In This Article:
Economic Calendar:
Wednesday, 29th April
German CPI (MoM) (Apr) Prelim
Thursday, 30th April
French GDP (QoQ) (Q1) 1st Estimate
German Retail Sales (MoM) (Mar)
French Consumer Spending (MoM) (Mar)
French CPI m/m (Apr) Prelim
French HICP m/m (Apr) Prelim
Spanish GDP (QoQ) (Q1) 1st Estimate
Spanish HICP (YoY) (Apr) Prelim
German Unemployment Change (Apr)
German Unemployment Rate (Apr)
Italian CPI (MoM) (Apr) Prelim
Eurozone CPI (YoY) (Apr) Prelim
Eurozone Unemployment Rate (Mar)
Eurozone GDP (Q1) 1st Estimate
ECB Interest Rate Decision (Apr)
The Majors
It was a 2nd consecutive day in the green for the European majors on Tuesday.
The EuroStoxx600 rose by 1.68% to lead the way, with the CAC40 and DAX30 rising by 1.43% and by 1.27% respectively.
There were no material stats from the Eurozone to influence, leaving the majors in the hands of the news wires.
From the EU and the U.S, the number of new coronavirus cases continued the downward trend, supporting government steps to ease lockdown measures.
Governments were also busy layout out their plans to begin reopening, which was key to the gains early in the week.
The Stats
It was a particularly quiet day on the Eurozone economic calendar on Tuesday. There were no material stats released from the Eurozone to provide the majors with direction.
From the U.S, April consumer confidence figures and March trade data also had a muted impact in spite of another set of dire numbers.
In April, the CB Consumer Confidence Index slumped from 118.8 to 86.9. Also negative was a widening in the goods trade deficit from $59.89bn to $64.22bn.
The Market Movers
For the DAX: It was a mixed day for the auto sector. Continental slid by 2.17% to buck the trend on the day. Daimler rose by 2.96% to lead the way, however, with BMW and Volkswagen seeing gains of 2.23% and 2.68% respectively.
It was another bullish day for the banks, however. Deutsche Bank rose by 3.59%, with Commerzbank rallying by 4.39% on the day.
Deutsche Lufthansa eked out a 0.35% gain following Monday’s 11.83% breakout.
From the CAC, the banking sector also found strong support on Tuesday. BNP Paribas rallied by 5.72%, with Credit Agricole and Soc Gen rising by 5.50% and 2.28% respectively.
The auto sector also saw further gains, with Peugeot and Renault rising by 2.66% and by 0.74% respectively.
Air France-KLM bucked the trend on the day, with a 2.89% loss, while Airbus SE rose by 3.49%.
On the VIX Index
A run of 4 consecutive days in the red came to an end on Tuesday, with the VIX rising by 0.84%. Partially reversing a 7.35% fall from Monday, the VIX ended the day at 33.6.