European equities stand still as world braces for trade conflict
On Friday, European equities started in positive territory due to the fact the trade clashes between China and the United States intensified, with American duties on $34 billion on Chinese imports coming true and China instantly responding.
The STOXX 600 index managed to ascend by 0.3%, Germany's exporter-heavy DAX inched up by 0.2%.
As for Chinese stock markets, they tacked on in late trading having reached two-year minimums in the morning trading session.
A great number of market participants are assured that the European bloc is going to stay on the sidelines of the trade conflict. They also suggest that the American confrontation with China appears to be a typical negotiating posture that won’t provoke a slump in global trade.
With high expectations for another corporate earnings season bursting out in less than two weeks, a lot of market participants didn’t want to have European stocks sold.
As some sources revealed, second-quarter revenues for STOXX 600 companies are supposed to edge up about 8.7% from the same period of 2017.
As for individual equities, stocks in Britain's Inmarsat reported the worst performance, inching down close to 9% right after it had a takeover offer from Echostar rejected.
Additionally, Swedish lock maker Assa Abloy went down abruptly, losing 7% having reported a one-off costs of 6 billion crowns.
Meanwhile, Altice Europe tacked on by 4.7%. It’s because speculation about probable mergers within France’s telecoms are actually resurfacing, while French conglomerate Bouygues told it was ready to grasp opportunities to have its telecoms business beefed up.
Germany's Thyssenkrupp managed to ascend by 3.4% after its CEO proposed to step down, pointing to soaring investor pressure for a greater restructuring of the group.
As for the equities of French investment group Eurazeo, it tacked on by 4.5%, which is the STOXX 600's top performance.
Similar
The US-China trade war escalates
More tariffs were introduced
Stocks of technological companies fell, pay attention to earnings
Yesterday, the US Justice Department announced a broad antitrust review ...
Futures head south after China data points to decelerating retail sales
On Wednesday, American stock index futures headed south because dismal data out of China affected market sentiment, while traders waited for more developments related to the US-China trade conflict…
Latest news
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
Deposit with your local payment systems
