This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
European stocks go down
On Thursday, European stocks declined after a mixed pack of earnings from the region as well as worries for the euro zone economy resurfaced following a dismal German sentiment poll yesterday.
Eventually, the Finnish telecom network equipment maker went down by 10% that appears to be its steepest slump for 18 months after it posted a shocking quarterly loss, referring to hard competition in its core networks business.
The pan-European STOXX 600 index tumbled by 0.1% following an eight-session ascend in the benchmark index recorded on Wednesday.
Nokia's dive helped to bring the tech index 0.9% down after yesterday’s 4% leap.
The UK’s FTSE lagged, affected in part by the country's number three homebuilder Taylor Wimpey that warned its full-year margins would be a bit lower. Moreover, it also suppressed its peers.
Sainsbury's went down by 5% after the UK’s competition watchdog blocked the retailer's proposed 7.3 billion pound takeover of Walmart-owned Asda.
German heavyweight Bayer went up because the drug and farming supplies company reported a 45% leap in quarterly core earnings against the backdrop of seed maker Monsanto's acquisition.
Besides this, semiconductor maker ASM rallied by 7.8% to the top of the regional index having beaten first-quarter objectives, while Germany's Dialog Semiconductor headed north by over 1% having predicted higher than expected gains in the first quarter.
Aside from that, the banking index headed south by 0.3%, suppressed by Barclays as well as Swedbank stocks.
Britain's Barclays declined having posted a 10% dive in quarterly gain because its under-pressure investment bank struggled with tough financial markets.
Eventually, Swedbank declined more than 3% having posted an estimate-beating first-quarter gain because the Swedish lender admitted to previous faults in fighting money laundering.
Deutsche stocks jumped by 4.7%, while those of Commerzbank decreased by 2.5%.
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What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!