Newscasts - Europe Markets Briefing: European shares edge higher amid French political uncertainty
06/12/2024 16:00
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_wr0tzx2o&referenceId=1_wr0tzx2o&pageId=Newscasts Source: 'Reuters - Business videos' Description: European markets traded slightly higher on Friday, as investors in the region reviewed the latest political developments in France. Short Link: https://refini.tv/4gk5e4e Video Transcript: European shares edged higher amid French political uncertainty. Welcome to your Europe Markets Briefing. I'm Ludovica Brignola. European markets were slightly higher on Friday as investors in the region reviewed the latest political developments in France and they were still digesting a vote that toppled French Prime Minister Michel Bernier's minority government on Wednesday evening. A motion backed by both left and right leaning lawmakers after Barnier forced his contested budget through parliament without a vote. French bond deals were slightly down today. Let's take a look at next week now and it's shaping up to be an important week on the data front. First of all, all lives will be on the ECB's rate decision on Thursday. The ECB deposit rate is expected to be cut to 3% from 3.25%, with the ECB refinancing rate moving to 3.15%. And in the lead up to that focus will be on the Sentix index for the Eurozone out on Monday. Business sentiment is expected to sour further going to -13.5 in December from an already low -12.8. Final November CPI for Germany will also be out on Tuesday and world's economy is expected to confirm a previous reading of 2.2% for November. Let's take a look at the United Kingdom now as housing data for October will be out on Thursday, the RICS survey will be out to shed some more light on the housing market after this week. The Halifax house price survey showed that house prices in the UK surged a lot more than expected in November, although Halifax warned that affordability challenges for buyers remain. Interest rates have come down with the possibility, perhaps of more. There's competition between mortgage lenders. Unemployment is still near historic lows and wage growth is still outpacing inflation. So, in that respect, they're all pretty good on the potential warning side, while that 4.8% year on year growth in house prices is starting to give wage growth a run for its money. And on the earnings front, the also listed owner of the Pepco Poundland and Dealz brands, whose performance has been impacted by supply chain disruptions, reports full year results next week with the focus on the outlook for the key Christmas period. And equipment rental firm Ashtead is expected to post lower half year earnings amid soft used equipment sales and rental revenue growth slowdown in the US, its biggest market. And that is your Europe Markets Briefing