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

Bank Nifty

Bank Nifty Bank Nifty is a Sell at Current Levels with a Stop Loss of 12,750 Once Below 12,400 the next major Support shall be only 12,000 Levels so a person can go short is bearish or buy putt if moderately bearish . 
7 comments
Read more

GST ........

In the biggest tax reform since Independence, the national sales tax or GST Bill was today approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into world's biggest single market. The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill. Prime Minister Narendra Modi said the GST will "also be the best example of cooperative federalism" and "Together we will take India to new heights of progress". The legislation was approved by the Upper House with 203 votes in favour and none against, after a seven-hour debate during which a rare bonhomie was witnessed among the ruling and the opposition parties. Replying to the debate, Finance Minister Arun Jaitley said the GST rate will be kept "as low as possible" but did not commit t...
5 comments
Read more