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Hit fresh record highs after Tehran and Washington said the Strait of Hormuz would reopen as part of peace negotiations.
Germany's wholesale selling prices climbed 4.9% year over year in January, following a 5.9% jump a month ago, the country's Federal Statistical Office said Tuesday.On a monthly basis, wholesale prices were 0.7% lower, against the consensus estimate of a 0.5% increase.
Germany's current account surplus totaled 10.4 billion euros in May, down by 6.2 billion euros from the previous month, the Deutsche Bundesbank said Monday.The German central bank attributed the movement to a slight increase in trade surplus in goods, alongside a swing to deficit from surplus in so-called invisible current account transactions.
European bourses tracked modestly lower midday Monday as traders weighed fresh and ongoing military actions in the Persian Gulf, and the again uncertain status of the Strait of Hormuz.Oil stocks led gains on continental trading floors, while tech shares lagged.Front-month North Sea Brent crude-oil futures were up 3.9% at $78.59 a barrel.Investors also eyed Wall Street futures in the red, and mostly lower closes overnight on Asian exchanges.The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.The Stoxx Europe 600 Technology Index was down 0.7%, and the Stoxx 600 Banks Index lost 0.2%.The Stoxx Europe 600 Oil and Gas Index rose 1.2%, while the Stoxx 600 Europe Food and Beverage Index declined 0.1%.The REITE, a European REIT index, fell 0.1%.On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London was down 0.1%. The CAC 40 in Paris was up 0.1%, and Spain's IBEX 35 was also up 0.1%.Yields on benchmark 10-year German bonds were higher, near 3.06%.The Euro Stoxx 50 volatility index was up 5.2% at 17.73, 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.
Business sentiment among Germany's residential construction companies further deteriorated in June, as the industry continues to face low demand despite an increase in building permits, the ifo Institute survey said Monday.The ifo business climate index for the sector edged down to -31 points from -29.5 points a month ago, with companies viewing both their present situation and prospects as "worse." The institute noted that business expectations fell to their lowest level since March 2025.Surveyed companies that reported "too few" orders edged up to 43.7% from 42.2%, whereas cancellations of construction projects stayed at a higher level of 11.4%, as material supply remains a concern.
The European Commission conditionally approved US-based oil and gas services company Baker Hughes' (68V.F) $13.6 billion acquisition of industrial process equipment manufacturer Chart Industries (I3N.F), according to a Friday release.To secure definitive approval from the EU regulator, the companies offered to divest Chart's proprietary process technology and small-scale process technology to an approved third-party buyer. The companies also pledged to ensure the interoperability of their equipment with third parties' LNG equipment.The obligations will run for 10 years.The regulator found that without the offered remedies, the merger would lead to reduced competition in the global markets for LNG liquefaction equipment and technologies.
The KOF Swiss Economic Institute's global economic barometers rose in July, moving slightly above the 100-point level, indicating an improvement in the economic momentum worldwide.The coincident global barometer rose 0.6 points to 104.5 points, while the leading barometer increased 0.7 points to 102.5 points, according to a Friday release.The increase in both barometers was largely attributed to positive contributions from the Asia, the Pacific and Africa region and Europe.
European bourses tracked modestly higher midday Friday as traders weighed renewed and ongoing Persian Gulf hostilities, and the re-closing of the Strait of Hormuz to tanker traffic.Front-month North Sea Brent crude-oil futures were up 0.7%, at $76.82 a barrel.Property and bank stocks led gains on continental trading floors, while tech and oil shares lagged.In equity news, shares in UK airline easyJet lifted 15.1% after a surprise $7.65 takeover bid by US private-equity firm Apollo Global Management (APO) was disclosed, one that trumped a rival bid from Castlelake, another US-based private-equity firm.Investors also eyed mixed and muted Wall Street futures, but higher lower closes overnight on Asian exchanges.In economic news, France's consumer price index (CPI) in June rose 1.8% on year, down from the 2.4% on-year increase logged in May, reported INSEE.Germany's CPI in June gained 2.3% on year, down from 2.6% on year in May, reported Destatis.The pan-continental Stoxx Europe 600 Index was up 0.2% mid-session.The Stoxx Europe 600 Technology Index was down 0.5%, and the Stoxx 600 Banks Index gained 0.7%.The Stoxx Europe 600 Oil and Gas Index eased 0.4%, while the Stoxx 600 Europe Food and Beverage Index declined 0.4%.The REITE, a European REIT index, rose 0.9%.On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London also gained 0.1%. The CAC 40 in Paris was steady, and Spain's IBEX 35 lifted 0.5%.Yields on benchmark 10-year German bonds were steady, near3.04%.The Euro Stoxx 50 volatility index was down 1% at 17.39, 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.
