Quarterly Stats and ECB Interest Rate Decision Cause Great Interest in Equity Markets
Investors prepare for a week full of quarterly statistics from the three publicly traded companies. Health-care technology group Philips, oil and gas group Shell and food company Unilever have all started trading. Investors are gearing up for a week of quarterly earnings releases from three publicly traded companies. Healthcare technology group Philips, oil and gas company Shell and food group Unilever, among others, will release books. A new interest rate decision by the European Central Bank (ECB) on Thursday is also on the agenda.
At Philips, investors focus on: Recall of millions of sleep apnea devices It’s an initiative the company has been working on for the past two years. Most of the 5.5 million total devices have been replaced. Philips has set aside hundreds of millions of euros for this campaign. The company just last week reported that about 530 Americans had filed personal injury claims based on health complaints. About 400 cases were still involved when the first quarter results were released.
Shell had already teased its books when it provided a deal update in early July. This indicates that this oil and gas company produced less oil and gas in the second quarter than he did in the first three months of the year. Shell also said it expects gas trading revenues to be significantly lower than in the first quarter. This is partly due to seasonal effects.
Several big tech companies will also release second-quarter results on the U.S. stock exchange this week. These include Microsoft, Google parent company Alphabet, Facebook and Instagram metaplatform parent companies. Both companies have recently focused on developing artificial intelligence (AI) applications. For example, Microsoft has integrated AI into its own Bing search engine. Later, Google launched its own similar system called Bard.
In addition to business data, investors and analysts are also watching the ECB’s new interest rate decision. ECB President Christine Lagarde announced a month ago that it would raise interest rates further to combat high inflation. The June interest rate decision called for a quarter percentage point increase. Financial markets are hoping for such a move again.
However, the rate hikes have recently been criticized by several European countries. Critics say they only hurt the economy and don’t really help fight inflation.
https://nltimes.nl/2023/07/23/quarterly-figures-ecb-interest-rate-decision-spark-great-interest-stock-markets Quarterly Stats and ECB Interest Rate Decision Cause Great Interest in Equity Markets