European equities rebound

European equities rebound

On Friday, European equities rebounded because dismal data from China provoked anxiety over decelerating surge and traders fretted ahead of Saturday's decisive G20 negotiations between American President Trump and China's leader Xi Jinping over trade.

The n STOXX 600 started up, but quickly slumped into the negative, losing 0.3%. As for the DAX, it went down by 0.4% in Germany.

The DAX was braced for its fourth month of losses in a row. That’s its longest downtrend since 2008. As for the pan-European STOXX, it was braced for its second straight losing month due to a gloomy earnings season.

On Friday, China posted its weakest factory surge for more than two years, thus rekindling worries about surge ahead of important trade negotiations.

Autos equities SXAP turned out to be the worst-performing, losing 0.9% because the gloomy Chinese manufacturing data along with anxiety over potential levies affected investors' appetite for the sector.

On Saturday, Xi and Trump were set for negotiations on trade at the G20 summit in Argentina, while German automotive bosses were about to visit the White House next week with the aim of discussing threatened American levies on EU cars.

Car parts makers appeared to be among the worst-performing shares.  Hella, Valeo, and Faurecia declined by 2.4%-4.9%.

Daimler suppressed the DAX down with a 2.7% tumble, while peers Volkswagen and BMW went down by respectively 0.9% and 0.8%.

The European automotive sector is currently on track for its worst year since 2011 as traders dump the shares considered to be vulnerable to strengthening protectionism.

Mining equities SXPP went down by 1% after the dismal data from the world's number one metals consumer.

Among the greatest drags on the STOXX one should mention luxury goods conglomerates Kering.  Luxury equities have been extremely sensitive to signs of decelerating surge in China, which appears to be the major market for high-end brands.


Latest news

USD strengthened as optimism waned
USD strengthened as optimism waned

The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera