Original title: [European Express] German data weakens again European stocks fall back the European Union may tighten restrictions on visitors to the United States
Source: FX168
European stock markets fell on Thursday, Aug. 26, under the influence of global market sentiment, while the Fed's monetary policy summit will be closely watched.
As of this release (17:20 Beijing time), the UK's FTSE 100th index, France's CAC index and Germany's DAX index fell by 0.5%, 0.45% and 0.63%, respectively. The pan-European Stoxx 600 index fell 0.3 per cent in early trading, with travel and leisure stocks down 1 per cent, while media stocks rose 0.3 per cent.
Asia-Pacific stock markets also fell on Thursday, with the Bank of Korea raising interest rates for the first time in nearly three years. In the United States, U. S. stock index futures fell slightly in pre-market trading after the S & P 500 closed at an all-time high on Wednesday.
The Fed's Jackson Hole seminar begins on Thursday, and markets will be watching Chairman Colin Powell's closing speech on Friday to see when the central bank may start to scale back its monetary stimulus program.
Philip Lane, chief economist of the European Central Bank, said on Wednesday that the spread of Delta could have a limited impact on the economy of the entire euro zone, which is expected to achieve a strong recovery by 2022 because of the generally high vaccination rate.
On the data side, German consumer confidence fell in September, with GfK's consumer confidence index falling to-1.2 from a revised-0.4 in August, below the-0.7 forecast by Reuters. Germany's IFO business sentiment index fell for the second month in a row on Wednesday, while German manufacturers complained about supply bottlenecks in manufacturing intermediates and concerns about a rise in COVID-19 infection, as new infections in Europe's largest market hit a three-month high, according to data released on Wednesday.
Business confidence in the UK is also falling, with more companies complaining about labour shortages than ever before, according to a quarterly labour market survey conducted by the Confederation of British Industry.
The bad news is not only that, but there are reports that the European Union may re-impose restrictions on tourists from the United States on Thursday, a move that will put heavy pressure on the tourism and leisure industry in Europe. After the European Union relaxed restrictions on American tourists earlier in the summer, the United States did not respond, which upset the European Union.
DWS Group, Deutsche Bank's asset management arm, is reportedly under investigation by US regulators for allegedly distorting its sustainable investment standards.
In terms of individual stocks, Vivendi, the French media group, rose 3 per cent, leading the Stoxx 600th index, after Universal Music expected strong revenue growth and dividends after its IPO.
Oil prices fell on Thursday, consolidating after the biggest three-day increase since March, as rising COVID-19 cases continued to threaten the recovery in global demand in the second half of the year. But the situation looks more promising in the US, where crude oil inventories fell for the third week in a row last week, while overall fuel demand rose to its highest level since March 2020, the EIA said on Wednesday.