On Monday, escalating US-Chinese trade tensions impacted European equities due to the fact that market participants fled risk at the beginning of a highly uncertain week, with the UK’s parliamentary vote on Brexit looming too as well as chemicals shares…
European equities start sideways as profits roll in
On Monday, Spanish shares started 1.4% higher, backed by weekend demonstrations for a unified Spain as well as a survey demonstrating a lead for parties opposing Catalan independence.
Meanwhile, broader European shares demonstrated mixed performance.
The STOXX 600 index slid 0.1%, although Spain's IBEX benchmark rallied, led by Caixabank as well as Banco de Sabadell, stocks in which edged up respectively 4.2% and 3.6%.
Spain's state-owned lender Bankia rallied 11%.
In London, stocks in HSBC went down 0.6% notwithstanding a five-fold leap in its quarterly revenues.
Glencore rebounded 1.55 having raised its earnings guidance. Moreover, it reacted to a report telling that it would dare to cancel its secondary listing in Hong Kong because of lack of interest from market participants.
The FTSE 100 went down 0.2% in the beginning of a week, which could see the BoE lift interest rates for first time since 2007.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…