The Pound and the EUR struggled, while the Greenback, Aussie Dollar and Kiwi Dollar saw green for the week.
Global equities firm as rate cut hopes are stoked but traders are cautioned not to expect too much from the FOMC.
The England cricket team has just celebrated winning a world cup for the first time, reflecting four years of planning, hard work, persistence and the deft application of talent. International investors have long shunned, or in their parlance, “underweighted” the UK, according to various surveys since 2016. Not only have many foreign investors turned their backs, they are in no mood to step back in and buy UK assets when the likelihood is high that they can only become cheaper in local currency terms.
The major U.S. stock indexes are expected to open higher based on the pre-market futures trade, however, the markets are retreating from early highs. Buyers came in early, following through to the upside after Thursday’s late rally, but gains were dampened after a New York Fed spokesperson downplayed the chances of an aggressive rate cut.
London markets rebounded on Friday led by optimism over Federal Reserve rate cuts and an oil price boost for commodity stocks.
European markets climbed on Friday as renewed optimism of a Federal Reserve rate cut outshone trade war tensions.
U.S. equity futures are pointing to solid gains across Wall Street Friday as investors react to comment from Federal Reserve officials that could signal deeper rate cuts and stronger-than-expected second quarter earnings from Microsoft that look to revive hopes for a tech-lead rally into the second half of the year.
Global stocks rose on Friday as investors firmed up bets on a U.S. interest rate cut at the end of July after a speech by a top Federal Reserve official further cemented expectations for one, fuelling appetite for risky assets and capping the dollar. European shares opened higher across the board, with the pan-European STOXX 600 index gaining 0.7% in early trade. Comments by New York Fed President John Williams on Thursday made it virtually certain, in the markets' view, that the Fed would cut interest rates by at least 25 basis points at its July 30-31 policy meeting and also revived expectations of an even deeper 50 bps reduction.
The bourse’s big names depend on international sales more than local trends. That won’t change even if Berlin embraces economic stimulus.
By Geoffrey Smith
The Futures markets are pointing to a bullish start to the European session. Corporate earnings, FOMC member chatter and Trump could impact…
Novartis and eBay grabbed early leads Thursday as Netflix slammed the Nasdaq, even as an analyst upgrade lifted Dow Jones stock Apple toward a buy point.
Global markets edged lower as earnings, trade woe weighs on sentiment.
London markets retreated on Wednesday as trade talks between the U.S. and China hit a Huawei hurdle and the pound rebounded on strong U.K. retail sales.
European markets were dragged down on Thursday as trade talks between the U.S. and China ground to a halt over Huawei.
European stocks ended lower on Thursday, as earnings worries ran high after poor results from software firm SAP sank technology shares, although hopes of looser monetary policy from the European Central Bank helped indexes bounce off early lows. After falling as much as 0.7% during the session, the pan-European STOXX 600 index closed down 0.2%, drawing support from a Bloomberg report that ECB staff were studying a potential change to the bank's inflation goal of near 2%. "The ECB changing its targets with regards to inflation could potentially enable it to be more accommodative for longer," said Craig Erlam, senior market analyst at OANDA in London.
FT subscribers can click here to receive Market Forces every day by email. Expanding equity multiples that recently propelled the S&P 500 index into record territory requires evidence of earnings growth at some point.
U.S. equity futures are pointing to a third day of declines on Wall Street Thursday as investors react to weaker-than-expected earnings in the tech and industrial sectors and signal increasing concern for the fate of U.S.-China trade talks.
Asian share markets faltered on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries. South Korea's market was off 0.4% after the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years, as uncertainties from a trade dispute with Japan added to anxiety about the economy's outlook.
By Geoffrey Smith
The futures are pointing towards a slide at the open as earnings results begin to disappoint.
Global indices retreat as trade woe resurfaces and corporate earnings roll in.
London markets drifted lower as the pound continued its descent and fresh trade war fears hit the FTSE 100.
FT subscribers can click here to receive Market Forces every day by email. Reflation is what central banks and those holding risk assets want to see and that's why a rate cut looms from the Federal Reserve at the end of the month. Glancing at inflation break-evens — bond market measures of inflation expectations — does show some progress on that front.
Johnson Matthey on Wednesday lowered the profit outlook for its largest unit that makes pollution filters for cars and trucks and announced the departure of the unit's head, sending its shares down more than 3%. Shares of the FTSE 100 company was the biggest loser on London's blue-chip index. The moves follow scrutiny of Johnson Matthey's catalytic filters for trucks, which have been linked to emission issues at truckmakers Volvo and Cummins.
