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.
European equities are backed by trade war truce
On Monday, autos, miners, tech as well as crude stocks all managed to surge, powering the EU’s key benchmarks after Chinese and American presidents agreed a temporary truce in their everlasting trade conflict that has roiled financial markets worldwide.
The DAX index in Germany, which appears to be the most sensitive to China as well as trade war worries, led the way with a 2.5% leap, reaching its highest value since November 14. Additionally, the STOXX 600 rallied by 1.9%, finding itself on track for its most productive day for eight months.
Financials appeared to be the greatest boost to EU equities because China-exposed bank HSBC tacked on and lenders across the region welcomed the prospect of a détente in a trade conflict that has impacted world economic surge prospects.
Mining shares SXPP led profits with a 5% ascend because metals rallied on the news that gives China, the world's number one metals consumer, a good push.
Anglo American, Glencore, and Antofagasta happened to be among the top EU gainers, soaring by 6.1%- 6.9%.
Car equities SXAP that have been affected by worries of soaring levies, headed north by up to 4.2% right after US leader told that China had agreed to reduce import levies on American-made vehicles.
German car makers Volkswagen, BMW, Daimler rallied by 4.8%-6.2%, while car suppliers ascended too. Moreover, tire maker Continental ascended by 4.1%, while Faurecia tacked on by 6.9%.
As for the crude sector SXEP, it gained 2.6% because oil jumped on the trade conflict truce and also ahead of this week’s OPEC gathering, anticipated to result in a supply cut.
Luxury stocks extremely sensitive to the Chinese economy also turned out to be among top performers, with heavyweight conglomerate LVMH adding 5.3%. Additionally, Gucci owner Kering surged by 6.2%.
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.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.