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?
European stock indices change a bit
On Monday, European stock indices changed a bit and in different directions, as market participants keep evaluating corporate news.
In addition, many traders worry about the possible escalation of the conflict in Syria. At the weekend, the forces of the international coalition delivered air strikes on facilities in this Middle Eastern country. Russia has condemned such actions, but hasn’t taken retaliatory measures yet.
The index of the leading enterprises of the region Stoxx Europe dropped by 0.07% hitting 378.92.
The British FTSE 100 headed south 0.24%. The French CAC 40 inched up by 0.05%, the German DAX lost by 0.12%. At the same time Spanish IBEX 35 and Italian FTSE MIB managed to grow respectively 0.11% and 0.19%.
The shares of Shire Plc soared by 1.1%. The Irish pharmaceutical company, specializing in the treatment of rare diseases, announced the sale of a unit for the development and production of oncological preparations of the French Servier SAS for up to $2.4 billion.
Meanwhile, the capitalization of the world's number one advertising company WPP Plc slumped by 4.3%. The director general of the company, Martin Sorrell, resigned having finished an investigation into allegations against him in connection with abuse of office, waste of company funds as well as improper conduct.
Prior to the appointment of the new CEO, Mr. Sorrell's duties will temporarily move to Roberto Quarte, the chairman of the board of directors of the company.
The price of securities developer Sage Group software declined 3.2% after Friday’s 8.2% sag, when the company steeply reduced its annual revenue estimate.
The value of Whitbread, the owner of the Costa Coffee chain, tacked on 6.6% on reports that Elliott Management had turned to be the owner of more than 6% of the company and it’s currently its largest shareholder.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
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.