The US authorities filed a lawsuit against Facebook - what are the implications?
European equities conclude flat
On Monday, Europe’s key stock gauge concluded a bit changed, with market experts pointing to uncertainty over global trade clashes. Eventually, trading could be muted because American investors take a break for the national holiday - Labor Day.
The Stoxx Europe 600 SXXP concluded 0.1% up reaching 382.51 following Friday’s 0.8% sink that enabled it to lose 2.4% for August.
The pan-European gauge is showing a decline of nearly 2% for the year to date.
The DAX 30 lost 0.1% in Germany hitting 12,346.41. At the same time, the CAC 40 PX1 added 0.1% in France being worth 5,413.80. The FTSE 100 rallied by 1% showing 7,504.60, getting a boost from the UK pound’s sink that took place because a major European Union official had Britain’s Brexit plan criticized.
The currency pair EUR/USD hit $1.1621, adding a bit from $1.1604.
Trade negotiations between American and its partners have generated volatility in global financial markets for the last time. Additionally, market participants paid attention to Trump’s current stance toward Canada.
Earlier US leader wrote on Tweeter that there’s no overriding political imperative to have Canada included in an updated version of the North American Free Trade Agreement.
US President’s remarks showed up after a tentative pact with Mexico to rewrite Nafta indicated that the US government is about to compromise on its demands and also avert devastating trade wars.
The equities of Dechra Pharmaceuticals PLC DPH headed south by 21%, thus becoming the Stoxx 600’s most impressive sink after the company, specializing in producing pharmaceutical products for pets told that its pretax revenue grew a bit because increased costs mostly balanced out revenue surge.
In addition to this, WPP PLC’s stock WPP managed to conclude the trading session 0.2% down, thus providing a moderate morning gain, which showed up after the advertising giant chose Mark Read as its fresh CEO.
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Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.