Europe with a trend of modest growth, CEZ can be volatile
According to indications, European stocks are opening with a tendency to grow slightly. Wall Street managed to strengthen strongly on Friday, the SP500 index jumping + 3% above 3912 points. Currently, overseas futures are consolidating near this level. Asia also managed to follow the improved sentiment overnight, led by Chinese technology (+ 1.5%). This week is one of the pro-growth factors in the quarterly rebalancing of big money, at the same time the first half of the year will end. From macro data, we will monitor Wednesday’s GDP from the US and Friday’s inflation data from the Eurozone. Despite negative news on gas supplies from Russia, we will monitor whether the banking sector confirmed a sign of improvement last weekend. In addition to banks, increased volatility in CEZ continues in Prague. The Pirate Party is proposing higher taxes for energy companies (3 25% alternatives to the tax), this is the first big signal and the government coalition wants to discuss it (the ODS is still opposed).
Pavel Hadroušek, broker, Fio banka, as