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 ascend on Wall Street bounce
On Friday, European equities managed to rally, underpinned by a bounce on Wall Street because a turbulent approached its end and market participants licked their wounds right after the region's benchmark STOXX 600 went down to its lowest value since Trump's election.
As a matter of fact, the STOXX 600 went up by 1.4%, while Germany's DAX managed to shot up by nearly 1.5%. Additionally, on Thursday, the pan-European benchmark hit a minimum of 327.34, which appears to be its worst outcome since November 9, 2016.
Volumes were still light with a lot of traders away for the Christmas holidays. In the first thirty minutes, about 5% of the 30-day average daily volume was traded.
Christmas week has turned out to be a wild ride for market participants, with American and EU equities facing considerable losses on December 24. However, Wall Street's recovery surge on Thursday to profits of more than 1% backed market sentiment in Europe and Asia.
Threats kept lurking with an American government shutdown still lasting following a brief session of Congress on Thursday that didn’t take any steps toward coping with it.
On Friday, the crude happened to be a great boost in early deals because oil prices had some of their lost ground recovered. The EU’s gas and oil index SXEP went up by up to 1.6%.
TechnipFMC, Aker BP, Premier Oil, and Subsea 7 all tacked on 3.3%-5.8%.
Technology equities were the top-notch performers. The sector SX8P headed north by 1.9%. As for chipmaker AMS, it managed to top the STOXX, soaring by 6%. Besides this, Wirecard became the leader of the DAX, gaining 3.6%, while Logitech inched up by 3.7%.
As for banks, they surged too. UBS soared by 3.4%, while Commerzbank managed to ascend by 4.2%.
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.
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