Rentra 4 | European markets open lower (Eurostoxx futures -0.40%, S&P 500 futures +0.45%) in the first session of the year, with the main European and American indices very close to historic highs.
At the macro level, we highlight the publication of the final manufacturing PMIs for December: Germany (47.7 estimated and preliminary versus 48.2 previously), France (50.6 estimated and versus 47.8 previously), Eurozone (49.2 estimated and preliminary versus 49.6 previous), Spain (51.1 estimated versus 51.5 previous), Italy (50 estimated versus 50.6 previous), United Kingdom (51.2 estimated and preliminary versus 50.2 previous), and United States (51.8 estimated and preliminary versus 52.2 previous).
We believe that today’s session will be a transition to next week, when activity should normalise after the Christmas break and when we anticipate there will be a large number of relevant macro references.
