欧元/英镑 (EURGBP) 加自选

英国央行本周可能放缓降息周期。英格兰银行周四似乎可能会保持利率不变，自去年开始放松政策以来首次放缓降息步伐，尽管一些分析师现在确实预计，在通胀和工资数据疲软后，利率会下降。

Bank of England likely to slow rate-cut cycle this week.The Bank of England looks likely to keep interest rates on hold on Thursday, slowing its pace of cuts for the first time since it started to loosen policy last year, although some analysts do now expect a reduction after softer inflation and wage data.

英国经济预测：通胀降温，降息迫在眉睫。Pantheon Macroeconomics英国预测：通胀疲软使12月降息成为增长弹性，Pantheon宏观经济学的英国经济学家预计，英国经济第三季度将增长0.2%，理由是企业活动数据和情绪改善。该公司表示：“GDP和零售额的表现好于预期。”。

UK Economic Forecasts: Rate Cut Looms as Inflation Cools.Pantheon Macroeconomics UK Forecast: Softer Inflation Brings December Rate Cut into View Growth Resilient, Inflation Softens UK economists at Pantheon Macroeconomics expect the UK economy to grow 0.2% in Q3, citing firm activity data and improving sentiment. “GDP and retail sales have held up better than feared,” the firm said.

受联合圣保罗银行疲软业绩的压力，富时MIB指数周五小幅下跌至43175点。该银行公布2025年第三季度利润为23.7亿欧元，与去年同期基本持平后，该股下跌2.2%。尽管利润略高于预期，但营业收入下降了2.3%。意大利电信下跌2.3%，有报道称伊利亚特集团和CK和记黄埔正在考虑在意大利进行潜在合并，这将使市场减少到三大供应商。公用事业板块表现不佳，Enel下跌0.3%，Hera下跌1.9%，Terna下跌0.5%，Snam下跌0.6%。从好的方面来看，普睿司曼在第三季度业绩强劲后上调了2025年全年预期，收入同比增长9.2%，高于预期。Interpump上涨4.3%，此前Equita将其评级从“持有”上调至“买入”，预计其第三季度预览将恢复正的有机增长。联合信贷银行（UniCredit）股价上涨1.4%，此前该行将其在希腊阿尔法银行（Alpha Bank）的持股比例提高至约29.5%。

The FTSE MIB edged down to close at 43,175 on Friday, pressured by weak results from Intesa Sanpaolo. The stock lost 2.2% after the bank reported a Q3 2025 profit of EUR 2.37 billion, virtually unchanged from a year earlier. Although profits were slightly above expectations, operating revenues fell 2.3%. Telecom Italia slipped 2.3% amid reports that Iliad Group and CK Hutchison are considering a potential merger in Italy, which would reduce the market to three major providers. The utilities sector underperformed, with Enel down 0.3%, Hera 1.9%, Terna 0.5%, and Snam 0.6%. On the upside, Prysmian rose 2% after raising its full-year 2025 guidance following strong third-quarter results, with revenue up 9.2% year-on-year, above expectations. Interpump advanced 4.3% after Equita upgraded its rating to “Buy” from “Hold,” expecting a return to positive organic growth in its third-quarter preview. UniCredit gained 1.4% after raising its stake in Greece’s Alpha Bank to about 29.5%.

在法兰克福，DAX指数周五下跌173点，跌幅0.72%。安联（-2.06%）、慕尼黑再保险（-2.01%）和汉诺威吕克（-1.98%）领跌。抵消下跌的影响，涨幅最大的是Qiagen NV（1.10%）、Merck（1.07%）和Commerzbank（0.96%）。

In Frankfurt, the DAX Index dropped 173 points or 0.72 percent on Friday. Losses were led by Allianz (-2.06%), Munich RE (-2.01%) and Hannover Rueck (-1.98%). Offsetting the fall, top gainers were Qiagen NV (1.10%), Merck (1.07%) and Commerzbank (0.96%).