The expected oil market surplus in 2027 could be upended by the recent re-escalation of the US-Iran conflict after the interim ceasefire deal was breached, leading to a renewed increase in oil prices, according to the International Energy Agency.In its July oil market report published Friday, the IEA said global oil demand is on the road to recovery, expecting it to increase by more than 8 million barrels per day by October from a low of 97.9 million barrels per day in May. Nonetheless, the agency forecasts demand will decline by 1 million barrels of oil per day in 2026 before rebounding by 2 million barrels per day in the next year.Meanwhile, global supply is projected to drop by an average of 3.7 million barrels of oil per day to 102.6 million barrels per day in 2026, assuming that renewed hostilities between the US and Iran quickly de-escalate. Looking ahead, supply is anticipated to increase by 7.5 million barrels per day next year if transit volumes rise."While the global oil market balance looks set to swing back to surplus towards the end of the year, the forecast hinges on the assumption that tanker flows through the [Strait of Hormuz] will gradually recover, allowing producers to restart fields and refiners in the Middle East and elsewhere to resume product shipments. Renewed exchanges of fire in the Gulf this week highlight the risks of not reaching a lasting peace agreement, which is a must for the normalisation in oil markets," the IEA noted.
Italy's seasonally adjusted industrial production edged down 0.3% month over month in May, after a revised 0.4% rise in April, statistics agency Istat said Friday.Analysts expected a 0.1% downtick for the month.On a yearly basis, the calendar-adjusted industrial output rose 1.1%, against the revised 1.1% gain earlier and the consensus estimate of a 1.3% increase.
As expected, France's annual inflation rate fell to 1.8% in June from 2.4% in May, final data from statistics agency Insee showed Friday.On a monthly basis, consumer prices were 0.3% lower, compared with the flash estimate of a 0.2% drop and the prior 0.1% rise.The annual harmonized inflation rate decreased to 2% from 2.8%, consistent with the preliminary reading. Month over month, harmonized consumer prices declined 0.3%, confirming the initial data, and against the previous 0.1% increase.
Confirming the flash estimate, Germany's annual inflation rate declined to 2.3% in June from 2.6% in May, final data from the country's Federal Statistical Office showed Friday.On a monthly basis, consumer prices were down 0.3%, matching the preliminary reading.The annual harmonized inflation rate for June stood at 2.4%, consistent with the flash data and compared with 2.7% earlier. Month over month, harmonized consumer prices fell 0.2%, as expected.
The European Union is looking to set a new electrification target by 2040 to help reduce reliance on fossil fuels, lower energy costs and bolster the region's clean energy technology sector, Bloomberg News reported Thursday, citing a draft proposal it reviewed.The news outlet said the target will be introduced in a European Commission policy plan scheduled for release on July 17, 2026, with regulators planning to integrate the goal into draft legislation for the post-2030 energy framework slated for the fourth quarter of 2026.The European Commission did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
European bourses tracked modestly higher midday Thursday as traders joined the global rebound in tech shares, but kept an eye on Persian Gulf turmoils and rising crude prices.Bank stocks also led gains on continental trading floors, while food and oil shares lagged.Investors additionally eyed Wall Street futures in the green, and mixed closes overnight on Asian exchanges, although tech equities firmed on trading floors in Seoul and Tokyo.In economic news, Germany's international trade surplus reached 19.1 billion euros in May, up from 14.7 billion euros in April, and also up from 18.8 billion euros in May a year earlier, Destatis reported.The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.The Stoxx Europe 600 Technology Index was up 0.9%, and the Stoxx 600 Banks Index gained 1.4%.The Stoxx Europe 600 Oil and Gas Index eased 0.3%, while the Stoxx 600 Europe Food and Beverage Index declined 1%.The REITE, a European REIT index, rose 0.2%.On the national market indexes, Germany's DAX was up 0.1%, and the FTSE 100 in London lost 0.7%. The CAC 40 in Paris was up 0.3%, and Spain's IBEX 35 lifted 0.9%.Yields on benchmark 10-year German bonds were lower, near 3.08%.Front-month North Sea Brent crude-oil futures were up 1.1% at $78.79 a barrel.The Euro Stoxx 50 volatility index was down 6.4% at 18.97, 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.
