S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Nomura analysts note that April Euro area PMIs point to stagflation risks as activity softens while price indices jump to highs last seen in 2022/23. The Euro area composite PMI fell below 50, driven by weaker services, while manufacturing showed resilience, with firms apparently advancing purchases as they brace for Iran war-related supply and energy shocks.
Stagflation fears as prices accelerate
“European PMIs for April highlight stagflation risks, with price indices rising across the board to levels not seen since 2022/23.”
“Euro area PMI output indices generally revealed weakening activity; however, the manufacturing industry was surprisingly resilient.”
“Most concerning in the April data were large moves higher in price PMIs across Europe, related to higher energy prices from the Iran war.”
“There was a 3.2pt rise in the euro area composite PMI output price index to 57.0 (its highest since early 2023) and a 3.1pt increase in the composite PMI input price index to 68.4, with larger rises in the manufacturing PMI price indices than the services PMI price indices.”
“The moves higher in output price indices are larger than occurred in March, suggesting businesses are passing higher costs on to customers more.”
