S&P Global Data Shows Eurozone Downturn Deepening, Q2 Contraction Expected
SPGI is trading near its 52-week low of $381.605 (9.3% above the low).
Summary
S&P Global's flash survey data indicates a deepening downturn in the Eurozone private sector in May, with the composite output index falling to 47.5, below expectations. This data, released by S&P Global's Market Intelligence division, points to a challenging economic environment for the company's core businesses. A contracting Eurozone economy, with rising cost pressures and weakening business confidence, could negatively impact S&P Global's Ratings division and its Market Intelligence segment. SPGI's own economist predicts a 0.2% contraction for the Eurozone in Q2.
At the time of this announcement, SPGI was trading at $417.10 on NYSE in the Finance sector, with a market capitalization of approximately $123.4B. The 52-week trading range was $381.61 to $579.05. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.