Germany's calendar and seasonally adjusted trade surplus came in at 19.1 billion euros in May, up from the revised 14.7 billion euros a month ago, according to data from the country's Federal Statistical Office published Thursday.Analysts expected a trade surplus of 14.9 billion euros for the month.Exports edged up 0.9% month over month, compared with the revised 0.8% gain in May and the expected 0.3% decline. Monthly imports were 2.5% lower, against the revised 1.1% growth earlier and the market forecast of a 0.1% uptick.
The International Monetary Fund cut its German economic growth forecasts for 2026 and 2027 amid the effects of the Middle East war and the accelerated momentum in the global technology cycle.In its latest update to the World Economic Outlook published Wednesday, the IMF expects Germany's economy to grow 0.7% in 2026 and 1% in 2027, down from the April estimates of 0.8% and 1.2%, respectively.
The International Monetary Fund trimmed its economic growth forecast for France in 2026 amid the impact of the Middle East war.In its World Economic Outlook update released Wednesday, the IMF projects France's economy to expand 0.6% in 2026, down from the April forecast of 0.9%.The expected 0.9% expansion for 2027 remains unchanged.
The International Monetary Fund lowered its 2026 growth forecast for the euro area to reflect the effects of the ongoing war in the Middle East on energy prices and consumer confidence.In its latest World Economic Outlook published Wednesday, the IMF now expects the eurozone's growth to come in at 0.9% for 2026, down from its previous forecast in April of a 1.1% expansion. The growth estimate for 2027 was unchanged at 1.2%.The fund said its lower estimate for 2026 reflects a "sizable negative carryover" from the first quarter, largely driven by Ireland, as well as the impact of higher energy prices and weak consumer confidence.
European bourses tracked lower midday Wednesday as traders weighed rising oil prices and interest rates, in the wake of renewed military hostilities in the Persian Gulf.US President Donald Trump on Tuesday declared the US-Iran ceasefire "over," after Tehran repeatedly targeted commercial vessels in the Strait of Hormuz. The US and Iran are engaged in military strikes, and the Strait is apparently again closed to sea traffic.Oil stocks led rare gains on continental trading floors, while bank and property shares lagged.The pan-continental Stoxx Europe 600 Index was off 1.6% mid-session.Front-month North Sea Brent crude-oil futures were up 5.7% midday, at $78.35 a barrel.Yields on benchmark 10-year German bonds were higher, near 3.07%, and striking 15-year highs.Investors also eyed Wall Street futures flashing red, and largely lower closes overnight on Asian exchanges.In geopolitical news, European Union (EU) High Representative for Foreign Affairs and Security Policy Kaja Kallas posted on "X" that EU foreign ministers will meet with Gulf counterparts next Monday, to discuss "freedom of navigation" in the Strait of Hormuz.On the sector indices, the Stoxx Europe 600 Technology Index was down 1.6%, and the Stoxx 600 Banks Index lost 2.7%.The Stoxx Europe 600 Oil and Gas Index rose 1.5%, while the Stoxx 600 Europe Food and Beverage Index declined 0.9%.The REITE, a European REIT index, fell 2.2%.On the national market indexes, Germany's DAX was down 2.1%, and the FTSE 100 in London lost 1.4%. The CAC 40 in Paris was up 2%, and Spain's IBEX 35 lifted 2.5%.The Euro Stoxx 50 volatility index was up 12.5% at 18.89, 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.
France recorded a current account deficit of 100 million euros in May, down from the revised 600 million euros in April, the Bank of France said Wednesday.In the 12 months to May, France's current account deficit totaled 5.7 billion euros, compared with the deficit of 13.1 billion euros a year earlier.
France's foreign exchange reserves fell to 355.39 billion euros in June from 381.30 billion euros in May, according to government data published Wednesday.The total amount comprised 277.03 billion euros in gold reserves, 32.42 billion euros in foreign currency reserves, 39.46 billion euros in claims on the International Monetary Fund, and 6.48 billion euros in other reserve assets.
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