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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.
On Wednesday, European equities surged due to the fact that Italian financial institutions rebounded on expectations that Rome could come to a compromise with Brussels over its budget plans…
On Wednesday, Asian equities kept rebounding following a steep dive on Wall Street overnight…
On Tuesday, American futures declined by 1% because a technology rout in the previous trading marathon provoked by fears over iPhone sales affected investors' appetite for high-surge companies…
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…
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