When is Google's stock split? Alphabet, the parent company of Google, will make the 1:20 split on July 15…
European equities keep diving as soaring trade worries weigh
On Friday, European equities declined, with cars as well as basic resources equities facing the brunt of a wide sell-off provoked by mounting concerns that American duties on $60 billion of Chinese imports could step up.
All sectors found themselves in negative territory, bringing pan-regional STOXX 600 benchmark down for a second day – it lost 1.4% demonstrating its lowest value since February 2017.
Market participants closely watched China’s response that urged America to give up this policy on Friday and also revealed its own plans to impose duties $3 billion of American imports.
Despite risks that the duties could trigger a full-blown trade conflict, some traders told that they aren’t assured that it might take place, pointing out that the retaliation measures rolled out by China are relatively moderate.
However, caution pushed market participants into defensive equities, such as utilities as well as telecoms that went down by less than 1%, although left the broader market behind because they are considered to be less vulnerable a deterioration in the world’s trade.
Euro zone indexes, with the export-sensitive DAX dived more 1.8%, although stood above early March minimums, while the FTSE declined 1.1% to fresh 15-month minimums hit on the back of a growing pound.
On Friday, among the few top notch performers were equities in metal miners Randgold, Polymetal and Fresnillo. All of them gained 0.5%-1.5% because the gold price tacked on the back of soaring demand for safe haven assets.
Among the companies, affected by American aluminum and steel tariffs, equities in car makers Fiat Chrysler as well as BMW inched down respectively 2.5% and 2.1%, while steel tube maker Tenaris declined 4.1% and ThyssenKrupp lost 2.7%.
Additionally, GSK tacked on 2.9% having pulled out of the bidding fight for Pfizer's health business.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!