In This Article:
Economic Calendar:
Wednesday, 15th April
French CPI (MoM) (Mar) Final
French HICP (MoM) (Mar) Final
Spanish CPI (YoY) (Mar) Final
Spanish HICP (YoY) (Mar) Final
Italian CPI (MoM) (Mar) Final
Thursday, 16th April
German CPI (MoM) (Mar) Final
Eurozone Industrial Production (MoM) (Feb)
Friday, 17th April
Eurozone Core CPI (YoY) (Mar)
Eurozone CPI (MoM) (Mar) Final
Eurozone CPI (YoY) (Mar) Final
The Majors
The European markets were closed on Easter Monday, following a bullish end to the week prior.
While the European markets were closed, the U.S majors had a mixed start to the week. Bucking the trend on the day was the NASDAQ, which managed to eke out a 0.48% gain. The Dow and S&P500 fell by 1.39% and by 1.01% respectively.
Concerns over the effects of the coronavirus on the U.S and global economy weighed. This remains a key factor near-term and, while a slower spread of the virus is market positive, the extent of the economic impact remains an unknown.
With earnings season kicking off this week, there’s certainly plenty for the markets to fret about…
The Stats
It was a quiet day on the Eurozone economic calendar on Monday, with no material stats released due to the public holiday.
From the U.S, it was also a quiet day following Friday’s market close, with no material stats to influence.
The Market Movers
The European markets were closed on Friday and Monday. The below represents Thursday’s moves.
For the DAX: It was another bullish day for the auto sector on Thursday. Continental, Daimler, and Volkswagen led the way, with gains of 4.85%, 5.29%, and 4.77% respectively. BMW saw a more modest rise of 3.36%.
It was also a bullish day for the banks, with Commerzbank and Deutsche Bank rising by 1.19% and by 1.98% respectively.
Deutsche Lufthansa gained just 0.20% on the day, with the airline industry now in search of government funding…
From the CAC, it was a bullish day for the banks. BNP Paribas rallied by 5.38%, with Credit Agricole and Soc Gen rising by 3.84% and 2.99% respectively.
The auto sector saw more modest gains on the day, however, with Peugeot and Renault gaining 0.64% and 0.82% respectively.
Air France-KLM also saw red once more, however, falling by 0.30%, while Airbus SE continued its recovery with a 1.99% gain on the day.
On the VIX Index
The VIX saw red for a 3rd consecutive day on Monday. Following on from a 3.88% decline on Thursday, the VIX fell by 1.20% to end the day at 41.2. It had been a public holiday in the U.S on Friday.
The downside came in spite of S&P500 joining the Dow in the red with a 1.01% fall on Monday.