European Equities: Futures Point North Ahead of Key Stats for the Eurozone


Monday, 15th February

Eurozone Industrial Production (MoM) (Dec)

Eurozone Trade Balance (Dec)

Tuesday, 16th February

German ZEW Current Conditions (Feb)

German ZEW Economic Sentiment (Feb)

Eurozone GDP (QoQ) (Q4) 2nd Estimate

Eurozone GDP (YoY) (Q4) 2nd Estimate

Eurozone ZEW Economic Sentiment (Feb)

Thursday, 18th February

Eurozone Consumer Confidence (Flash)

Friday, 19th February

French CPI (MoM) (Jan) Final

French HICP (MoM) (Jan) Final

French Manufacturing PMI (Feb) Prelim

French Services PMI (Feb) Prelim

German Manufacturing PMI (Feb) Prelim

German Services PMI (Feb) Prelim

Italian CPI (MoM) (Jan) Final

Eurozone Manufacturing PMI (Feb) Prelim

Eurozone Markit Composite PMI (Feb) Prelim

Eurozone Services PMI (Feb) Prelim

The Majors

It was a relatively bullish end to the week for the European majors on Friday. The CAC40 and the EuroStoxx600 rose by 0.60% and by 0.64% respectively, while the DAX30 gained just 0.06%.

A lack of economic data from the Eurozone left the majors in the hands of U.S stats, corporate earnings, and sentiment towards the economic outlook.

Disappointing delivery numbers from Volkswagen pegged back the DAX30 on the day, however.

From the U.S, economic data also disappointed. In spite of the stats, however, hopes of a speedier economic recovery continued to support the majors.

The Stats

It was a particularly quiet day on the economic calendar. Economic data was limited to finalized Spanish inflation figures for January that had a muted impact on the European majors.

From the U.S

It was a relatively quiet day. Consumer sentiment and consumer expectations were in focus late in the European session.

According to prelim February figures, the Michigan Consumer Sentiment Index fell from 79.0 to 76.2. Consumer expectations also waned, with the Consumer Expectations Index falling from 74.0 to 69.8.

The decline in sentiment was attributed to the Expectations Index and households with incomes below $ 75,000.

The Market Movers

For the DAX: It was bearish day for the auto sector on Friday. Volkswagen slid by 1.93%, with Continental falling by 0.97%. BMW and Daimler saw relatively modest losses of 0.50% and 0.48% respectively.

It was a bullish day for the banks, however. Deutsche Bank rallied by 2.35%, with Commerzbank rising by 0.23%.

From the CAC, it was a mixed day for the banks. BNP Paribas and Credit Agricole rose by 1.72% and by 1.40% respectively. Soc Gen bucked the trend, however, with a 1.02% loss.

It was also a mixed day for the French auto sector. Stellantis NV rose by 0.73%, while Renault slipped by 0.13%.

Air France-KLM and Airbus SE found support, rising by 0.68% and by 1.09% respectively.

On the VIX Index

It was a 2nd consecutive day in the red for the VIX on Friday. Following on from a 3.37 % fall on Thursday, the VIX fell by 6.02% to end the day at 19.97.

The NASDAQ and the S&P500 rose by 0.50% and by 0.47% respectively, with the Dow gaining 0.09%.

The Day Ahead

It’s a relatively busy day ahead on the European economic calendar. Key stats include industrial production and trade date for the Eurozone.

Following some disappointing industrial production figures from last week, the markets will be looking to see how badly production suffered at the end of the year.

With the U.S markets closed at the start of the week, there will be little else for the markets to focus on at the start of the week.

The Futures

In the futures markets, at the time of writing, the Dow Mini was up by 93 points, with the DAX30 up by 81 points.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire