European stocks fell slightly in early deals on Wednesday on weaker-than-expected data on Germany, and investors are looking forward to tighter monetary policy from the European Central during its upcoming meetings, which will put pressure on the numbers. shares.
Data released today from Statistics Germany showed that the German industrial production index rose 0.7% in April, while the index was below the expected level of 1%, indicating the continued impact of the supply chain crisis and rising input prices on industrial efficiency. production in the country. Investors are focused on tomorrow’s European Central Bank meeting as the bank is expected to confirm its intention to raise interest rates next month after announcing the end of its bond buying program.
According to CNBC, Mark Wall, chief economist at Deutsche Bank, believes European Central is still underestimating inflation and expects bank board members to support a 50 basis point hike during summer meetings. The Stoxx Europe 600 index fell 0.13% to 442 points at 10:12 Beirut time, while the UK FTSE index settled at 7598 points. The German DAX index fell 0.15% to 14,536 points, while the French CAC index fell 0.24% to 6,484 points.
Source: El Iktisad
