October 22, 2020

earnings and euro area GDP in focus

European equities are seen opening higher in the last trading session of the month.

The FTSE 100 is seen up by 22 points, the DAX 30 is expected to open up by 18 points, and the CAC 40 is set to open higher by 13 points.

Market players are monitoring earnings as well as flash gross domestic product (GDP) numbers around Europe. Air France-KLM and International Consolidated Airlines Group are updating investors, shedding light about how one of the hardest hit sectors from the pandemic is coping. Swiss Re, Nokia, Amundi and NatWest are also updating the markets.

BNP Paribas reported a net income drop of about 7% for the second quarter in comparison with the same period a year ago. However, the French bank experienced higher trading volumes and beat market expectations.

Also in France, the statistics office said GDP fell by 13.8% in the second quarter of the year, slightly better than estimates. On Thursday, the German statistics office announced the German economy contracted by 10.1% in the second quarter — the worst reading since records began in 1970.

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