U.S. equity futures edged higher, potentially lifting Wall Street to fresh record peaks again Wednesday, as investors await the first of six major tech sector earnings reports later today that could make-or-break the recent stock market rally.
A light economic calendar on the day ahead will leave earnings and any trade war chatter to drive the majors.
This month, the UN estimated that climate disasters are happening at the rate of one a week. In October, the Intergovernmental Panel on Climate Change said we had 12 years to hold global warming to 1.5C above pre-industrial levels. Aviva measured investments in its equities portfolios against the goals of the 2015 Paris agreement (limiting the rise to 2C) and found they are on track for a 3.4C rise.
The U.S. retail sales are much stronger than expected and point to economic stability, not interest rate cuts.
British fashion brand Burberry's shares jumped on Tuesday, lifting other luxury goods makers, while upbeat earnings from big Wall Street banks spurred gains for the region's lenders, driving major European markets to their highest closing levels in a week. Burberry's shares surged 14.4%, their biggest one-day gain in 7 years, as quarterly results showed demand for new designs by creative chief Riccardo Tisci picking up. Upscale retailers in Europe, including Hermes, Louis Vuitton owner LVMH and Gucci parent Kering , rose between 0.4% and 2%, helping France's CAC 40 index outperform its European peers with a 0.65% gain.
Most Asian stock markets rose on Tuesday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy ahead of a likely U.S. rate cut later this month. German DAX futures were up 0.04%, FTSE futures were down 0.18%, and financial spreadbetters saw France's CAC 40 opening flat. China's blue-chip CSI300 index fell 0.3% as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S. trade war, even as new data highlighted Beijing's efforts to boost spending.
Investing.com - Here are the top five things you need to know in financial markets on Tuesday, July 16:
By Geoffrey Smith
While economic data out of China came in better than expected this morning, a lack of stats will leave the European majors in the hands of Oval Office Chatter.
It’s a big week ahead, with key stats, corporate earnings, and geopolitical risk to provide the majors with direction through the week.
It was ultimately about FED Chair Powell on the week. Testimony to Congress weighed on the Dollar, whilst delivering new record highs for the U.S majors…
Yahoo Finance’s Edmund Heaphy weighs in on what’s happening in the overseas markets.
By Geoffrey Smith
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The last time French stocks hit a record high, Jacques Chirac was president, the Concorde’s future was in serious doubt after a crash near Charles de Gaulle Airport, and the country’s economy was growing at around 4%, a level not seen since.While the CAC 40 Index still needs to gain 23% to surpass its all-time peak set in 2000, in the waning days of the internet bubble, the benchmark is closing in on a 12-year high, driven by stellar performances this year from luxury titan LVMH and planemaker Airbus, both up nearly 50%.After outpacing the DAX, the FTSE 100, the IBEX and the FTSE MIB over the past 12 months, the CAC is back in fashion, in part because the index is more diverse than it used to be, with strong companies in several industries, says Matteo Brancolini, a fund manager at BPER Banca in Milan. LVMH, drinks maker Pernod Ricard, which this week touched a record high, and cosmetics giant L’Oreal are among the CAC 40 stocks that Brancolini says are “sexy.”The French index took a hit when the Internet bubble burst, and companies such as Orange and Vivendi never really recovered. Then came the financial crisis, which hammered France’s banks. That’s another sector that is still struggling. In early July 2007, before the U.S. subprime storm, the sector, banks and insurers accounted for about 21% of the CAC’s weight, making finance the biggest sector. Today it accounts for only about 10%, while the industrial and consumer discretionary sectors each represent about a fifth of the CAC now.Since the beginning of 2008, Societe Generale shares have lost three quarters of their value while LVMH has quintupled. SocGen had a bigger market value than LVMH before the crisis; now, LVMH at 193 billion euros is 10 times larger.Read more: Luxury Stocks Are Reshaping France’s CAC 40 With Kering on Fire“The banks’ weight on the index became bigger and bigger and then collapsed with the financial crisis,” Cedric Ozazman, head of investment and portfolio management at Reyl & Cie. in Geneva. “That’s the main reason for the CAC’s underperformance.”Luxury has become the index’s biggest growth engine. Their growing weight in France’s equity benchmark has paid off in the past year as luxury-goods makers showed resilience amid global trade tensions. However, the CAC could quickly lose its glitter again if economic growth further slows in China, or if Hong Kong’s political turmoil lasts. Both are major markets for the sector.But this year’s 19% gain in the CAC also reflects good breadth, according to Brancolini. Besides Airbus and LVMH, top gainers include technology consultant Atos, software maker Dassault Systemes and industrial companies Legrand and Schneider Electric.