CAC 40 Outperforms the European Indices
European indices trading higher today as the Wall Street indices register record high yesterday. Investor’s attention turns to US PPI data later today. As of writing the DAX 30 is 0.09 percent higher at 12,343, the CAC 40 in Paris is 0.65 percent higher at 5,587 after EU Industrial production came in at 0.9% month over month strongly beating the expectations of 0.2% in May and after dropping by 0.4% in April, On year over year basis, the factory output shrunk by 0.5% in May versus forecasts of -1.6%. The main increase came from capital goods that came in at +1.3% month over month. Daimler 2Q 2019 results were much worse than expected in connection with Takata airbags (€1bn provision), an increased €1.6bn cost related to court proceedings, while the Diesel engines and the MercVans division took a €500m restructuring charge.
In London the FTSE 100 is 0.28 percent higher at 7,530, yesterday in its Financial Stability Report (FSR), the Bank of England warns of the risks of a no-deal Brexit and global financial vulnerabilities.
In Wall Street, the futures trading higher, the Dow futures are 0.27 percent higher at 27,149 while the S&P futures are 0.18 percent higher at 3,009, signaling a positive start for U.S. equities. Equity traders will focus on Q2 earnings, starting MondayDon’t miss a beat! Follow us on Twitter.