Economic confidence dropped by 0.3 points in August in the European Union and 0.5 points in the Eurozone due to a feeling of uncertainty that has spread to consumers and businesses, according to a report published yesterday by the European Commission. “Among the main EU economies, the Economic Sentiment Indicator fell considerably in Spain (down 2.6), with more moderate deteriorations in Germany (1) and Italy (1). In contrast, it increased…
MADRID | By J. J. Fdez-Figares (LINK) | After the rises experienced by the European and American stocks on Monday, these markets showed yesterday certain weakness, leading to a mixed closing in the major indices in Europe and negative in US. Thus, and since the beginning of the day in Europe some profit taking by the short-term investors were observed, who profited from the rebound that many values experienced on the day before. As there was a lack of relevant developments in the three main geopolitical conflicts (Ukraine, Iraq and Gaza), the investors’ attention turned to macroeconomic data, particularly towards indices released yesterday by the German institute ZEW.