“France has cool stocks and the CAC 40 is the most ‘beautiful’ index in Europe,” Brancolini says. “While Germany’s DAX is full of cyclicals and industrials, which are slowing down, and Italy’s FTSE MIB has many banks, the CAC is a well balanced index, with everything from luxury and utilities to pharma, industrials, food and banks too.”The index’s developments mirror a wider dynamic between local players, which lost ground over the years, and global companies like LVMH and L’Oreal, which have been able to rely on the demographic trends in regions such as China and the U.S. for growth, Ozazman says.BNP Paribas and Societe Generale may have a presence in the U.S. and other countries but their performance is still strongly linked to France, where economic growth is slower, he says.Now, with the CAC around 5,621, traders are watching the 2018 peak of 5,640. A move above that level would put the index at the highest since late 2007, before the crisis hit fully. The all-time closing high of 6,922.33 from 2000 still seems like a long way off.Of course, looking only at the CAC’s price change doesn’t tell the whole story for investors. Including dividends, the index has returned 47% since the peak. That works out to about 2.1% a year.In the meantime, Euro Stoxx 50 futures are trading little changed ahead of the open.SECTORS IN FOCUS TODAY:Watch chipmakers after Samsung reported its profit halved in the June quarter as an industry downturn and trade tensions hit demand for chips and smartphones. Watch Samsung suppliers including STMicroelectronics, Siltronic, ASML, Aixtron, Infineon and Dialog Semi.Watch miners and steelmakers after the iron ore price, which has rocketed in 2019, slumped after the top Chinese steel industry group called for a probe into the rally for the material. Watch miners with high exposure to iron ore, including Rio Tinto, BHP, Anglo American and Ferrexpo and watch for any impact in the steelmaking sector, including ArcelorMittal, Voestalpine and Evraz.Watch impact from plummeting bond yields German bund yields sank below the European Central Bank’s deposit rate for the first time on Thursday, a development likely to drive investors yet further into the realm of riskier debt from the likes of Italy and Greece, plus plenty of emerging market assets.Watch the pound and U.K. stocks as the future of the union of the United Kingdom is becoming a key battleground for the candidates aiming to be the next prime minister.COMMENT:“(We) forecast a 3% gain in global equities to mid-2020,” Citi strategists write in note. “A sharp global economic slowdown remains the biggest risk to our optimistic view. We think this bull market will continue to narrow into U.S. equities, where we remain overweight. The U.K., where Brexit fears look overdone, is now our favorite value trade. Our global sector strategy has a mild cyclical/growth tilt.”COMPANY NEWS AND M&A:Deutsche Bank U.S. Job Cuts May Go Deeper Than Equities, RatesDeutsche Bank Cuts Seen Sparing Jobs in ‘Integral’ Nordic RegionOsram Boards Accept $3.8 Billion Offer From Bain and CarlyleIAG Reported to Plan New Norwegian Air Bid Within Two WeeksGermany’s FinTech Group Weighs Options Including Potential SaleOrange CEO’s Future Hangs in the Balance as Fraud Verdict LoomsSocGen Is Said to Plan Sale of U.K. Private Banking Business (1)France’s Vial: Not Aware of Fresh Talks on Renault-FiatDeutsche Post to Lift Letter Prices for Corporate Customers: FAZAroundtown Acquires EU900m Properties in Germany, BeneluxBrookfield, Endesa Are Said to Weigh Bids for EDP Hydro AssetsShell Has Entered Japan’s Retail Electricity Market, Nikkei SaysBosch Is Said to Near $1B Sale of Packaging Unit to CVCNOTES FROM THE SELL SIDE:Peel Hunt recommends buying Ocado and selling Just Eat, as the lines between takeaway and grocery delivery are blurring. Ocado is a technology company now and should be treated as such, while Just Eat could face new “pain point” in 1H results on higher marketing costs.Tullow Oil is seen having attractive risk/reward upside, Jefferies says in note, upgrading the stock to buy from hold while maintaining its 245p price target.Peel Hunt cuts Victrex to hold from add due to a weaker economic environment, notably in Germany, saying it could trim the thermoplastic maker’s pretax profit this year and next by 5%.TECHNICAL OUTLOOK for Stoxx 600 index:Resistance