The US authorities filed a lawsuit against Facebook - what are the implications?
European equities start higher in risk-on trade
On Friday, European equities started higher because market sentiment was still backed notwithstanding fresh diplomatic turmoil between Russia and America. Meanwhile, traders kept monitoring post-Harvey developments in Texas.
The EURO STOXX 50 soared 0.47%, Germany’s DAX 30 rallied 0.29%, while France’s CAC 40 grew 0.71%.
Renewed tensions arose after America has told Russia to shut down its consulate in San Francisco as well as buildings in Washington and New York, housing trade missions in retaliation for Moscow reducing the American diplomatic presence in Russia.
Meanwhile, market participants kept following developments in the American crude market because the Gulf Coast struggles to obtain gasoline flowing as refineries are still shut.
Financial equities were broadly higher because French lenders Societe Generale and BNP Paribas soared 0.31% and 0.67% respectively. At the same time in Germany Commerzbank inched up 0.24%.
Britain’s FTSE 100 surged 0.20%, backed by revenues in the mining sector.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.