European stock indices stand still, equities of banks head north

European stock indices stand still, equities of banks head north

On Thursday, European stock markets stood still in the beginning of the trading session. At the same time the publication of the next portion of corporate reports definitely offset the dive in BT equities due to the quite downbeat outcomes along with weakness of other utilities.

The surge in shares of RBS, which managed to come to an agreement with the United States of America in the investigation of the sale of mortgage-backed securities, as well as sound reporting by the largest financial institution of Italy dubbed UniCredit underpinned the banking sector. Aside from that the Pan-European index STOXX 600 traded nearly intact.

In addition to this, equities of British BT were caught inching down up to 7.8% right after the company announced its intention to cut about 13,000 jobs just to proceed with its quite ambitious plans to have itself restructured.

As a matter of fact, RBS securities inched up 4.6% after the bank agreed to shell out up to $4.9 billion, which is less than a great number of financial analysts had hoped for, just to settle US claims in the investigation of transactions with mortgage-backed securities.

The British FTSE index, however, headed south about 0.1% in the run-up to the Bank of England meeting on monetary policy. As expected, the regulator is going to leave interest rates intact.

UniCredit managed to ascend up to 1.9% because the financial institution reported a profit of about 1.1 billion euros for the first quarter. The given reading turned to be the best outcome since 2007 and even surpassed market expectations.

At the same time, the utilities demonstrated weakness, heading south about 0.8%, finding themselves among the leaders of the industry indices in Europe, amid a gloomy report from the Italian Enel.

Similar

Key EU indexes head south

On Wednesday, European stock indexes went down amid uncertainty with the Italian government as well as worsening market sentiment about the everlasting trade talks between the two largest economies of the world…

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera