Deutsche Bank AG

Ifo Institute Publishes Deteriorating Business Outlook for Germany

German March Services and Manufacturing PMI Preliminary Values to be Released

Eurozone Stock Futures Fall Collectively

Euro Stoxx 50 and German DAX Index Futures Down

German January Import Price Index Rises 1.1% MoM

Germany Q4 GDP adjusted for working days 同比增长终值为 0.4%

Euro Stoxx 50 and DAX Futures Decline, FTSE Futures Rise

Eurozone Investor Sentiment Rises to Seven-Month High

XDDX

The German Ministry of Transport will invest €1 billion over four years to enhance electric truck charging infrastructure. This initiative aims to support the transition to battery-electric commercial vehicles, promoting energy efficiency and reducing greenhouse gas emissions. Federal Transport Minister Patrick Schnieder emphasized the importance of heavy-duty road freight transport for Germany's economy while addressing climate goals. The funding will facilitate logistics companies in adopting electric trucks, contributing to cleaner air and reduced noise pollution. Germany plans to achieve 80% renewable electricity by 2030, phasing out coal entirely.

cleantechnica

€1 Billion To Be Invested In German Electric Truck Charging

L5EW

ECB's Lane stated that monetary policy decisions will be made on a meeting-by-meeting basis, influenced by incoming data on inflation, wages, growth, and financial markets. He highlighted that supply-driven energy shocks are negatively impacting euro area growth, with global shocks causing more significant damage than regional ones. Inflation risks are being monitored closely, particularly regarding wage growth and pricing behavior. The current economic environment is more contained than in 2022, but the ECB must remain vigilant against inflation expectations becoming unanchored.

- European Central Bank's Lane highlighted that supply-driven energy shocks could reduce Eurozone GDP growth by approximately 0.2–0.3 percentage points due to rising oil prices.  
- Lane emphasized that global energy shocks have a more destructive impact than regional shocks, leading to increased costs and stronger inflationary pressures.  
- He noted that the current economic environment differs from 2022, with softer inflation and wage pressure, while the ECB's policy response will rely on data regarding inflation persistence and broader economic indicators.

Investinglive

ETFS Capital Ltd.

SPDR EURO STOXX 50 ETF

Ossiam Euro STOXX 50 Equal Weight NR UCITS ETF -1C-EUR

Xtrackers DAX Income UCITS ETF

Global X DAX Germany ETF

ECBs Lane:Monetary policy decisions will continue to be made on a meeting-by-meeting basis

513080

European Central Bank member Olli Rehn indicated that data suggests the onset of stagflation due to the Iran war and rising energy prices. He noted slight growth in the euro area and inflation at 3%. While the current shock is less severe than in 2022, it deviates from the ECB's outlook. Policymakers are cautious about interest rate hikes, awaiting more data on the conflict's impact. Eurozone growth is expected to soften, with France reporting a rise in unemployment to 8.1%. Investors anticipate a rate increase in June, but officials remain hesitant to confirm.

- European Central Bank governing council member Olli Rehn warned of signs of stagflation due to the Iran conflict and rising energy prices.  
- He noted that eurozone growth for the first quarter was only slightly positive, with inflation accelerating to 3%, and emphasized that current shocks are not as severe as seen during the price surge in 2022.  
- Despite inflation surpassing the ECB's 2% target, policymakers remain cautious about interest rate hikes, waiting for further information on the wider impacts of the conflict.

Businesstimes News

Huaan France CAC40 ETF(QDII)

ECB’s Rehn says data show first signs of stagflationary shock

Germany's Federal Statistical Office announced that, driven by higher wholesale prices of energy products and raw materials amid the Iran conflict, Germany's Wholesale Price Index (WPI) growth accelerated to 6.3% YoY in April, the highest level since February 2023, compared with a prior increase of 4.1%. During the period, the WPI for mineral oil products rose 37.3% YoY, with a 12.7% MoM increase.Germany's WPI increased 2% MoM in April, above market expectations of a 1.7% rise. (da/u)

- The German Federal Statistical Office announced that the wholesale price index (WPI) rose to 6.3% year-on-year in April, the highest since February 2023, due to increased prices of energy products and raw materials resulting from the Iran conflict.  
- The previous increase was 4.1%, and mineral oil products saw a year-on-year rise of 37.3% and a month-on-month increase of 12.7%.  
- Additionally, the WPI increased by 2% month-on-month in April, exceeding market expectations of 1.7%.

AASTOCKS News

Germany Apr WPI +6.3% YoY, Highest in Over Three Years; Mineral Oil Products WPI +37.3%

German wholesale prices reached a three-year high, rising 6.3% in April due to a 37.3% increase in petroleum costs following the closure of the Strait of Hormuz. This surge is contributing to an inflation rate of 2.9% in Germany, which may exceed 3% in May as companies pass on higher energy costs to consumers. The ongoing Iran war is causing trade and transport disruptions, leading to increased costs globally and renewed cost-of-living pressures in Europe.

- Wholesale energy prices increased by 6.3% in April due to a 37.3% rise in petroleum costs after the closure of the Strait of Hormuz.  
- In Germany, inflation reached 2.9% in April and is expected to surpass 3% in May as companies transfer increased energy expenses to consumers.  
- The ongoing war in Iran is causing global trade and transport disruptions, contributing to rising costs and cost-of-living challenges in Europe.

