Market Information Wednesday 30 October 2024

European markets closed lower on Tuesday after processing numerous corporate results. The STOXX Europe 600 index fell by 0.6%, while the German DAX lost 0.3% and the French CAC 40 declined by 0.6%. Investors are still awaiting the results of major American tech giants. Microsoft and Meta will report results today, and Apple and Amazon on Thursday. Meanwhile, tensions in the Middle East appear to be easing, contributing to lower oil prices.

In October, consumer confidence in the US saw a strong increase, as shown by Tuesday’s figures from The Conference Board. The index rose from 99.2 in September to 108.7, the highest level in nine months. An index of 99.5 was expected for October. The outlook for economic expectations in the coming half-year increased from 81.7 to 89.1. This kept the index above 80 for the third consecutive month. The Conference Board considers a score below 80 to be a possible recession signal within a year.

China is considering issuing over 10 trillion yuan in debt, equivalent to 1.4 trillion dollars, to stimulate its economy. This has been reported by Reuters based on sources. The Standing Committee of the National People’s Congress intends to approve this plan during their meeting in early November. The total amount, which will support local governments, corresponds to more than 8% of China’s GDP.

The 6M Euribor increased with 2 basis points to 2.91% compared to previous business day. The 10Y Swap is unchanged at 2.40% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.