea Brent crude-oil futures were up 1.7% at $98.60 a barrel in midday action.Investors also eyed muted Wall Street futures, and lower closes overnight on Asian exchanges.In economic news, Germany's exports were down 0.8% in July from June, and imports dropped 5.7%, reported the Federal Statistical Office, or Destatis. Year on year, Germany's exports increased by 6.1% in July, and imports rose by 3%.The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.The Stoxx Europe 600 Technology Index was down 0.6%, and the Stoxx 600 Banks Index lost 0.6%.The Stoxx Europe 600 Oil and Gas Index rose 0.2%, while the Stoxx 600 Europe Food and Beverage Index inclined 1.5%.The REITE, a European REIT index, fell 0.5%.On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London was flat. The CAC 40 in Paris was marginally lower, and Spain's IBEX 35 eased 0.3%.Yields on benchmark 10-year German bonds were higher, near 3.38%.The Euro Stoxx 50 volatility index was up 3.2% at 16.90, but still indicating below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

French Current Account Deficit Rises in July

France recorded a current account deficit of 4.7 billion euros in July, up from the revised deficit of 1.6 billion euros in June, the Bank of France said Tuesday.In the 12 months to July, France's current account deficit totaled 12 billion euros, compared with the deficit of 18.2 billion euros a year earlier.

Ifo: German Electronics Industry Sentiment Hits Highest Level Since May 2023

Sentiment in the German electronics industry sustained its upward trajectory in August, as companies are "significantly more optimistic" about their business outlook, the ifo Institute said Tuesday.The business climate indicator climbed to 16 points from 10 points a month ago, marking the index's strongest reading since May 2023. ifo noted that while surveyed companies were "more cautious" about current business conditions versus the previous month, the sentiment was still "clearly positive."The main driver was digitalization, particularly growing investments in artificial intelligence, data centers and automation bolstering order books. International business is also strengthening business confidence, according to ifo."This is no short-lived flash in the pan, but the result of long-term investments that will boost the industry for some time to come," ifo expert Klaus Wohlrabe said.

French Current Account Deficit Rises in July

France recorded a current account deficit of 4.7 billion euros in July, up from the revised deficit of 1.6 billion euros in June, the Bank of France said Tuesday.In the 12 months to July, France's current account deficit totaled 12 billion euros, compared with the deficit of 18.2 billion euros a year earlier.

German Trade Surplus Widens in July

Germany's calendar and seasonally adjusted trade surplus came in at 21.3 billion euros in July, up from 15.4 billion euros a month ago, according to data from the country's Federal Statistical Office published Tuesday.Analysts expected a trade surplus of 16 billion euros for the month.Exports edged down 0.8% month over month, compared with the 0.9% gain in June and the expected zero growth. Monthly imports were 5.7% lower, against the revised 4.5% increase earlier.

Eurozone's Monthly Services Output Down 0.3% in June

The euro area's seasonally adjusted services production edged down 0.3% month over month in June, following a revised 0.7% rise in May, according to Eurostat data published Monday.On a yearly basis, the eurozone's services output increased 1.5%, against the revised 2.3% gain earlier.

Sentix: Eurozone Investor Sentiment Improves in September

The euro area's investor confidence index climbed to 5.1 points in September from 0.9 points in August, a Sentix survey published Monday showed.The latest reading is above the consensus estimate of 2.1 points and marks the highest since February 2022.The expectations index for the region increased to 13.8 points from 10.3 points, while the current situation indicator rose to -3.3 points from -8.0 points.

Eurozone's Quarterly GDP Up 0.6% in Q2, Third Estimate Shows

The euro area's seasonally adjusted gross domestic product rose 0.6% in the second quarter, following zero growth in the prior three-month period, according to Eurostat's third estimate released Monday.The latest reading compares with the second estimate of a 0.4% rise.On a yearly basis, the region's economy grew 1.2% in the quarter, against the second estimate of a 1% expansion and the revised 0.6% increase previously.

Eurozone's Employment Growth Steady at 0.1% in Q2, Final Data Shows

The number of employed individuals in the euro area rose 0.1% in the second quarter, the same as in the prior three-month period, final data from Eurostat showed Monday.The figure is in line with the flash estimate.On a yearly basis, employment growth in the eurozone stood at 0.5% in the second quarter, unchanged from the previous quarter and in line with the flash reading.

French Foreign Exchange Reserves Increase in August

France's foreign exchange reserves rose to 380.69 billion euros in August from 357.05 billion euros in July, according to government data published Monday.The total amount consisted of 301.16 billion euros in gold reserves and 33.91 billion euros in foreign currency reserves, along with 39.23 billion euros in claims on the International Monetary Fund and 6.39 billion euros in other reserve assets.