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European equities sink as financials sour Apple-led tech jump
On Wednesday, semiconductor firms' stocks turned to be a bright spot in early deals in a gloomy European market, suppressed by a dip among banks and mining stocks.
The STOXX 600 index along with euro zone blue chips tumbled 0.1%. In the UK FTSE 100 lost 0.2%.
Tech stocks demonstrated the strongest sectoral performance with Apple suppliers Dialog Semiconductor as well as AMS leaping respectively 5.7% and 3.3% after iPhone optimism raised Apple shares to a record maximum overnight.
The ascend in tech was not sufficient to compensate dips among mining companies and crude stocks, sagging on the back of weaker metals as well as crude prices.
Disappointing readings from Societe Generale and Commerzbank appeared to be a drag on euro zone financial institutions. The sector index went down 0.4%. Natixis rallied approximately 4% on the back of higher gains for the period.
Well-received earnings spurred equities in a gambling company William Hill that grew more than 7% to the top of the STOXX. Additionally, results also backed sizeable moves in Lufthansa and Hugo Boss.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.