- European indices are changing direction again, amid expectations of a resolution to the conflict in Iran. Most of the major benchmarks on the Old Continent are posting moderate losses. Germany’s DAX (-0.7%) is leading the declines, while IBEX and AEX are performing relatively well, up around 0.1%.
- German inflation data have been released. Inflation as measured by the European HICP came in at 2.0% year-on-year and 0.4% month-on-month. CPI according to the Federal Statistical Office was 1.9% year-on-year and 0.2% month-on-month. Both readings were in line with market expectations.
- Germany’s Rheinmetall reported its 2025 results. Despite strong revenue growth (€9.9 billion, up 29%), a solid improvement in margins (up to 18.5%), and optimistic guidance (expected 2026 sales of €14 billion), it was not enough to meet market expectations. The company’s shares are down about 5% following the results.
- Porsche’s CEO indicates the company may face another round of job cuts. The company is also considering introducing new models in segments aimed at boosting profits.
- The International Energy Agency is increasingly seriously considering releasing part of its oil reserves. WSJ journalists report that decision-makers they reached note that the volume released could be larger than the 182 million barrels released in 2022.
- Oracle reported results that beat market expectations; the stock is up nearly 9% in pre-market trading. Revenue rose to $17.19 billion and EPS reached $1.79. The strongest revenue growth came from the cloud segment, up as much as 44%.
- Markets are awaiting U.S. consumer inflation (CPI) data. The consensus expects year-on-year inflation to remain at 2.4% and the monthly reading to rise from 0.2% to 0.3%.
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