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European economy

EuroStoxx50

European economy 5th September 2023

Acciona Energia and Telefonica Deutschland to exit Stoxx 600, Hochtief and others join

Link Securities| The index manager, Stoxx 600, has communicated a list of the five companies that will leave the pan-European index and the five that will take their place, according to Expansión newspaper on Monday. Among the first is Acciona Energy (ANE). The renewable energy company will be excluded from the Stoxx 600 from 18 September, which will cause a withdrawal of positions by the many funds that replicate the…

Alemania industria

European economy 4th September 2023

With orders at record lows, Eurozone manufacturing rises 0.8 points to 43.5 in August

Singular Bank: In August, the final reading of the IHS Markit manufacturing PMI index for the Eurozone advanced 0.8 points from the previous month to 43.5 points (vs. 42.7 points in July), slightly below the preliminary estimate of 43.7 points, remaining in contractionary territory since August 2022 (below 50 points). A performance weighed down by the fall in new factory orders at their fastest pace since the beginning of the…

bayer1

European economy 30th August 2023

Positive results from Bayer clinical trial to treat Parkinson’s disease

Bankinter | Positive results from a clinical trial to treat Parkinson’s disease. It is an initial trial, conducted with 12 patients whose Parkinson’s disease symptoms have improved. The treatment has been well tolerated by the participants, and there are no concerns about its safety profile. Bayer announced the findings of this trial at the International Congress of Parkinson’s Disease and Movement Disorders in Copenhagen and will publish the full results…

ECB night

European economy 29th August 2023

Overall credit growth to the private sector slowed to 1.6% in July, weakest pace since June 2016

Link | According to the ECB yesterday, the M3 monetary aggregate in the eurozone increased by 0.4% year-on-year in July (+0.6% in June) to €15.6 trillion, thus exceeding the expectations of FactSet consensus analysts, who expected it to remain unchanged in the month (0.0%). The total amount of loans in the eurozone increased at a year-on-year rate in July by 1.30%, slightly below the 1.7% increase in June and the…

LNG regasification ship

European economy 28th August 2023

Europe’s gas storage at 90%

Santander | Europe’s gas storage reached 90% of storage capacity on August 16, well ahead of the EU’s requirement to reach that level by November 1, which marks the start of the winter heating season. European Energy Commissioner, Kadri Simson, commented that this “underlines that the EU is well prepared for winter, which will help to further stabilise markets in the coming months. The EU energy market is in a…

eurozone banks

European economy, Relevant News Item 25th August 2023

Goodbye to the “soft landing”? Eurozone’s PMI slump foreshadows recession

Ana Racionero (Intermoney )| In Europe, the PMIs showed the bill that is being paid for the ECB’s rate hikes. The downturn was of great magnitude and, what is worse, anticipates recession in the eurozone, specifically, a contraction of around -0.2%/-0.3% in the third quarter, after having grown by 0.3% in the previous quarter. Although France’s manufacturing rose in August from 45.1 in July to 46.4, when a decline to…

euros prestamos

European economy, Relevant News Item 24th August 2023

Eurozone current account surplus reaches €6.8bn in June, largest since June 2021, up from deficit of €4.4bn a year ago

Link Securities | According to data from the European Central Bank (ECB), the eurozone recorded a current account surplus of €36.8 billion in June, compared with a deficit of €4.4 billion in the same month a year earlier. June’s surplus is the largest current account surplus achieved by the region since September 2021. This surplus was driven by the goods account, which went on to generate a surplus of €42.7…

Eurozona PMIs chunguis

European economy, Relevant News Item 23rd August 2023

Eurozone services sector worsens in August with similarly weak manufacturing performance: region could contract by 0.2% in Q3

CdM: The eurozone’s private sector activity has deteriorated significantly during the month of August, when in addition to the fall in activity in the manufacturing sector there has also been a worsening in services, according to advance data from the Purchasing Managers’ Index (PMI) and reported by Europa Press, which suggest a contraction in the eurozone’s GDP of 0.2% in the third quarter of 2023. Specifically, the advance estimate of…

alemania reichstang

European economy, European politics, Relevant News Item 22nd August 2023

Germany proposes restrictions on Chinese direct investment in sectors like semiconductors, AI and quantum computing

Banca March| German Vice Chancellor Robert Habeck, Germany’s finance minister and a member of the Green party, is proposing restrictions on sectors where Chinese influence could pose a threat to Western economic security. These include semiconductors, artificial intelligence and quantum computing. These measures are framed in a context of debate and criticism of China’s geopolitical situation; authoritarianism in the country, military threats against Taiwan and ties with Russia. On the…

Europa chinchetas

European economy, Relevant News Item 16th August 2023

Eurozone returns to growth in second quarter, GDP rises by 0.3%

CdM| After a first quarter in which the economy showed no progress, the Gross Domestic Product (GDP) of the eurozone recorded growth of 0.3% in the second quarter, according to the preliminary estimate published by Eurostat, the EU’s statistics office. Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.6% in the euro zone. For its part, in the European Union (EU) as a whole,…