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European shares sink ahead of EZ inflation data
On Friday, European shares headed south, as traders were eyeing the publication of euro zone inflation data, after a downbeat reading in Germany on Thursday.
The EURO STOXX 50 decreased 0.26%, France’s CAC 40 lost 0.22%, Germany’s DAX 30 dived 0.02%.
European equities sagged after data on Thursday, which revealed that German annual inflation decreased to 1.6% this month from February’s outcome of 2.2%, which turned to be the highest rate since August 2012.
The report arose after ECB chief economist Peter Praet told that the bank is still not sure that the recent pickup in inflation will be durable enough and repeated that underlying inflation pressures is still subdued.
Financial markets were also anxious after on Wednesday, British Prime Minister Theresa May formally started Brexit proceedings, thus launching a two-year negotiation process before the move comes into effect in March 2019.
In London, FTSE 100 went down 0.29%, suppressed by Old Mutual PLC, whose stocks dipped 6.59%.
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.