The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
European equities are braced for quiet end to strong trading week
On Friday, European equities were poised for their best trading week for two months because market participants piled back into shares on signs that the world's key banks wouldn’t probably tighten monetary policy as rapidly as some had feared.
Friday’s move on indexes turned to be more muted as traders hunkered down ahead of earnings data from key American financial institutions including Citigroup and JPMorgan.
The STOXX 600 index inched up 0.1%. Meanwhile, euro zone blue chips STOXX50E were nearly intact.
Firmer metals prices backed revenues on mining equities.
Miners SXPP were pushed up by steel companies ArcelorMittal, Outokumpu as well as Norsk Hydro. They grew after Donald Trump told he was considering tariffs and quotas on Chinese steel dumping.
While a surge in bond yields has affected rate-sensitive sectors, including utilities, banking equities have managed to benefit and the sector stood still as Swedish lender SEB leapt 2.4% after its second-quarter revenue topped forecasts.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.