at 397.9 (May 2018 high); 403.7 (2018 high)Support at 392.7 (July 2018 high); 385.7 (76.4% Fibo)RSI: 71.2TECHNICAL OUTLOOK for Euro Stoxx 50 index:Resistance at 3,596 (May 2018 high); 3,687 (2018 high)Support at 3,519 (76.4% Fibo); 3,412 (50-DMA)RSI: 73.1MAIN RESEARCH AND RATING CHANGES:UPGRADES:Aareal Bank upgraded to hold at Kepler Cheuvreux; PT 25.50 EurosDSM upgraded to overweight at JPMorgan; PT 120 EurosDufry upgraded to neutral at Goldman; Price Target 87 FrancsHoist Finance upgraded to buy at SEB Equities; PT 53 KronorIliad upgraded to hold at Kepler Cheuvreux; PT 105 EurosNemetschek upgraded to neutral at Oddo BHF; PT 51 EurosOsram upgraded to hold at LBBW; PT 35 EurosTakkt upgraded to buy at Kepler Cheuvreux; PT 17 EurosTullow upgraded to buy at Jefferies; Price Target 2.45 PoundsWood upgraded to buy at BerenbergDOWNGRADES:JM downgraded to sell at DNB Markets; PT 200 KronorVictrex downgraded to hold at Peel HuntINITIATIONS:Ambea rated new buy at Handelsbanken; PT 75 KronorHumana rated new hold at Handelsbanken; PT 62 KronorMARKETS:MSCI Asia Pacific up 0.3%, Nikkei 225 up 0.1%Euro down 0.04% at $1.128Dollar Index up 0.01% at 96.78Yen down 0.06% at 107.88Brent down 0% at $63.3/bbl, WTI down 1% to $56.8/bblLME 3m Copper down 0.2% at $5906/MTGold spot little changed at $1416.4/ozUS 10Yr yield down 1bps at 1.94%ECONOMIC DATA (All times CET):8:45am: (FR) May Current Account Balance, prior -800m8:45am: (FR) May Trade Balance, est. -4.85b, prior -4.98b9am: (SP) May Industrial Output SA YoY, est. 0.55%, prior 1.7%9am: (SP) May Industrial Output NSA YoY, prior -2.0%9am: (SP) May Industrial Production MoM, est. -0.5%, prior 1.77%9:30am: (UK) June Halifax House Price 3Mths/Year, est. 5.7%, prior 5.2%9:30am: (UK) June Halifax House Prices MoM, est. -0.4%, prior 0.5%10:30am: (UK) 1Q Unit Labor Costs YoY, prior 3.1%11am: (IT) Istat Releases the Monthly Economic Note* For a daily wrap on developments in European equity capital markets, click here\--With assistance from Michael Msika.To contact the reporter on this story: Albertina Torsoli in Geneva at firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, Phil SerafinoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A quiet day ahead leaves the majors to consider Eurozone retail sales figures and geopolitical risk. Can the DAX make it 7-in-a-row?
Symantec and Tesla stock boosted the S&P; 500 to a new record high as the market jumped into a short, pre-holiday trading session on Wednesday.
Investors took the news as an indication the central bank’s policy would continue to support markets
The futures markets are pointing to a major bounce at the open. While on the heavier side, stats are likely to have a muted impact on the day…
While we can expect the markets to react favorably to news from the G20 Summit, rising tension between the U.S and Iran could be a spoiler…
While the stats were on the lighter side in the week, there was plenty for the markets to digest including initial updates from the G20 Summit…
All eyes are on President Trump and China's President Xi's meeting tomorrow on trade with the G20 summit in Japan underway. Yahoo Finance's Brian Sozzi and Alexis Christoforous speak to Oscar Williams-Grut.
Economic data is on the heavier side today, but it’s unlikely to distract the markets as the G20 Summit gets underway.
European markets are expected to open broadly higher on Wednesday with investors appearing to brush off escalating trade tensions between the U.S. and China.
European stocks are set to open lower Tuesday morning after the Trump administration decided to impose 10 percent tariffs on $200 billion worth of Chinese imports.
European stocks are set to open lower Monday morning, amid renewed fears over an escalating trade war between the world's two largest economies.
European stocks are set to open higher Friday morning, after an expectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite.
Equity indices across Europe are expected to open lower on Thursday morning ahead of several central bank meetings.
Bourses in Europe are set to open mixed Wednesday morning, as investor sentiment is dented by new tensions between the U.S. and China surrounding trade.
Markets in Europe are poised to start Tuesday's trading on a higher note, continuing the positive momentum seen in other global markets.
Shares in Europe are poised to start the week on a lower footing amid ongoing concerns over global trade.
European shares are expected to open slightly higher on Friday morning, but investors remain cautious amid new trade threats.
Stocks in Europe are set to open slightly lower on Thursday amid ongoing concerns over emerging markets and potential new U.S. tariffs on China.
European stocks are set to open lower Wednesday morning, as renewed fears over international trade conflicts limited investor appetite for riskier assets.
