Manufacture of steel rails.

Industrial turnover and new orders rebounds strongly in Italy

Encouraging figures out from Italy’s Istituto Nazionale di Statistica showed that the industrial turnover index grew 41.9% in May, while new orders increased 42.2%. This was the first time either of the indices tracking industrial production increased since January. Breaking down the turnover index into home and abroad sales, domestic sales increased by 45.7%, while

Sewing fabrics for Italian sofas

Italian stocks lead Europe higher as industrial production rises 42%

At the time of writing, Italian stocks are leading European benchmarks higher rising by 1.1% to 19722.09, as industrial output came in well ahead of forecasts for the month of May rising by 42.1% versus consensus expectations for 22.8%. In April, Italian industrial output fell by 20.5% on the prior month, while in March the

European Commission headquarters

Gloomy European Commission drives European benchmarks lower

European Commission research published today warned of a ‘deep recession’ this year as a result of the pandemic, which led to impositions of movement restrictions across the continent beginning in February/March stifling economic activity. The FTSE 100 fell by 1.53% as investors digested a more dire assessment of growth prospects than initially predicted in the

Spanish services sector is expanding again shows PMI

IHS Markit’s Spanish services PMI posted a remarkable turnaround from May’s reading of 27.9 by reporting 50.2 for the month of June. Although only marginally above the no-change threshold of 50, this was well ahead of consensus expectations for a print of 45.9. Driving today’s dramatic rise was a reported increase in new business volumes

French & Italian consumer confidence beats consensus estimates

Figures released today showed Italian consumer confidence rose 6.3 points to 100.6, whilst French consumer confidence also rose by 2 points to 97. The Italian number was driven by consumers’ improved assessment of the current economic climate and the French reading by a jump in intentions to make a major purchase over the next twelve

Germany’s R number ratchets higher as second-wave fears breeds angst

The FTSE 100 closed 0.76% down today, as news emerged over the weekend that Germany’s R number had surged from 1.79 to 2.88 renewed fears over a second wave of Covid-19 infections. Statistical uncertainty means the actual reading (as per the 95% confidence intervals) could be as high as 3.73. In light of the praise

ECB expands PEPP by €600 billion

On Thursday, the European Central Bank announced they would support their PEPP (Pandemic Emergency Purchase Programme) with an extra €600 billion, beating most analysts’ expectations of €500 billion, taking the bond-buying stimulus package to €1.35 trillion in total. It was also mentioned the scheme would be extended to June 2021 and interest rates would be