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 go down on trade tensions
On Monday, European equities kept diving for a second day because concerns over a trade conflict between the United States and China kept market participants on the edge. Meanwhile, cable manufacturer Nexans slumped following a revenue warning.
The STOXX 600 index dived 0.6% after Donald Trump powered trade tensions by proceeding with his tough tariff stance on China’s imports, giving the Chinese government grounds to instantly respond.
Germany's DAX sank by 0.8%, suppressed by concerns that a downtime over migration policy could have Merkel's three-month-old coalition government destabilized.
Other suppressing factors for the German index were represented by software maker SAP, sportswear maker Adidas and industrial group Siemens – all of them declined 1%-1.9%.
France's Nexans went down 18.2%, while its Italian outcome headed south 2.2%.
French gas and power group Engie headed south by 2.2% having told unscheduled outages at its Belgian nuclear reactors are going to have an impact of nearly 250 million euros on its net and core revenue this year.
In general, deal-making activity powered stock moves.
Norwegian Air Shuttle ascended 8.5% after Lufthansa told it was cooperating with the Norwegian carrier as for a probable combination.
Norwegian drew attention of British Airways owner IAG. As a result, IAG managed to ascend 1.1%, while Lufthansa equities went down 0.1%.
In addition to this, mid-sized financial institution Virgin Money jumped by 2.5% after CYBG approved a 1.7 billion-pound deal to buy its counterpart, thus creating the UK’s sixth-largest financial institution. Meanwhile, CYBG managed to gain 0.1%, Virgin Money pared profits, being nearly intact.
Aerospace supplier Cobham tacked on by 5.5% following an upgrade to overweight. The upgrade was carried out by Morgan Stanley. Market analysts point out that the company’s current managers have managed to stabilize performance. All the necessary measures have been taken to ensure operational delivery.
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.