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Hit fresh record highs after Tehran and Washington said the Strait of Hormuz would reopen as part of peace negotiations.
The general government gross debt-to-gross domestic product ratio in the euro area increased to 88.9% in the first quarter from 87.7% in the prior three-month period, Eurostat data showed Tuesday.The ratio stood at 87.2% in the first quarter of 2025.
European bourses tracked moderately higher midday Tuesday as traders joined the global tech rebound and shrugged off Persian Gulf uncertainties.Markets also expect the European Central Bank (ECB) to hold rates steady at its Thursday policy session, with the ECB Watch Tool assigning a slim 8% chance the central bank will boost rates to 2.50%, from the present 2.25%.Tech and bank stocks led gains on continental trading floors, while food and property shares lagged.Investors also eyed Wall Street futures flashing green, and higher closes overnight on Asian exchanges, including a 3.3% rise on Tokyo's Nikkei 225, led by tech-sector gains.In economic news, the Economic Sentiment Index for the euro area logged at 23.4 in June, up from 9.5 in May, and striking the highest level in five months, reported ZEW.Front-month North Sea Brent crude-oil futures were up 1.4% at $90.45 a barrel, in midday trades.The pan-continental Stoxx Europe 600 Index was up 0.3% mid-session.The Stoxx Europe 600 Technology Index was up 1.2%, and the Stoxx 600 Banks Index gained 0.8%.The Stoxx Europe 600 Oil and Gas Index rose 0.7%, while the Stoxx 600 Europe Food and Beverage Index declined 0.8%.The REITE, a European REIT index, fell 1.1%.On the national market indexes, Germany's DAX was up 0.2%, and the FTSE 100 in London gained 0.1%. The CAC 40 in Paris was up 0.1%, and Spain's IBEX 35 lifted 0.8%.Yields on benchmark 10-year German bonds were higher, near 3.17%.The Euro Stoxx 50 volatility index was down 5.2% at 17.02, 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 economic sentiment index climbed to 26.3 points in July from 10.5 points in June, research institute ZEW said Tuesday.The consensus estimate for the month was 15.1 points.Meanwhile, the current situation indicator came in at -77.6 points, compared with the previous -81 points and the expected -77.8 points.
The euro area's economic sentiment index rose to 23.4 points in July from 9.5 points in June, research institute ZEW said Tuesday.The latest reading is above the consensus estimate of 11.2 points.Meanwhile, the ZEW current situation indicator increased by 5.7 points to -37.7 points.
Banks in the euro area tightened their credit standards for companies, mortgages and consumer loans in the second quarter, the European Central Bank said Tuesday.The ECB's July bank lending survey showed that demand for loans from companies slightly increased amid higher demand for fixed investment and working capital. On the housing loans side, demand markedly declined in net terms, weighed down by weaker consumer confidence, interest rate changes and deteriorating housing market prospects.Meanwhile, consumer credit demand continued to decline, reflecting lower consumer confidence, muted spending on durables and changes in interest rates.Looking ahead, banks expect credit standards to tighten further for companies, housing loans and consumer credit in the third quarter.
Spain's trade deficit grew to 8.24 billion euros in May, compared with 5.17 billion euros in April, according to government data published Tuesday.Exports rose 0.9% month over month to 34.69 billion euros, while imports grew 8.5% to 42.94 billion euros.
The European Commission recommended that European Union countries delay penalties for three years on fossil fuel importers that fail to meet the bloc's regulation on reducing methane emissions.In a Monday release, the commission said fines for noncompliance should be suspended from 2027 through 2029 to prevent supply disruptions. It also recommended simpler ways for importers to demonstrate their compliance with the regulation.The emissions monitoring requirements for oil, gas and coal importers and suppliers are set to be implemented from Jan. 1, 2027.
