![]() ![]() The dollar was steady in early European action. Read Sustainable Return to 2% Inflation Seen as a Precondition to Rate Cuts, Says Aramea "If there are signs of success by the end of the year, interest rate cuts in the first half of 2024 are realistic." ![]() The central banks are likely to be waiting to see to what extent the tightening that they have carried out so far has cooled demand and thus inflation, Aramea added. The Federal and the European Central Bank are likely to go into a "wait-and-see" mode from the summer, Aramea Asset Management said. house building sector has underperformed given inflation data and the Bank of England's response, with JPMorgan reiterating its cautious stance on the market. ![]() UBS's acquisition of Credit Suisse has changed its investment case for now, but the challenges facing the bank are known and it is well placed to quickly restructure, Deutsche Bank said. In Europe, Infineon and STMicroelectronics both rely on the minerals for some of their product lines which represent low single digits as a percentage of revenue. Read more.Ĭhina's export restrictions on gallium and germanium-critical minerals to the production of semiconductors-can be disruptive but manageable for the chip industry, Citi said. H&M's better-than-expected 2Q EBIT despite flattish local currency sales highlights very good cost control and puts it on track to make significant progress towards the 10% margin target by 2024, UBS said, lifting its price target to SEK187 from SEK143. jobs data, which might give clues on further interest-rate rises.Īdidas is only at the beginning of a multiyear turnaround story that will be helped by the Samba shoe's surging popularity and favorable margin dynamics, Berenberg said, which estimates the company could return to a 7.5% margin by the end of 2024. Momentum in the markets should return on Wednesday, as traders await the Federal Reserve minutes and then look to Friday's U.S. European stocks were little changed on Tuesday in subdued trading as the U.S. ![]()
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