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 keep diving
On Thursday, European equities proceeded with their downward move, affected by dismal earnings updates, a dive in Italian financial institutions on everlasting uncertainty over the outlook for Italy’s finances.
As a matter of fact, STOXX 600 headed south by 0.5%, with most sectors staying in the red after broad-based profits in the previous trading session, which helped the pan-European index to rebound from near two-year minimums.
Moreover, uncertainty over Brexit, Italian politics as well as worries over decelerating economic and also earnings surge have discouraged traders from taking risks because major financial institutions take steps to conclude years of easy monetary policy.
In addition to this, Centrica inched down by 8.7%, leading losers on the STOXX 600 following its trading update. By the way, financial analysts at Jefferies told that even although the company affirmed some its debt as well as dividend objectives for 2018, its earnings per share guidance slumped 10% below consensus.
Rotork appeared to be another big dive in the European bloc, heading south by nearly 7.1%, following a 4% tumble in its order intake.
Aside from that, Telecoms firm Altice went down by 13%. It occurred to the fact that its third quarter core earnings went down by almost 7% because of heavy promotions to win clients.
What’s more, Italian financial institutions FTIT8300 went down by 1.9% because Deputy Prime Minister Matteo Salvini pointed out that the Italian cabinet wouldn’t backtrack on the budget law after a rejection by the EU Commission. By the way, Banco BPM turned out to be the second-biggest diver in Milan, decreasing by 2%.
As for bearish bets on a number of Italian financial institutions, they have headed north for the last weeks, thus reflecting their dim revenue outlook as well as fears over the euro zone's number three economy.
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.