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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.
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.
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.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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