It was a tough week for the European majors. It could have been worse, however, had it not been for U.S data on Friday…
A bounce back in the Dollar and equity market rally on Friday painted a different picture of what preceded the U.S labor market figures.
It may seem as if the U.K. has been mired in political turmoil forever, but the deadlock over Brexit and the country’s future may just be broken next week when the public goes to polls.
The U.S. market surged in early trading after a blowout labor report. Activity may have slowed but labor markets and consumer health remain strong.
U.S. stock futures are up—for now. That could change after the U.S. jobs number is reported at 8:30 a.m.
Cautious optimism about U.S. employment numbers released later today prevailed over news that fall of German industrial production in October was worse than expected.
European stocks rose on Friday, as cautious optimism about U.S. employment numbers to be released later in the day prevailed over news that the fall of German industrial production in October proved worse than expected. The spotlight was on life insurer Phoenix Group, which agreed to acquire rival ReAssure from SwissRe for £3.2 billion, to be paid in cash and shares. Phoenix Group shares rose 0.95% to £7.46 on the news.
(Bloomberg) -- A week from now investors will know three things: the name of the U.K. prime minister, the likely path of Brexit and whether their gamble on Britain’s infamous election polling has paid off.The prospect of a Jeremy Corbyn-led Labour government is quickly being priced out of the market. The pound has climbed against the dollar five days straight through Thursday, up 9% since August when it closed at a more than three-decade low. In stocks, utility companies which would be nationalized under Corbyn’s socialist agenda are rising.Traders are betting on a Conservative Party majority as the market’s preferred outcome -- one predicted by every poll. These forecasts have been wrong before, and some asset gains are starting to look overdone.Ahead of the Dec. 12 vote, here are some key moves:Sterling jumped the most against the dollar since mid-October on Wednesday and hit the highest level versus the euro in more than two-and-a-half years as polls showed the Tories holding their lead over Labour.But investors can glean a deeper insight in the options market, where the price of contracts to exchange currencies in the future shows how much volatility the market expects. Pound-dollar options indicate that expectations for post-election swings next week have jumped the most since 2016 as traders look to capture the aftermath of the vote.Risk reversals, which protect against pound declines, show the most bearish sentiment since the June 2017 election. That may have something to do with the fact the pace of pound gains looks extreme. The pound’s 14-day relative-strength index hit 72 this week. A reading above 70 is usually a sign that an asset price has risen too far, too fast and is poised to retreat -- or at least pause.Before this week, sterling’s RSI breached 70 only three times in the past year, and each occasion preceded a decline. The pound slipped 0.2% as of 8:39 a.m. in London on Friday.While all this plays out, some British stocks are hurting. The pound’s rapid appreciation is no help to the benchmark FTSE 100 Index, which comprises global corporations that reap revenues in foreign income. The Stoxx Europe 600 Index is up 8.9% since sterling’s August low. The FTSE 100 has fallen by almost 1%.Yet one sector is having a good run. Corbyn has pledged to nationalize water and energy providers, a risk which overshadowed the first half of the year for U.K. utility stocks. But as Labour has lagged in the polls these companies have recovered against European counterparts.\--With assistance from Todd White.To contact the reporters on this story: Sam Potter in London at email@example.com;Vassilis Karamanis in Athens at firstname.lastname@example.org;Sam Unsted in London at email@example.comTo contact the editors responsible for this story: Sam Potter at firstname.lastname@example.org, Sid Verma, Cecile GutscherFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
European and U.S stats to drive the majors today, assuming that there are no negative comments from the U.S on trade…
Rebound continues as hope for the Phase 1 trade deal lingers. China is silent on progress but confirms talks continue.
European stocks mostly rose on Thursday, with the exception of U.K. equities, as multinationals suffered from the continued run-up in the British pound.
Investors are filled with holiday cheer Thursday morning. Global stock markets are, for the most part, higher. Earnings have some U.S. stocks moving. At Home cratered after cutting guidance, but Slack is rising after a solid earnings report.
Sterling could reach $1.35 if the Conservatives win the Dec. 12 general election and a Brexit pact is ratified by Parliament, according to a strategy note from UBS.
DOW JONES NEWSWIRES Budget airline easyJet PLC (UK:EZJ) is returning to the FTSE 100 index (UK:UKX) after a six-month absence in the latest reshuffle alongside food-delivery platform Just Eat PLC (UK:JE) FTSE Russell confirmed late Wednesday.
While it’s a quieter day on the economic calendar, the stats will have an influence as hopes of a trade agreement return…
Government debt yields and a gauge of global equity markets rose on Wednesday as sentiment improved after U.S. President Donald Trump said trade talks with China were going "very well" and a news report suggested key differences were being ironed out. European stocks rallied, with the blue-chip Euro STOXX 50 , Germany's DAX and French CAC 40 gaining more than 1%. The safe-haven yen and Swiss franc fell as Trump's encouraging comments on the U.S.-China trade negotiations boosted "risk-on" sentiment.
Markets rebound on a new report citing sources close to the talks that a Phase One Deal is getting close.
The catalyst behind the strength is a report from Bloomberg suggesting the United States and China were inching closer to a trade deal. The news is an about face from the narrative that drove Asian shares lower earlier in the day and Wall Street stocks sharply lower on Tuesday.
