European stocks rise while German industrial orders are strong. The release of strong German industrial orders aided Wednesday’s EU markets to move mostly higher., But risk perceptions remain.
European Stock markets climb on strong industrial data
The DAX indicator in Germany traded unchanged at 03:35 ET (07:35 GMT). While the CAC 40 increased by 0.1% and the FTSE 100 rise by 0.2%.
Trading spreads are anticipated to be narrow in Europe as the long weekend draws near. But the mood was buoyed by the early -Wednesday release of figures. That showed a 4.8 percent rise in German industrial orders in Feb.
In addition, French industrial output increased by 1.2% monthly basis in February. Exceeding the forecasted 0.5% growth and markedly improving from the previously reported decline of 1.4%.
These figures encourage the region’s struggling manufacturing industry. Which has been performing worse than services across Europe. However, markets are still cautious about the chance of recessions on both sides of the Atlantic. And risk sentiment is still shaky.
European stock markets assessing US fed and rate increase cycle
According to the JOLTS report released on Tuesday. The job postings in the US fell to their lowest level in nearly two years in February. This came after information that the manufacturing sector in the US continued to decline in March.
The manufacturing activity figures released on Monday in Europe revealed that businesses struggled last month. As consumers felt the pinch of increasing living expenses. Whereas there is some disagreement over if the Federal Reserve will stop raising interest rates next month. The ECB may still do so in May as it fights increasing core inflation.
The stock markets concentrate upcoming Eurozone PMI
The distribution of the final Eurozone purchasing managers’ index data for the services sector in March. Which is anticipated to show continued growth, and will be the primary topic of discussion on Wednesday. After the French catering and food services group showed plans to spin off and list its Benefits & Rewards Services business during 2024. Sodexo’s (EPA: EXHO) shares surged nearly nine percent in the corporate sector.
After announcing a drop in first-half sales volumes. The largest chocolate manufacturer in the world, Barry Callebaut (SIX: BARN), cut its stock price by 2%. While named Peter Feld as its new CEO.
Crude oil – API data crucial
Crude oil prices increased on Wednesday as U.S. crude inventories decreased, according to industry statistics. Extending a rally started by the weekend’s surprise OPEC+ production reduction.
According to statistics from the American Petroleum Institute. U.S. crude oil inventories decreased by about 4.3 million barrels in the week ending March 31. Indicating a rise in demand. Later in the session, the U.S. Energy Information Administration will present its formal weekly report.
