欧元/瑞典克朗 (EURSEK) 加自选

2025年7月，意大利建筑业产出同比增长5.2%，低于上个月的5.7%。然而，这标志着该行业连续第七个月实现增长。经季节性调整的月度数据显示，7月份产出增长0.7%，扭转了前一个月0.1%的下降趋势。在过去的七个月里，建筑产量比去年同期增长了4.7%。

Construction output in Italy increased by 5.2% year-on-year in July 2025, slowing from a 5.7% gain in the previous month. Nevertheless, this marked the seventh consecutive month of growth in the sector. On a seasonally adjusted monthly basis, output rose by 0.7% in July, reversing a 0.1% fall in the preceding month. Over the past seven months, construction output grew by 4.7% compared to the same period last year.

德国10年期国债收益率攀升至2.75%，为9月2日以来的最高水平，此前一周因更大规模的债务发行计划和主要央行决策而波动。周四，德国金融机构宣布，第四季度的发行量将比其12月的预测增加150亿欧元，理由是基础设施和国防的支出需求增加。该机构负责人Tammo Diemer指出，投资者对德国国债的需求强劲，部分原因是法国持续的预算危机。与此同时，法国各地反对政府削减开支的抗议活动仍在继续，而意大利预计将在周五晚些时候获得惠誉的评级上调。在货币政策方面，日本央行保持利率不变，但表示将逐步退出其持有的ETF和REIT，这表明可能会比预期更早地转向减少货币刺激。本周早些时候，美联储自去年12月以来首次削减借贷成本，而英国央行则保持利率不变。

German 10-year Bund yields climbed toward 2.75%, their highest level since September 2, after a volatile week shaped by larger debt issuance plans and major central bank decisions. On Thursday, the German finance agency announced that Q4 issuance will increase by €15 billion compared with its December forecast, citing higher spending needs for infrastructure and defense. Agency head Tammo Diemer noted strong investor demand for Bunds, partly supported by France’s ongoing budget crisis. Meanwhile, protests continued across France in opposition to government spending cuts, while Italy is expected to receive a ratings upgrade from Fitch later on Friday. In monetary policy, the BoJ kept interest rates unchanged but signaled a gradual unwinding of its ETF and REIT holdings, suggesting a possible shift toward reducing monetary stimulus sooner than expected. Earlier this week, the Fed cut borrowing costs for the first time since December, while the BoE left rates unchanged.

CAC 40指数周五上涨0.6%，至7905点，连续第二周稳步上涨，因投资者评估了一波关键的货币政策决定。正如普遍预期的那样，日本央行保持利率稳定，但宣布计划逐步解除其持有的大量交易所交易基金，令市场感到意外。本周早些时候，美联储自2024年12月以来首次降息，而英格兰银行选择保持基准利率稳定。整个指数的广泛上涨进一步支撑了这一积极势头。Stellantis NV领涨CAC 40指数，在Berenberg将该股从“持有”上调至“买入”后，上涨3.5%至一个月高点。其他表现突出的公司包括雅高、空中客车、雷诺和安赛乐米塔尔，股价上涨1.5%至2.3%。在经济方面，法国9月份的商业环境指标稳定在96，低于其长期平均水平100。

The CAC 40 rose 0.6% to 7,905 on Friday, heading for its second consecutive week of solid gains as investors assessed a wave of key monetary policy decisions. The Bank of Japan held interest rates steady, as widely anticipated, but surprised markets by announcing plans to gradually unwind its substantial holdings of exchange-traded funds. Earlier in the week, the Federal Reserve lowered interest rates for the first time since December 2024, while the Bank of England opted to hold its benchmark rate steady. The positive momentum was further supported by broad-based gains across the index. Stellantis NV led the CAC 40, climbing 3.5% to a one-month high after Berenberg upgraded the stock to “Buy” from “Hold.” Other notable performers included Accor, Airbus, Renault, and ArcelorMittal, with shares advancing between 1.5% and 2.3%. On the economic front, France’s business climate indicator held steady at 96 in September, staying below its long-term average of 100.

欧盟50指数升至5481.00点，为2025年8月以来的最高点。在过去的4周里，欧元区股市指数（EU50）上涨了0.13%，在过去的12个月里，它上涨了12.48%。

EU50 increased to 5481.00 Index Points, the highest since August 2025. Over the past 4 weeks, Euro Area Stock Market Index (EU50) gained 0.13%, and in the last 12 months, it increased 12.48%.