February 7, most European stock markets traded higher, amid weakening European currencies and the positive reports of some companies. Positive earnings reports were published by the microchip manufacturer AMS and the manufacturer of food processing equipment GEA. AMS shares added 13.6%, while GEA shares rose 5.5%. On the other hand, there were shares of BP and Peer Statoil, which fell in price after the publication of weak profit results. Shares of mining companies, including Rio Tinto and Anglo American PLC, were trading higher after JP Morgan raised its iron ore price forecast for 2017. In the course of yesterday’s speech before the European Parliament’s economic affairs committee, the head of the European Central Bank, Mario Draghi, said that he had no plans to tighten monetary policy in the near future. According to Draghi, the jump in inflation in the eurozone is temporary and largely due to rising oil prices. He also said that the ECB cannot be called currency manipulators, and the measures taken by the monetary policy reflect the differences in economic cycles between the countries of the eurozone and the United States. In the political life of Europe, the main event was the statement by Francois Fillon, a candidate for the presidency of France from the center-right party, about plans to continue the struggle for the presidency. This is a bit reassured by opponents of Marine Le Pen, who, if he wins the election, may start a campaign for France’s withdrawal from the EU.

Consumer confidence index in Switzerland from SECO in the first quarter -1, with the forecast of -11. The volume of industrial production in Germany in December fell by -3.0%, compared to the previous month, while the growth forecast was 0.3%. France’s current account balance in December is -1.01 billion, while the forecast is -1.40 billion. France’s trade balance in December is -3.4 billion, while the forecast is -4.2 billion. The house price index in the UK from Halifax in January fell by -0.9%, compared to the previous month, while the growth forecast was 0.2%. FTSE 100 7.210.88 38.73 0.54%. DAX 11,546.52 36.68 0.32%. CAC 40 4,779.27 1.19 0.02%. FTSE MIB 18.757.53 63.88 0.34%. IBEX 35 9,351.70 -5.60 -0.06%. Stoxx 600 362.90 1.30 0.36%.

Review prepared by the analytical department [url = https: //www.fortfs.com] Fort Financial Services [/ url] Follow our publications!

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