European stocks are set to open lower Wednesday morning, after emergency austerity measures in Argentina underscored the recent turbulence in emerging markets.
European stocks are set to open slightly lower Monday morning, amid heightened concerns of an escalating trade war between the world's two largest economies.
European stocks are set to open lower Friday morning, amid heightened fears of an escalating global trade war between the world's two largest economies.
European stocks are set to open slightly lower Thursday morning, as investors continue to monitor global trade talks.
European stocks are set to open slightly higher Wednesday morning, as investors continue to monitor global trade developments.
European stocks are set to open higher Tuesday morning, with risk appetite boosted by news of an agreement between the U.S. and Mexico to overhaul the North American Free Trade Agreement (NAFTA).
European stocks seen mixed ahead of a key speech by Jerome Powell, the chair of the U.S. Federal Reserve.
Stocks in Europe are expected to open lower Thursday morning after Beijing implemented new retaliatory tariffs against the United States.
European stocks are set to open lower Wednesday morning, as investors continue to monitor trade talks between the world's two largest economies.
European stocks are set to open lower Tuesday morning, as comments from President Donald Trump weigh on the dollar and test market optimism ahead of U.S.-China trade talks.
European stocks are set to open mixed Monday morning, with investors awaiting the outcome of trade talks between the world's two largest economies later this week.
European stocks are set to open slightly lower Friday morning, after news the U.S. and China have agreed to hold their first trade talks since June next week.
Bourses in Europe are expected to open higher Thursday morning following news that China has accepted an invitation from the United States to talk trade in late August.
The pay of FTSE 100 bosses surged 11 percent in the past year, pushing their median pay up to nearly £4 million ($5.1 million), according to a report which also found full-time employees received a 2 percent rise over the same period.
Shares in Europe are expected to start Wednesday's trading a touch higher as concerns over the Turkish currency crisis continue to affect investors' appetite.
European stocks are expected to open in the black Tuesday morning as concerns over Turkey's economic woes eased.
European stocks are set to open lower Monday morning, as investors monitored renewed trade tensions and a deeper slide in the Turkish lira.
European stocks are set for a mixed open Thursday morning amid a deepening U.S.-China trade dispute and a flurry of corporate earnings.
European futures traded mixed in premarket trade Wednesday, amid investors keeping a close eye on Brexit developments and corporate earnings.
European futures traded slightly higher in premarket trade Tuesday, as investors kept a close eye on trade tension and earnings.
European stocks are set to open higher Monday morning, amid a backdrop of renewed trade tensions.
Stocks in Europe are set to begin Friday's trade higher by a comfortable margin.
European markets are set for a negative open Thursday morning, while the Bank of England is expected to raise interest rates despite uncertainty over what Brexit could mean for the U.K. economy.
European bourses are set to begin trade on Wednesday in negative territory.
Major European bourses are set to open in the red by a slim margin on Tuesday ahead of a slew of data and corporate releases.
European markets are set to begin the week on the back foot, with all major bourses expected to open in the red.
European markets are expected to begin Monday’s session on a negative note, mimicking weaker trading in markets overseas.
Shares in Europe are poised to open lower Friday following remarks from President Donald Trump about the Federal Reserve.
European shares are set to start Thursday’s trading session on a mixed note, as investors await further corporate results and digest political events.
European shares are set for a strong open on Wednesday carrying on the positive sentiment that kickstarted on Wall Street.
Stocks in Europe are poised for a mixed open Tuesday as investors await further corporate results and remarks by Federal Reserve Chairman Jerome Powell.
European shares are expected to open mostly higher Monday as investors focus on earnings and monitor an upcoming meeting between the United States and Russia.
European stocks are set to open higher Friday morning, tracking overnight gains on Wall Street amid elevated expectations of strong U.S. earnings.
European stocks are set to open higher Thursday morning, as markets consolidated steep losses from the previous session when heightened fears of an escalation to the U.S.-Sino trade war soured investor sentiment.
European shares are poised for a lower open Wednesday morning after U.S. authorities unveiled a new list of Chinese products that could see new tariffs.
Markets in Europe are poised to start Tuesday’s trade on a higher note as investors focus on upcoming corporate earnings and put trade and political tensions aside.
European equities are expected to start the trading day higher as investors monitor developments on trade and react to news that the U.K.’s chief Brexit negotiator has resigned from his post.
European stocks are set to open lower Thursday morning, with market players in a state of anxious uncertainty ahead of a U.S. deadline to impose tariffs on Chinese products.
European stocks are set to open mixed Wednesday morning, amid elevated tensions between the U.S. and China over looming trade tariffs and investment restrictions.