Sterling climbs on Wednesday, a move that hampered the FTSE 100’s ability to capitalize on renewed U.S.-China trade optimism.
U.S. stocks are set to start the day in the green, rebounding after news that President Donald Trump might delay a U.S.-China trade deal until after the 2020 election roiled markets on Tuesday.
European stock markets are gaining on Wednesday as the trade-talk pendulum swings higher after a report that Washington and Beijing are still working toward a phase one deal.
European stocks are jumping higher after a report said the U.S. and China are working toward a phase one agreement, despite downbeat comments from President Donald Trump a day earlier.
FT subscribers can click here to receive Market Forces every day by email. tells us the currency market expects a Conservative party majority at next week’s general election. is that this market reaction simply illustrates a degree of relief about the prospect of an orderly withdrawal from the EU at the end of January.
Investing.com -- The pound hit its highest level against the euro in over two years on Wednesday on increasing confidence that the general election on Dec. 12th will return the Conservative Party to power with a healthy majority. It also hit a six-month high against the dollar
By Geoffrey Smith
Chatter on trade dominated the news wires and the markets on Tuesday and will likely continue to do so. Expect data to influence, however.
Yahoo Finance's Brian Sozzi, Alexis Christoforous and Jared Blikre discuss the latest market action with Fross & Fross Wealth Management’s Thomas Fross and RiverFront Investment Group Chris Konstantinos on The First Trade.
President Donald Trump suggested a trade deal with China may not come until after the 2020 election, and threatened to impose tariffs on France.
Global markets are mixed following a series of sentiment damaging blows. The U.S. market is down -0.75% and extending Monday losses in early Tuesday trading.
European stocks on Tuesday recovered some of the ground lost in the prior session, with gains tentative on continuing worries about trade tensions.
By Geoffrey Smith
With no material stats due out, geopolitics and chatter on trade will continue to drive the majors…
Global markets are mixed on Monday after global trade relations took a turn for the worse.
Stock markets reversed earlier gains on Monday after U.S. President Donald Trump said he would restore tariffs on some imports from Brazil and Argentina, overshadowing data showing that the Chinese and euro zone economies were stabilising. European stocks had initially rebounded towards four-year highs, as decent manufacturing data in China and renewed optimism over a trade deal between Washington and Beijing eclipsed last week's jitters.
Share markets surprised themselves on Monday (December 2) with a better-than-expected start to a new trading month. The main reason: China. Manufacturing there apparently enjoyed an unexpected rebound in November. The purchasing managers' index - at 51.8 - marked the quickest expansion in almost two years. Europe helped too. France's PMI survey picked up at the fastest rate in five months. And Germany wasn't quite as bad as expected. For Frankfurt's Dax, that helped offset political worries - caused by new strains between its ruling parties. Baader Bank's Robert Halver. (SOUNDBITE) (German) HEAD OF CAPITAL MARKETS ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "The DAX is stable, which is surprising since the coalition is entering its next crisis. But what is important is that the Chinese attitude to their economy remains positive. Naturally, that's helpful for the German exports." In morning trading, the pan-European STOXX 600 followed through on Asia's optimism by closing in on fresh-four year highs. Dollar yen saw a six-month high ... And oil - with an additional boost on hopes of another OPEC output cut this week - jumped above 61 dollar a barrel. Sentiment around the UK was less buoyant. Its PMI survey shows manufacturers cut jobs in November at the fastest rate since 2012 ... As Brexit and a global trade slowdown caused the sector's longest decline since the financial crisis.
European stocks advanced on Monday, buoyed by data showing the world’s second-largest economy, China, seems to be bouncing back.
European shares posted their biggest daily drop in two months on Monday, with most major markets including Germany and France slumping more than 2%, as a reimposition of U.S. metal tariffs on Brazil and Argentina triggered a decline in global sentiment. After an upbeat November, its third straight month of gains, the pan-European STOXX 600 index closed down 1.6%, erasing session gains after positive factory activity data from China and major euro zone economies had earlier taken it to near four-year peaks.
By Geoffrey Smith
It’s a busy day ahead, with manufacturing PMI numbers from China, the Eurozone, and the U.S in focus. Stats from the weekend provided early support.
It’s a particularly busy week ahead. The Pound will be in the grasps of the opinion polls, with risk appetite in the hands of the U.S and China and data.
It was a busy week for the global financial markets, with economic data and geopolitics in the mix. While the stats were skewed to the positive, the HK Bill tested the bulls.
A busy economic calendar and uncertainty over how China will respond to the HK Bill will test the majors at the end of the month.
Economic data will likely take a back seat as the markets react to Trump’s signing of the HK Bill. China’s response will ultimately be key, however.
The futures are pointing to a mixed day as the markets look for a positive conclusion to phase 1 trade talks that appear to be neverending…
Yahoo Finance's Brian Sozzi, Alexis Christoforous and Jared Blikre discuss the latest market action with Diamond Hill Capital Management’s John McClain and Whittier Trust's CIO Sandip Bhagat on The First Trade.
European stocks nudged lower on Tuesday as investors waited for more concrete trade developments between the U.S. and China.
Turnover of CEOs at FTSE 100 companies is on pace for an all-time record in 2019, with 14 bosses having left or announced plans to leave their posts so far this year.
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.