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On Friday, European stocks slumped, suppressed by financial institutions, while lingering fears over global surge kept traders on edge before the crucial earnings season in America.
The STOXX 600 index slumped by 0.2%, finding itself on track to conclude the week lower after two winning weeks. All key markets in the region headed south.
Fears about sluggish global surge were backed this week by major financial institutions in the euro zone and America that maintained their dovish stances and warned of risks to the global economy.
Wall Street banks Wells Fargo and JP Morgan are expected to post outcomes on Friday, thus staring an American earnings season that experts expect will see the first year-on-year dive in quarterly profits since 2016.
In addition to this, UniCredit and Banco Santander pulled the banking sector down 0.5%, while all other EU sectors decreased or remained intact.
Eventually, Banco Santander slumped by 0.8% right after the Spanish bank came up with an offer to acquire the 25% stake it doesn't have in its Mexican unit in an all-share deal worth approximately 2.6 billion euros.
Besides this, UniCredit dived by 1% after Italy's leading financial institution told it appears to be one of the banks blamed for running a cartel in trading euro zone government bonds in 2007-2012 as financial downtimes put pressure on banks as well as several European economies.
In addition to this, London-based online trading platform Plus500 headed south by nearly 37% because gain for the first quarter decreased to a fifth of the previous year's, affected by a tumble in trading volumes.
Volkswagen went down because China's JAC Motors told that the two companies hadn’t held negotiations, notwithstanding reports VW was interested in grasping a stake in the Chinese electric-vehicle maker.
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.
Richard Branson offloaded nearly 10 million shares, which equals about 4% of the Virgin Galactic stock, leaving him with an 18% stake.
Today at 00:00 GMT+3 SPCE will present the second quarter 2021 financial results. We will get to know everything about the company's financial condition and plans.
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.
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