Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Banks drive European bourses after Fed hints at December rate lift
On Thursday, the banking sector powered a sturdy start for European equities after the Fed hinted at a probable December rate lift and announced it would get down to adjusting its balance sheet in October.
The STOXX 600 soared 0.3%, while euro zone stocks as well as blue-chips followed suit because the major US financial institution’s optimism on economic activity rekindled enthusiasm for financials and also cyclical sectors in the EU.
Banks (SX7P), the number one gainers from interest rate lifts that cushion margins, tacked on 1.2% reaching a one-month maximum on the prospect of the ECB following America in taming ultra-loose monetary policy.
Financial experts have been lifting their earnings expectations for EU financial institutions for much of the past 12 months.
Commerzbank became the top gainer, inching up 3.85%.
As for fallers, troubled British outsourcer Capita declined 9%after first-half profit went down and the hunt for a new CEO kept unrolling.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…