Current developments on European stock markets and outlook for the coming week: financial expert analyses

Current developments on European stock markets and outlook for the coming week: financial expert analyses

According to a report from ch.marketscreener.com, major European stock markets are forecast to open higher on Monday, while in the US stock markets will remain closed for Martin Luther King Day. The World Economic Forum begins in Davos on the Old Continent, where leading representatives from politics and business will discuss important economic and geopolitical issues. The conflict in Gaza and attacks in Yemen are causing uncertainty but are being offset by "increasing global supply, increasing competition for OPEC and the weak global economic outlook," according to Swissquote Bank senior analyst Ipek Ozkardeskaya.

The UK economy is in focus after November's GDP data came in better than expected, raising the prospect that the economy avoided a technical recession at the end of last year. Coming November wage and unemployment figures are expected, along with December consumer price index and retail sales figures, all of which have the potential to influence the timing of an initial interest rate cut by the Bank of England.

Banca Generali recorded inflows of EUR 834 million in December, bringing the figure for the full year to EUR 5.86 billion, an increase of 3% compared to the previous year. In contrast, Nanoco Group PLC reported a collaboration with STMicroelectronics and closed down 0.5 percent. Terna announced that it has successfully issued a bond worth EUR 850 million, while Azimut Holding expects to end 2023 with an adjusted net profit of between EUR 445 and 455 million.

PharmaNutra's preliminary sales figures for the 2023 financial year increased by 21% compared to the previous year. The Safilo Group early extended its eyewear license agreement with Hugo Boss for the Hugo and Boss collections until December 2030.

Overall, the forecasts point to a positive market environment in Europe, with a focus on the UK economy and potential for changes in the financial sector, particularly with regard to the Bank of England.