European bourses tracked evenly midday Monday as traders weighed ongoing Persian Gulf hostilities, tech-sector values, and the unfolding earnings season.Oil and tech stocks led gains on continental trading floors, while food and property shares lagged.Ryanair declined 7% mid-session after the budget airline reported fiscal Q1 earnings declined on higher fuel costs and the disrupted Middle East travel plans of potential passengers.Investors also eyed Wall Street futures in the green, and mixed closes overnight on Asian exchanges, although Seoul's semiconductor-heavy KOSPI Index fell back 4.5%.Front-month North Sea Brent crude oil futures were down 1.6% at $86.62 a barrel, midday.In economic news, European enterprises faced a tighter financing environment in Q2, reported the European Central Bank (ECB), citing its quarterly survey. Continental businesses reported higher interest rates and other financing costs, such as fees and commissions, in Q2 over Q1.The pan-continental Stoxx Europe 600 Index was flat mid-session.The Stoxx Europe 600 Technology Index was up 0.4%, and the Stoxx 600 Banks Index gained 0.2%.The Stoxx Europe 600 Oil and Gas Index rose 0.9%, but the Stoxx Europe 600 Food and Beverage Index declined 0.4%.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 lost 0.1%. The CAC 40 in Paris was up 0.2%, and Spain's IBEX 35 was even.Yields on benchmark 10-year German bonds were higher, near 3.14%.The Euro Stoxx 50 volatility index was up 5.5% at 18.25, 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.
BofA Global Research expect the European Central Bank to leave its key interest rates on hold at its Thursday monetary policy meeting, which is forecast to be an "uneventful" one for the euro."With no large surprises in data and energy prices no far from the ECB's baseline forecasts, there is not a big enough sense of urgency to move policy rates now. Our strong conviction here is that, irrespective of whether the ECB hikes once or twice this year, policy rates at the end of 2027 will be 2% at most," analysts said in a Monday preview note. "Why? We still think inflation will prove a lot less persistent than feared. The shape of the current energy price shock is nowhere near that of 2022."The research firm continues to anticipate the ECB to make one final 25 basis-point increase in rates in September as energy prices rose again recently amid renewed hostilities between Iran and the US."We still refrain from expressing these views with an outright long position in the front-end. Risks of further escalation in the US-Iran war, higher oil and/or gas prices, and a market positioning that is likely still long the EUR front-end all make us cautious," BofA added.
The euro area's seasonally adjusted construction production rose 0.4% month over month in May, following a revised 0.1% growth in April, according to Eurostat data published Monday.On a yearly basis, the eurozone's construction output grew 1.2%, against the revised 0.2% increase earlier.
The producer prices of industrial products in Germany increased 1.8% year over year in June, following a 2.2% growth in May, the country's Federal Statistical Office said Monday.On a monthly basis, producer prices were 0.3% lower, against the expected 0.2% dip.
Deutsche Bank Research forecasts the European Central Bank will hold its rates steady on Thursday, despite ongoing energy price uncertainty stemming from the reignited Middle East tensions."Despite these fluctuations, a pause in July is expected. Current oil prices remain below 11 June levels, and the June HICP inflation data, which came in softer than expected, cast some doubt on the rapid emergence of indirect inflation. Furthermore, our June dbDIG survey indicated a complete unwinding of the initial energy shock's impact on household inflation expectations. Waiting until September will provide the ECB with two additional HICP prints and updated staff forecasts, enabling a more informed decision," the research firm said in July 17 preview note, adding it expects the central bank to maintain "neutral communications" with a hawkish stance on inflation.The euro area's annual inflation eased to 2.8% in June from 3.2% a month ago, according to final data from Eurostat. The eurozone's annual core rate, which excludes energy, food, alcohol and tobacco, stood at 2.4%, below May's 2.6%.Conversely, analysts forecast a "second and final" rate hike in September to 2.50%, with the "measured tightening" bringing the rates to the top end of the neutral range. The research firm said the move will be justified by core inflation forecasts remaining high alongside volatile energy concerns and persistent expectations of indirect inflation effects."Despite initial fears of tightening credit conditions due to geopolitical uncertainty, actual credit data has shown no such effect. By feeding the resilience of growth, this reduces ECB apprehension about further rate increases," the note said. Deutsche Bank expects euro area headline inflation to decline from 2.8% in 2026 to 2.3% in 2027, while core inflation is expected to ease slightly from 2.5% to 2.4% over the same period.
The European Commission on Friday launched a comprehensive Electrification Action Plan, intended to lower the European Union's annual fossil fuel import costs by 260 billion euros, as well as an overhaul of the bloc's Emissions Trading System to ease pressure on industries affected by the region's clean energy transition.The Commission will review a new indicative electrification target of 46% by 2040, up from the 23% rate that has "stalled" over the past decade, in a move linked to a reform of the ETS carbon market. The proposal also seeks to address the price gap between electricity and fossil energy costs, fast-track grid deployment and reduce upfront tech costs, among others.To fund this transition, the Commission proposed an Industrial Decarbonisation Bank with 100 billion euros in funding to support large-scale industrial decarbonization.The review will also ease immediate regulatory pressure on industries by slowing the rate of carbon cap reductions through 2040 and extending free carbon allowances for relevant sectors to 2038. A separate proposal also aims to increase free allocation of 6 billion euros in carbon allowances to industry for 2026 to 2030.
