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On Wednesday, European stocks went up for the fourth trading session because traders took heart from further indications of recovery in China as well as progress toward a probable trade agreement between China and America.
As a matter of fact, the pan-European index headed north by 0.7% reaching its highest value since August 10.
Germany’s trade-sensitive DAX managed to outperform peers, soaring by 1.2%. Britain’s FTSE 100 lagged because a strengthening UK pound put pressure on multi-national exporters that make the bulk of their earnings in foreign currencies.
In fact, all sectors excluding the food and beverage index rallied, with basic and resources as well as car shares leading gains.
On Tuesday, White House economic adviser Larry Kudlow told he expects China and America to demonstrate greater progress as the two leading countries proceed with their trade negotiations this week.
Market sentiment was also backed by reports that UK Prime Minister Theresa May requires another Brexit delay just to agree an EU divorce agreement with the opposition Labour leader.
China’s firm economic data backed market sentiment too. On Wednesday, the latest private business poll revealed that activity in China's services sector had jumped to a 14-month maximum in March because demand improved abroad and at home.
Another poll showed that activity in Spain's services sector had tacked on to its highest value for more than a year in March.
Banco de Sabadell SA headed north by over 3% because the banking group told it might sell Sabadell Asset Management SA that appears to be its asset management company.
Besides this, stocks of luxury goods maker Burberry Group inched down by 3% due to the fact that JP Morgan experts reduced its full-year gain estimate referring to the exposure to Brexit-related sterling volatility.
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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