Skip to main content

European Market

European stocks edged higher on Thursday, as markets awaited the European Central Bank and the Bank of England's policy statements later in the day. 
During European morning trade, the EURO STOXX 50 added 0.12%, France’s CAC 40 rose 0.17%, while Germany’s DAX 30 inched up 0.01%. 
The ECB was not widely expected to make any changes to monetary policy at its monthly meeting later Thursday but the bank’s post-policy meeting press conference with President Mario Draghi would be closely watched. 
Stocks also found support after data on Wednesday showing that the U.S. private sector added far fewer-than-expected jobs in May dampened expectations that the Federal Reserve would start to unwind its asset purchase program this year. 
Financial stocks were mixed. In France, BNP Paribas and Societe Generale were flat, while Germany's Deutsche Bank gained 0.61%. 
Among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.28% and 0.72% respectively, while Italy's Intesa Sanpaolo and Unicredit declined 0.29% and 0.56%. 
In London, FTSE 100 eased up 0.02% ahead of the Bank of England's monthly policy decision. 
Johnson Matthey led gains, surging 7.58%, as the U.K. platinum refiner and producer of auto-catalysts posted underlying pretax profit that slipped to GBP389.2 million in the full-year ending in March, still beating the GBP379.1 million estimate . 
Meanwhile, mining giants Rio Tinto and BHP Billiton were on the downside, declined 0.83% and 0.58% respectively, while Anglo American dropped 0.67%. 
Financial stocks were also mostly lower, as shares in Lloyds Banking slid 0.71% and the Royal Bank of Scotland retreated 0.76%, while Barclays plummeted 1.98%. HSBC Holdings tumbled 1.09%. 
Bloomberg reported earlier that Nomura Holdingsis selling 84.5 million shares in Barclays on behalf of an investor at 308.5 pence a share to market price. 
Elsewhere, RSA, which insures cars, homes and ships in the U.K., Scandinavia and emerging markets, jumped 1.59% after Morgan Stanley raised its rating on the stock to "overweight" from "underweight". 
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.21% rise, S&P 500 futures signaled a 0.31% increase, while the Nasdaq 100 futures indicated a 0.20% gain. 
Later in the day, the U.S. was to release the weekly report on initial jobless claims.


Comments

Post a Comment

Popular posts from this blog

Wizard of Dalal Street: Govind Parikh's investment mantra

Wizard of Dalal Street: Govind Parikh's investment mantra Govind Parikh of Govind Parikh Securities says selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says I like to buy things in a bad market. Additionally, don't look current cash flow, concentrate on future cash flows — that is what  I look at," says Govind Parikh of Govind Parikh Securities. He advises investors to buy good quality stocks when the market crashes. While sharing his investment philosophy with ace investor Ramesh Damani, on the Wizards of Dalal Street, Parikh says management integrity is very important when deciding which stock to bet on. He tells investors not to buy stocks impulsively. According to him, selling right is more important than correct buying. He says it is necessary to keep a lot of cash. "We keep an average 10 percent cash in our portfolio," he says. He al...
2 comments
Read more
LIC IPO Shorts  The largest market capitalization in the making. The govt selling 5 percent stake...... The cuttoff price 2100 Listing price 3000 or more shall be included in the nifty Pro Large base of policies Large Market Share Cons Decling market share viz viz private companies higher cost insurance policies Bottom line can apply for LIC IPO for listing gains..... For More do have a look at the Link Below https://www.youtube.com/watch?v=VPGp5V1ecDM  
Post a Comment
Read more
  NASDAQ's Crack Will Rattle Global Equities During the week, the confidence of the bulls got shattered when tech-focused US companies crashed rattling the entire financial markets. Nasdaq's crash does not look like a normal correction but seems like a bigger downward spiral unfolding after valuations sky-rocketed. Given that US elections are only 52 days away, it seems unlikely that US markets will make fresh highs again and there is every likelihood that selling pressure may continue even in broader markets. Crude oil too has given up most of its gains and prices are below USD 40 per barrel on expectations of lower demand going ahead which suggests that global recovery might take longer than earlier anticipated. In contrast surprisingly, gold's move is not hinting at any major crash in the financial markets, given that gold prices consolidated and remained steady even when Nasdaq plummeted. One of the important ways to analyze the psyche of an investor is by measuring mut...
Post a Comment
Read more