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Friday 16th June

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Eurozone Inflation Results, Mini Recessions and a Whopper IPO

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Eurozone inflation

Data showing the inflation rate across the Eurozone, as well as in some local countries like Italy, is set to be released today. Having been way over the targeted 2% for over a year now, the European Central Bank is anxious to get inflation back under control. Most of the forecasts suggest that the inflation rate is likely to be around the 6% mark. 

New Zealand’s recession

As countries around the world have been facing up to their economic figures for the past week, it’s not looked so rosy for the island nation of New Zealand. Their economy shrunk in the last quarter of 2022 and then again in the first quarter of this year, which officially put them into a recession. Their economy only shrunk by 0.1% so the market effect may be relatively small but could still see some political issues on the horizon.

Cava IPO

The US based Mediterranean restaurant chain, not to be confused with the sparkling wine, launched its IPO yesterday on the New York Stock Exchange. The company increased how much it expected each share to cost, along with the overall company value on Monday. It currently stands at an overall value of $2.45 billion, with each share costing around $22. It’s renowned for its fast and casual approach to dining. 

Sources: NASDAQ, CNBC, Reuters, Forbes Advisor

Zoe Burt