French S&P Global Composite PMI Flash (Jun) 47.6 vs exp. 46.0 (prev. 44.9)

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EUROPEAN OPEN: Tech stocks slide; BNZL LN upgrades revenue outlook on North America volumes; P911 GY streamlines lineup, to deepen VOW3 GY cooperation; RWE GY raises EUR 4bln for Amprion stake; SAN FP’s Wayrilz approved in Japan

US-Iran technical talks in Burgenstock had a "breakthrough", talks proceed seemingly in a positive direction, Journalist Mallick reports

French S&P Global Composite PMI Flash (Jun) 47.6 vs exp. 46.0 (prev. 44.9)

Swiss current account surplus CHF 16bln in Q1 2026 (CHF -11bln Y/Y), SNB data shows

European Movers: Bunzl (BNZL LN) +1.8%, Michelin (ML FP) -2.0%, Hermes (RMS FP) -2.1%, STOXX 600 Basic Resources -3.0%, STOXX 600 Technology -2.4%, ASML (ASML NA) -3.8%, STMicroelectronics (STMPA FP) -5.4%

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  • That said, softer readings in the PMI survey's pricing measures, which follow on from the fall in global oil prices over this past month, could signal that peak inflation is behind us and the disinflationary process is underway.
  • Turning to prices, the latest survey figures indicated a cooling of cost pressures – the first such occurrence since February.

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