In a day of mixed results, European stock markets exhibited a varied performance on Friday, with the Stoxx Europe 600 dipping by 0.11%. Germany’s DAX experienced a decline of 0.25%, while the FTSE 100 in London made a notable gain of 0.61%. The French CAC 40 showed a slight increase of 0.11%, and the Swiss Market Index saw an uplift of 0.36%.
In Germany, the provisional annual inflation rate for February stands at 2.3%, marking a decrease from the previous month’s rate of 2.6%. Core inflation, which factors out volatile items such as food and energy, is projected to be at 2.6%, while the month-over-month inflation is estimated to be 0.4%.
This slight decline in inflation reflects emerging economic adjustments that could impact future monetary policy. France anticipates a significant shift in its inflation landscape, expecting an annual rate of just 0.8% for February, down from January's rate of 1.7%. This marks a significant milestone as it is the first instance in four years where the annual inflation rate has fallen below 1%.
Month-on-month, inflation is expected to remain stable following a prior increase of 0.2% in January, pointing to a potential easing of price pressures in the French economy. Across the Channel, in the UK property market, there has been a 3.9% increase in the average house price to £270,493 ($340,427) compared to the same month last year, according to data released by the Nationwide House Price Index.
This uptick indicates a resilient housing market despite broader economic pressures. In corporate news, Teleperformance shares fell sharply, dropping 7.5% in Paris after the French business process outsourcing giant expressed expectations of flat EBITA margins with a modest increase of up to 0.1% for 2025.
This outlook has raised concerns among investors regarding future profitability. On a more positive note, Moderna announced that it has received marketing authorization from the UK's Medicines and Healthcare products Regulatory Agency for mRESVIA, its vaccine aimed at combating respiratory syncytial virus in adults aged 60 and above.
This development could have substantial implications for public health, particularly among vulnerable populations. Belgian biopharmaceutical company Argenx has reported a remarkable quarter four sales figure of $737 million, reflecting a 29% increase quarter-over-quarter. This growth has been fueled by a rising adoption of Vyvgart, demonstrating an expanding market presence.
Oppenheimer commented positively on this trajectory in a note to clients on Friday, highlighting the strategic depth and breadth of prescriber engagement driving these sales..