European bourses tracked moderately lower midday Friday as traders backed away from tech issues, and weighed ongoing hostilities in the Persian Gulf.Bank shares also lagged, while oil stocks led gains on continental trading floors.Front-month North Sea Brent crude-oil futures were up 2% at $85.89 a barrel, midday.Investors additionally eyed Wall Street futures flashing red, and largely lower closes overnight on Asian exchanges, on a semiconductor-sector retreat.In economic news, the Eurozone consumer price index (CPI) rose 2.8% on year June, cooling from a 3.2% gain logged in May, reported Eurostat. In the broader European Union, the CPI rose 2.9% on year in June, easing from 3.3% in May.The pan-continental Stoxx Europe 600 Index was off 0.6% mid-session.The Stoxx Europe 600 Technology Index was down 2.4%, and the Stoxx 600 Banks Index lost 1.5%.The Stoxx Europe 600 Oil and Gas Index rose 0.6%, while the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.The REITE, a European REIT index, rose 0.4%.On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London lost 0.1%. The CAC 40 in Paris was down 0.9%, and Spain's IBEX 35 eased 0.4%.Yields on benchmark 10-year German bonds were lower, near 3.12%.The Euro Stoxx 50 volatility index was up 5.6% at 17.49, 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.
Annual inflation in the euro area fell to 2.8% in June from 3.2% in May, according to final data from Eurostat published Friday.The final reading is consistent with the flash estimate.On a monthly basis, consumer prices were 0.1% lower, matching the preliminary reading.Excluding energy, food, alcohol and tobacco, the annual inflation rate came in at 2.4%, in line with the initial reading and below the previous month's 2.6%. Month over month, core consumer prices were 0.2% higher, matching the preliminary estimate.
Italy's current account surplus dropped to 594 million euros in May from a revised surplus of 2.55 billion euros in the prior month.In the 12 months to May, the Italian current account surplus totaled 31.2 billion euros, against 18.4 billion euros in the previous year, according to data from the Bank of Italy published Friday.
The euro area's seasonally adjusted current account surplus increased to 25 billion euros in May from the revised 17 billion euros in the previous month, European Central Bank data showed Friday.The consensus estimate for the month stood at 18.1 billion euros.In the 12 months to May, the bloc's current account surplus totaled 272 billion euros, against 318 billion euros a year earlier.
Italy's calendar-adjusted construction output index increased 2.9% year over year in May, following a revised 3.2% growth previously, statistics agency Istat said Friday.On a monthly basis, Italy's seasonally adjusted construction output held steady, against the revised 0.8% gain earlier.
European bourses tracked moderately lower midday Thursday as traders weighed Persian Gulf turmoil, tech valuations and awaited earnings-season results.Oil and tech stocks led declines on continental trading floors, while bank shares inched higher.Investors also eyed Wall Street futures in the red, and largely lower closes overnight on Asian exchanges, in a chip-sector retreat.In economic news, UK gross domestic product (GDP) expanded by 0.1% in May, said the Office for National Statistics. On a quarterly basis, the UK economy is estimated to have expanded by 0.7% in the three months to May.The pan-continental Stoxx Europe 600 Index was off 0.6% mid-session.The Stoxx Europe 600 Technology Index was down 0.8%, but the Stoxx 600 Banks Index gained 0.1%.The Stoxx Europe 600 Oil and Gas Index eased 0.9%, while the Stoxx 600 Europe Food and Beverage Index declined 0.2%.The REITE, a European REIT index, fell 0.4%.On the national market indexes, Germany's DAX was down 0.8%, and the FTSE 100 in London lost 0.3%. The CAC 40 in Paris was down 0.8%, and Spain's IBEX 35 eased 0.6%.Yields on benchmark 10-year German bonds were higher, near 3.14%.Front-month North Sea Brent crude-oil futures were down 0.3% at $84.66 a barrel.The Euro Stoxx 50 volatility index was down 0.5% at 17.34, 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 recorded a trade surplus of 4.79 billion euros in May, up from the revised surplus of 4.42 billion euros in April, according to data from statistics agency Istat published Thursday.Analysts expected a trade surplus of 4.83 billion euros for the month.Seasonally adjusted exports edged up 0.2% month over month, while imports rose 1.5%.
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