Economic data and business results at a glance
It was a particularly bullish day for the European majors on Thursday.
The DAX30 rebounded 1.40%, with the CAC40 and EuroStoxx600 ending the day up 1.33% and 1.24% respectively.
Eurozone economic data was lighter, leaving US and corporate earnings statistics in the lead.
The rise came despite lingering concerns about inflation, with expectations of another strong earnings season drawing investors in.
Before the European opening up, inflation figures in China did not weigh on risk sentiment. While the annual inflation rate weakened from 0.8% to 0.7%, the annual wholesale inflation rate accelerated from 9.5% to 10.7%.
The final inflation figures for Spain had a moderate impact on the majors.
In September, Spain’s annual inflation rate fell from 3.3% to 4.0%, which is in line with preliminary figures. The Harmonized Consumer Price Index increased 4.0% year-on-year, which is also in line with preliminary figures. In August, the harmonized consumer price index rose 3.3%.
The United States
September’s wholesale inflation and jobless claims numbers were the key statistics of the day.
In September, the annual wholesale price inflation rate fell from 8.3% to 7.6%, with core wholesale inflation falling from 6.7% to 6.8%.
In the week ending 8the In October, the first jobless claims fell from 329,000 to 293,000, a first drop to less than $ 300,000 since the start of the pandemic.
For the DAX: It was a bullish day for the auto sector on Thursday. Daimler rebounded 1.95% to lead the way, with Volkswagen up 1.49%. Bmw and Continental ended the day with more modest gains of 0.70% and 0.16% respectively.
It was also a bullish day for the banks, however. German Bank and Commercial bank increased by 1.33% and 0.27% respectively.
From CAC, it was a bullish day for the banks. Gen Soc recovered by 1.20%, with BNP Paribas and Agricultural credit ending the day up 0.48% and 0.30% respectively.
It was, however, a mixed day for the French automotive sector. Stellantis SA recovered by 2.03%, while Renault decreased by 0.25%.
Air France-KLM and Airbus SE ended the day up 0.10% and 0.91% respectively.
On the VIX index
It was a third straight day in the red for the VIX on Thursday, marking a drop of 7 from the 8 sessions.
After falling 6.10% on Wednesday, the VIX fell 9.55% to end the day at 16.86.
The Dow Jones rose 1.56%, with the NASDAQ and the S & P500 rebounding 1.73% and 1.71% respectively.