European Equities: Can the Bulls End April on a High？

Economic Calendar:Monday, 29th April

经济日历：4月29日星期一

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Tuesday, 30th April

4月30日星期二

French GDP (QoQ) (Q1) 1st Estimate

法国GDP（QoQ）（Q1）第一次估算

GfK German Consumer Climate (May)

GfK德国消费者气候（五月）

French Consumer Spending (MoM) (Mar)

法国消费者支出（环比）（3月）

Spanish GDP (QoQ) (Q1)

西班牙GDP（环比）（Q1）

German Unemployment Change (Apr)

德国失业率变化（4月） ）

German Unemployment Rate (Apr)

德国失业率（4月）

Italian CPI (MoM) (Apr)

意大利CPI（环比）（4月）

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Eurozone GDP q/q (Q1) 1st Estimate / Eurozone GDP y/y (Q1) 1st Estimate

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Eurozone Unemployment Rate (Mar)

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German CPI (MoM) (Apr)

德国CPI（MoM）（4月）

Wednesday, 1st May

5月1日星期三

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Thursday, 2nd May

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German Retail Sales (MoM) (Mar)

德国零售销售额（月比）（3月）

Spanish Manufacturing PMI (Apr)

西班牙制造业采购经理人指数（4月）

Italian Manufacturing PMI (Apr)

意大利制造业PMI（4月）

French Manufacturing PMI (Apr) Final

法国制造业PMI（4月）决赛

German Manufacturing PMI (Apr) Final

德国制造业PMI（4月）决赛

Eurozone Manufacturing PMI (Apr) Final

欧元区制造业PMI（4月）决赛

Friday, 3rd May

5月3日星期五

Eurozone Core CPI (YoY) (Apr) Prelim

欧元区核心CPI（同比） （4月）Prelim

Eurozone CPI (YoY) (Apr) Prelim

欧元区CPI（同比）（4月）Prelim

The Majors

专业

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It was a mixed week for the European majors last week. While the DAX and EuroStoxx600 gained 0.76% and 0.14% respectively, the CAC ended the week down 0.2%.

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The CACs losses came in spite of a 0.21% gain on Friday, with the European majors resuming the upward trend following a mid-week blip.

CAC的跌幅尽管周五上涨0.21％，欧洲主要市场在周中昙花一现之后恢复上升趋势。

Economic data out of the Eurozone was limited to French jobseeker figures that had a muted impact on the majors.

欧元区经济数据仅限于法国求职者数据，这些数据对专业的影响较小。 p>

The focus through the European session was on corporate earnings. Out of Germany, all eyes were on Deutsche Bank earnings results. Results were due out in the wake of Thursdays announcement that merger talks with Commerzbank would cease.

欧洲会议的重点是企业收益。在德国之外，所有的目光都集中在德意志银行的盈利结果上。在周四宣布与德国商业银行的合并谈判将停止后，结果即将公布。

While net profit came in well ahead of forecasts, disappointing revenue numbers and a negative revenue outlook weighed. Deutsche Bank ended the day down 2.39%, the slide coming off the back of a 1.25% fall on Thursday.

虽然净利润远远超出预期，但收入数据令人失望，收入前景不利。 。德意志银行当天收盘下跌2.39％，周四跌幅为1.25％。

The auto sector was also in the spotlight as Daimler released its earnings results. A slide in earnings was attributed to production bottlenecks, slower demand from China and slowing global economy. Daimler gained 0.8% on Friday, however. Support came from its outlook for 2019, where growth is anticipated in unit sales, revenue, and earnings.

汽车行业w随着戴姆勒发布盈利结果，这也引人注目。盈利下滑归因于生产瓶颈，中国需求放缓以及全球经济放缓。然而，戴姆勒上周五上涨0.8％。支持来自2019年的预期，预计单位销售额，收入和收益将有所增长。

From the U.S, support came from economic data, which included a better than expected 1st quarter GDP estimate of 3.2%.

来自美国的经济数据得到支持，包括好于预期第一季度国内生产总值估计为3.2％。

While the headline number was impressive, a slide in consumption and investment continued to support the prospect of a FED rate cut later in the year, which was positive for riskier assets.

虽然标题数字令人印象深刻，但消费和投资的下滑继续支持今年晚些时候美联储降息的前景，风险较高的资产是积极的。

The Day Ahead

未来一天

There are no material stats scheduled for release out of the Eurozone. With a lack of key stats, we can expect Eurozone business confidence figures to have an impact in the early part of the day.

没有重要的统计数据计划从欧元区发布。由于缺乏关键数据，我们可以预期欧元区商业信心数据将在当天早些时候产生影响。

Disappointing consumer confidence figures weighed last week. Anything in line with or worse than forecasts today could hit the majors in the early part of the session.

令人失望的消费者信心数据在上周受到打压。任何与今天预测相符甚至更糟的事情都可能会在会议初期受到影响。

From across the Pond, Alphabet Inc. earnings will be the headline release of the day, with no headline earnings results due out of the EU.

来自整个池塘，Alphabet Inc.的收益将成为该公司的头条新闻。当天，欧盟未公布整体盈利结果。

On the data front, expect risk appetite to be influenced by the FEDs preferred Core PCE Price Index and personal spending numbers later this afternoon.

在数据方面，预计风险偏好会受到美联储首选核心PCE价格指数及个人消费数据的影响今天下午。{/}

At the time of writing, the futures were pointing to a positive open. The DAX30 was up 34.5 points, with the CAC40 was pointing to a 16 point rise at the open.

在撰写本文时，期货指向一个积极的开放。 DAX30上涨34.5点，CAC40指向开盘时上涨16点。

In spite of the U.S futures being in the red, support also came from a bounce in the Hang Seng and CSI300 ahead of the open

尽管美国期货处于亏损状态，但支撑也来自于在开盘前反弹恒生指数和沪深300指数