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.
EU equities rebound amid expectations for Italy-EU budget resolution
On Wednesday, European markets managed to gain, powered by expectations that Italy’s budget deficit could be reduced, although worries as for Italy’s debt as well as budget plan persisted.
The Stoxx Europe 600 SXXP tacked on by 0.6% trading at 384.40 having lost 0.5% on Tuesday.
Eventually, regional profits were led by Italy’s FTSE MIB index I945 that managed to ascend by up to 1.4% reaching 20,846.34. On the contrary, Greece’s ASX Composite GD came up with the steepest dive amid EU benchmarks, losing 2.4% and ending up with 664.82.
As for German markets, they were unavailable due to a holiday. The CAC 40 PX1 rallied by 0.7% in France hitting 5,503.30. The FTSE 100 UKX jumped by 0.6% in Great Britain being worth 7,515.85.
The currency pair EUR/USD pared back much of earlier gains, hitting $1.1548 in contrast with $1.1549 showed on Tuesday in New York.
Additionally, the currency pair GBP/USD stood still showing $1.2985.
Italian financial institutions boast a relatively high exposure to Italy’s bonds. However, their European rivals have gradually diminished their portfolios. If the rhetoric between the Italian authorities and the European bloc worsens, that pressure could become unacceptable.
Profits on Italian 10-year government bonds dipped by 7.1 basis points ending up with 3.350%, and the spread with 10-year German bonds decreased.
Financial institutions led the top performers. Among them Italian names were seen, including Banco BPM SpABAMI – its equities added 3.5%. Additionally, in Spain, such financial institutions as Banco Santander SA SAN as well as HSBC Holdings PLC HSBA managed to rally by up to 1.2%.
Tesco PLC TSCO went down approximately 10% right after the grocer posted first-half operating revenue which happened to be below expectations.
As for smaller firms, luxury car maker Aston Martin went down by 8% in its debut in London.
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.
Great Britain will publish the Inflation Rate on October 20, at 09:00 MT time (GMT+3).
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.