Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
DAX sags abruptly as trade worries affect European equities
On Thursday, European stocks went down because trade tensions between China and America worsened once again. Germany’s key benchmark was suppressed by worries as for the impact of tariff action. Dismal revenue updates from BMW AG and Siemens AG also contributed to the pessimistic mood.
Traders are also awaiting a monetary policy verdict from the BoE. Britain’s main financial institution is highly anticipated to have interest rates lifted for only the second time for a decade.
The Stoxx Europe 600 dived by 0.6% hitting 387.60, finding itself on track for its second loss in a row. On Wednesday, the index headed south by 0.5% having concluded July on a positive note.
The DAX 30 index slumped by 1.71% in Germany becoming the top loser among key regional indexes, losing about 1.7% and hitting 12,519.30 on downbeat financial updates from major companies.
In Great Britain, the FTSE 100 index went down by 0.8% showing 7,588.34 because investors waited for the BOE decision.
The currency pair EUR/USD dipped by 0
Trade tensions between American and China resumed after on Wednesday US leader threatened to lift the proposed duties on $200 billion of Chinese goods to about 25%, which is more than double the initial 10%.
Worries as for the probable hit to exporters enabled to partly relieve pressure on the DAX, Germany’s key benchmark.
In addition to this, the equities of Siemens went down by 4.7% after the German conglomerate’s revenue declined in the third quarter, affected by underperformance at its crude-and-gas unit as well as a higher tax rate.
Among the other divers in Frankfurt, one should mention BMW equities that lost 2.7%, Hugo Boss AG BOSS that inched down by 4.7% following their financial updates.
Additionally, KAZ Minerals PLC KAZ lost 21%.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.