Lack of clear direction for the markets on Monday

  •   06/07/2021 - 07h11
  •   HARMANT Adeline

This Monday, we are observing on all markets and particularly on the main European financial markets a development without a clear trend. The reason for this is the halt in activity across the Atlantic due to Independence Day.

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Lack of clear direction for the markets on Monday

The point on the weekly start of the European markets:

Thus and on the Euonext Paris market, the morning was rather negative with a slight downward trend that gradually gave way to stabilization. In Frankfurt, the market fell by 0.3% while in London, it gained 0.2%.

Among the publications that were the most followed by investors this morning was the composite PMI index, which marked its strongest growth in 15 years in the private sector of the euro zone for the month of June. In addition, the final composite index of overall activity in the euro zone came in at 59.5, compared with 57.1 in May and a flash estimate of 59.2. Finally, the final index of services activity in the euro zone came in at 58.3, compared with 55.2 in May and a flash estimate of 58.0.

This is the fourth consecutive monthly increase for the IHS Markit composite PMI for overall activity in June, but also the highest level reached by the index since June 2006.


This week's news releases:

Among the indicators and publications to watch this week are the industrial activity indicators with the German manufacturing orders as well as the industrial production indices in Spain, Germany, Italy and France.

The ZEW survey results for Germany will be released tomorrow and may cause some market reactions if the results are far from expectations as analysts say.

There are also several stocks to watch in the European market, including Nokia, which has just announced the activation of a live autonomous 5G SA network in Australia via the 700 MHz spectrum band, in partnership with TPG Telecom.

Daimler shares will also be worth keeping an eye on as its subsidiary Daimler Truck, in partnership with Traton Group and Volvo Group, will be installing and operating a high-performance public charging network for use in the Germany, Volkswagen has already announced that it will install and operate a high-performance public charging network for battery-electric trucks and long-distance buses throughout Europe, the company said in a statement this morning.

In Germany, Volkswagen has announced a new step in innovation with the launch of Over the Air software updates for ID models in the summer of 2021 via remote data transfer.

Finally, we will also follow the activity of the European aircraft manufacturer Airbus, which has announced that its space engineers have already completed the integration of the European Space Agency's or ESA's European robotic arm or ERA with the Russian multi-purpose laboratory module MLM.