German wholesale prices hit 3-year high on Iran war impact

ECB policymaker Nagel stated that the decision for a rate hike in June will depend on economic data, despite the market pricing in an 88% probability for a hike. He noted that while inflation has risen due to energy prices, economic activity is slowing, and the ECB's mandate requires action if inflation expectations de-anchor. There are expectations for three rate hikes by year-end, but the situation remains uncertain due to potential geopolitical developments affecting oil prices.

- The European Central Bank (ECB) is expected to raise interest rates in June, with two increases anticipated in its baseline scenario.  
- Despite signals for a rate hike unless the war ends and oil prices drop substantially, recent economic data does not strongly support the aggressive increases priced in by the market.  
- Currently, there is an 88% probability of a rate hike in June, though this is not absolute, as ongoing geopolitical issues could impact oil prices significantly.

ECB policymaker Nagel says data will decide ECB's decision in June

GY3S

ECB's Villeroy emphasizes the need for more data on core inflation before considering interest rate hikes. He expresses caution, noting that the ECB lacks sufficient information to justify immediate changes. Concerns focus on second-round effects from initial price shocks, with current data showing moderated core inflation and wage growth expectations. The ECB has indicated a potential rate hike in June, contingent on improvements in geopolitical tensions and oil prices.

- The European Central Bank's Villeroy emphasizes caution regarding interest rates while waiting for more data to justify a hike.  
- He is seeking clearer evidence that price pressures are spreading beyond volatile energy and food sectors, with concerns about second-round effects from initial price shocks.  
- Current economic data does not urgently call for a rate increase, as core inflation slows and inflation expectations rise only short-term, while wage growth forecasts have decreased.

ETFS 3x Daily Short DAX 30 (German Cert.)

ECB's Villeroy: We don't have enough information on core inflation yet

RITL

RITS

According to Eurostat, on a seasonally adjusted basis, Eurozone GDP in 1Q26 rose 0.1% QoQ (up 0.2% in 4Q25); and increased 0.8% YoY (up 1.3% in 4Q25). Both figures were unchanged from the preliminary estimates and in line with market expectations. (su/a) AASTOCKS Financial News

- In the first quarter of 2026, the Eurozone's GDP experienced a sequential increase of 0.1%.  
- Year-on-year, the GDP grew by 0.8%, reflecting a decline from 1.3% in the previous quarter.  
- These figures align with preliminary estimates and meet market expectations, according to data from Eurostat.

RBS Market Access SICAV - RBS Market Access Leveraged FTSE MIB Monthly Index ETF Capitalisation

RBS Market Access SICAV - RBS Market Access Short FTSE MIB Monthly Index ETF Capitalisation

Eurozone 1Q26 GDP Rises 0.1% QoQ, In Line

SIEGY

European stocks are recovering as investors anticipate President Trump's meeting with Chinese leader Xi Jinping, focusing on trade and geopolitical issues. The FTSE 100, CAC 40, and DAX are all in positive territory. Meanwhile, U.S. inflation data suggests no imminent rate cuts from the Federal Reserve. Oil demand is expected to contract significantly due to geopolitical tensions, particularly around the Strait of Hormuz. Gold prices have rebounded amid strong central bank demand, despite rising U.S. bond yields. Siemens has announced a new $7 billion share buyback program.

MorningStar

Siemens AG

Siemens

VanEck Gold Miners ETF

SPDR Gold Shares

Jefferies Financial

Lazard

S&P 500

HSBC Holdings Plc

HSBC

ING Groep

HSBC 5xShortSG241213

HSBC HOLDINGS

European Midday Briefing: Stocks Recover; Focus Turns to Trump-Xi Meeting

Euro area Q1 GDP confirmed at 0.1% Q/Q, the weakest in nine quarters, with industrial output falling 0.9% Q/Q, the sharpest drop in two years. Employment growth slowed to 0.1% Q/Q, with Germany and France facing significant job losses. Consumer confidence is declining, leading to expectations of reduced household spending and further economic pressure in Q2. The ECB may need to maintain an accommodative stance due to these economic challenges, particularly in France and Germany, which heavily influence euro area demand.

- The Eurozone's GDP confirmed a 0.1% quarter-on-quarter growth for the first quarter, marking one of the weakest expansions in over two years.  
- Industrial production declined sharply by 0.9%, primarily due to weak energy output and a significant drop in non-durable goods, while employment growth slowed notably to just 0.1%.  
- Consumer confidence is declining, and businesses plan to cut jobs at the fastest rate in five years, suggesting further demand-side pressures and potentially negative impacts on GDP growth in the upcoming quarter.

Deutsche Bank AG(XDDX.DE)

€1 Billion To Be Invested In German Electric Truck Charging

ECBs Lane:Monetary policy decisions will continue to be made on a meeting-by-meeting basis

ECB’s Rehn says data show first signs of stagflationary shock

Germany Apr WPI +6.3% YoY, Highest in Over Three Years; Mineral Oil Products WPI +37.3%

German wholesale prices hit 3-year high on Iran war impact