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 stocks jump after Italian bank bailout
On Monday, European equities leapt because Italy announced that it would pay €17 billion in taxpayers’ money for the purpose of bailing out two of its regional banks.
The Euro Stoxx 50 surged 0.91%, Germany’s DAX 30 gained 0.71% and France’s CAC 40 added 1.04%.
On Sunday, the Italian government announced its intention to wind down Banca Popolare di Vicenza along with Veneto Banca.
As part of this deal, the country’s largest retail bank Intesa Sanpaolo is bound to get the good assets from both lenders as well as €4.8 billion from the government just to sustain its capital ratio.
Aside from that, Rome will ensure state guarantees for the nonperforming loans, which could reach €12 billion.
Meanwhile, Italian bank stocks climbed up on the back of the news with UBI Banca, Intesa, UniCredit, Mediobanca, Banca Pop Emilia Romagna as well as Banco Bpm all surged more than 2% on Monday.
In London, the FTSE 100 inched up 0.55%.
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.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.