February 14. European stock indexes are traded differently against the background of weak corporate reporting and mixed economic statistics. The positive earnings report was published by the Swedish online game maker Kindred Group, the company’s shares are growing by 8.3%. German building materials manufacturer HeidelbergCement reported a 4% drop in profits, after which the company’s shares fell 2.1%. Rolls-Royce, a British engine maker, reported less profit than expected, allowing stocks to stay close to previous levels. Travel company TUI AG lost 3.2%, after reporting a decrease in profits. Positive economic data from China helped to maintain the demand for the assets of the mining sector, and jumped oil prices could restore the demand for energy companies. Today, Fed Chairman Yellen, will begin a two-day speech before the US Congress. Investors are trying to remain cautious, fearing that Yellen might remind them of plans by the central bank to raise interest rates soon. Data released today showed accelerated growth in the German economy in the fourth quarter of 2016. In the fourth quarter, GDP grew by 0.4%, compared to the third quarter. In the third quarter, GDP grew by 0.1%. In 2016, Germany’s GDP growth was strongest in the last five years. The main incentives for economic growth were high consumer demand, a construction boom and a rise in government spending, including for the accommodation of refugees. Low interest rates on deposits have increased the tendency of buyers to spend money, and low inflation has increased purchasing power. Germany’s consumer price index in January fell by -0.6%, compared with the previous month as expected. The volume of loans issued in Switzerland is 2030.0 billion, with the forecast of 2440.0 billion. The consumer price index in Switzerland in January remained at the same level, with the forecast of a decline of -0.1% from the previous month. Switzerland’s producer price index in January rose by 0.4% compared to the previous month, with a forecast of growth of 0.3%. Italy’s GDP in the fourth quarter increased by 0.2% compared to the third quarter, as economists had expected. The basic index of selling prices of UK producers in January rose by 0.5% compared to the previous month, while the growth forecast was 0.3%. The UK consumer price index in January fell by -0.5% from the previous month, as economists predicted. The index of purchasing prices of manufacturers in the UK in January rose by 1.7% compared to the previous month, while the growth forecast was 1.0%. The UK house price index (yoy) rose by 7.2%, with a growth forecast of 6.9%. The index of current economic conditions ZEW in Germany in February 76.4, with the forecast of 77.2. The index of economic sentiment ZEW in Germany in February 10.4, with the forecast of 15.0. Eurozone GDP grew by 0.4% in the fourth quarter from the previous quarter, with a 0.5% growth forecast. The volume of industrial production in the eurozone in December decreased by -1.6%, relative to the previous month, with the forecast of a decline of -1.5%. The eurozone economic sentiment index from ZEW 17.1, with the forecast of 22.3. In France, new survey data was published. The leader in the first round remains Marine Le Pen, gaining 26% of the vote. But according to the results of the second round, she still loses, sociologists say.
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Review prepared by the analytical department https://www.fortfs.com/en/analytics/review
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