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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 euro area recorded a trade deficit of 7.8 billion euros in May, down from the revised deficit of 1.2 billion euros in the previous month, according to Eurostat data published Thursday.The consensus estimate for the month was a deficit of 2.8 billion euros.Exports of goods to the rest of the world climbed 0.1% year over year to 243.6 billion euros, while imports rose 10% to 251.4 billion euros.
As expected, Italy's annual inflation rate fell to 3% in June from 3.2% in May, final data from statistics agency Istat showed Thursday.On a monthly basis, consumer prices were flat, matching the flash figure, and against the prior 0.4% increase.The Italian harmonized inflation rate stood at 3% on an annual basis, compared with the preliminary reading of 3.1% and the previous 3.2%. Month over month, harmonized consumer price growth stalled, against the initial estimate of a 0.1% rise and the 0.3% gain earlier.
European bourses tracked marginally lower midday Wednesday as traders weighed rising oil prices and interest rates, and ongoing hostilities in the Persian Gulf.Tech stocks led gains on continental trading floors, after ASML (ASML) the giant Dutch maker of semiconductor-manufacturing equipment, reported record Q2 earnings and raised guidance.Food and property shares lagged.Yields on benchmark 10-year German bonds edged up near 3.11%, striking a fresh 15-year high.Front-month North Sea Brent crude-oil futures were up 0.7% at $85.31 a barrel midday.Investors also eyed Wall Street futures in the green, and higher closes overnight on Asian exchanges.In economic news, seasonally adjusted industrial production decreased by 0.2% in May from April in the Eurozone, and by 0.1% in the broader European Union (EU), Eurostat reported. On the year, industrial output declined by 1.2% in the euro area in May, and by 0.3% in the EU.The pan-continental Stoxx Europe 600 Index was off 0.1% mid-session.The Stoxx Europe 600 Technology Index was up 0.9%, but the Stoxx 600 Banks Index lost 0.3%.The Stoxx Europe 600 Oil and Gas Index eased 0.3%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, fell 0.5%.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 0.3%, and Spain's IBEX 35 fell 0.8%.The Euro Stoxx 50 volatility index was down 1.3% at 17.43, 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 euro area's industrial production fell 0.2% month over month in May, after a revised 0.3% increase in April, Eurostat data showed Wednesday.The consensus estimate for the month was a 0.3% gain.On a yearly basis, industrial production recorded a 1.2% drop, compared with the revised 0.4% growth earlier and the expected 0.5% decline.
Spain's annual inflation held steady at 3.2% in June for a third consecutive month, final data from the National Statistics Institute confirmed Wednesday.On a monthly basis, consumer prices in Spain were up 0.6%, in line with the initial reading and against the previous 0.1% uptick.The Spanish annual harmonized inflation rate remained unchanged at 3.6%, matching the flash figure. Month over month, harmonized consumer prices grew 0.6%, in line with the initial data and compared with the 0.1% gain earlier.Meanwhile, the country's annual core inflation rate edged down to 2.9% from 3%, meeting the flash figure.
The European Commission plans to temporarily delay the implementation of penalties on fossil fuel imports that fail to meet the European Union's methane emissions rules, Bloomberg News reported Tuesday.Céline Gauer, the commissions directorate-general for energy, told the European Parliament's industry committee that the bloc will present two recommendations to encourage member states not to impose fines "for a certain period of time" to let the market adjust amid the current energy crisis due to the Middle East conflict.Gauer said the commission hopes to unveil the guidelines next week, the news outlet noted.
The European Union failed to adopt the 21st sanctions package against Russia following contention on three main points, Bloomberg News reported Tuesday, citing people familiar with the matter.The main disagreements were reportedly over restrictions on the transport of Russian liquefied natural gas, measures affecting Austria's Raiffeisen Bank International (RBI.VI), and a proposal to keep the price cap on Russian crude until January 2027.The European Commission did not immediately respond to a request for comment from.(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 lower midday Tuesday as traders weighed fresh hostilities in the Persian Gulf, higher crude prices, and rising bond yields.Oil stocks led gains on continental trading floors, while bank, tech and property shares lagged.Front-month North Sea Brent crude-oil futures were up 3.5% at $86.19 a barrel in midday action.Yields on benchmark 10-year German bonds were higher, near 3.09% and testing 15-year highs.Investors also eyed mixed Wall Street futures, but higher closes overnight on Asian exchanges on a tech-sector recovery, and following strong June international trade reports from Beijing.In economic news, the UK's main problem is economic growth, Bank of England (BoE) Governor Andrew Bailey testified to the Treasury Select Committee of the Parliament. The renewed Persian Gulf hostilities could exacerbate inflation and financial instabilities, added Bailey.The pan-continental Stoxx Europe 600 Index was off 0.4% mid-session.The Stoxx Europe 600 Technology Index was down 1.1%, and the Stoxx 600 Banks Index lost 0.8%.The Stoxx Europe 600 Oil and Gas Index rose 1.1%, while the Stoxx 600 Europe Food and Beverage Index declined 0.5%.The REITE, a European REIT index, fell 1%.On the national market indexes, Germany's DAX was down 0.7%, and the FTSE 100 in London lost 0.2%. The CAC 40 in Paris was down 0.7%, and Spain's IBEX 35 eased 1%.The Euro Stoxx 50 volatility index was up 5.6% at 18.64, 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 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.)
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