CATEGORY European stock

No Image

Euro Stoxx tracks metal prices, drops almost 2%

FXStreet (Mumbai) – The European stocks fell sharply on Tuesday as investors tracked metal prices, which traded weak, ignoring the bounce in the US and Chinese stock markets.

The pan-European Euro Stoxx 600 index currently trades 1.85% lower around 351.20 levels. London’s FTSE 100 index was 1.8% lower, the German DAX fell over 1.5% and the French CAC was off by 2.1%.

Shares in Volkswagen extended the Monday’s decline by almost 6% on the continuing controversy over its emission tests. London-listed Antofagasta saw shares down 6.5% after a price cut from Credit Suisse. Anglo American shares declined after Swiss bank downgraded its outlook from “outperform” to “neutral”. Shares in BHP Billition also weakened 4.7% lower.

Wall Street witnessed a moderate bounce back on Monday, however, commodity prices were unimpressed with the bounce in the US and China. Moreover, the sentiment could have taken a hit after the Asian Development Bank (ADB) revised its China and India growth forecasts lower.

The European stocks fell sharply on Tuesday as investors tracked metal prices, which traded weak, ignoring the bounce in the US and Chinese stock markets.

(Market News Provided by FXstreet)

READ MORE 

No Image

US retail sales: Market mover for today – Danske Bank

FXStreet (Delhi) – Research Team at Danske Bank, expects the US retail sales is going to be the main market mover today.

Key Quotes

“We expect another solid increase in the core retail sales measure (ex autos, gasoline and building materials) of 0.3% m/m (in line with consensus) as consumption is getting a boost from lower gasoline prices and solid job growth.”

“Headline retail sales will be dragged down by falling gasoline sales (driven by lower prices) and we expect an increase of 0.1% m/m. The US also releases industrial production and Empire index today.”

Research Team at Danske Bank, expects the US retail sales is going to be the main market mover today.

(Market News Provided by FXstreet)

READ MORE 

No Image

European stocks keep the red post UK CPI, ZEW – next in focus

FXStreet (Mumbai) – Most stocks on the European indices halted their downslide and erased partial losses, with the French stocks now turning into the positive territory.

European markets cheer UK CPI

The UK’s benchmark, the FTSE 100, trimmed losses after the UK CPI data release which printed in line with estimates, easing concerns of the UK economy falling back into deflation.

Consumer-price inflation in the UK showed no growth in August year-on-year, after the 0.1% rate previously, with prices dragged lower by falling oil prices. The rate of core inflation in Britain slowed to 1% in August, down from 1.2% in July.

Germany’s DAX 30 index pared losses and now trades-0.29% lower at 10,099, while the UK’s FTSE 100 index drops -0.90% to 6,030. Among the other indices, the French CAC 40 index trades muted at 4,520, while the pan-European Euro Stoxx 50 index loses -0.21% to 3,170.

Markets now shift their attention towards the September ZEW economic sentiment report from Germany, which is expected to unveil a slowdown in activity to 18.3 points, after August’s 25. The Current Situation Index is likely to slide to 64 points this month from 65.7 before.

Most stocks on the European indices halted their downslide and erased partial losses, with the French stocks now turning into the positive territory.

(Market News Provided by FXstreet)

READ MORE 

WP: 4.75MB | MySQL:49 | 0.491sec