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.
European stocks stand still as Brexit impasse sinks in
On Wednesday, European stocks generally started flat due to the fact uncertainty dominated as for the UK’s plan to depart from the European Union, while no economic or corporate news turned out to be firm enough to shake the risk-off sentiment that spread from Asia overnight.
As a matter of fact, the pan-European STOXX 600 index headed south by 0.05%, having concluded the trading session 0.06% down on Tuesday because it became clear that Theresa May, UK Prime Minister would 100% lose a key vote in the country’s parliament on her orderly Brexit plan.
As for London's FTSE, it stood still too, heading south no more 0.1% due to the fact the British pound managed to recoup some of its losses from the previous trading marathon. The market value of the British pound accounted for $1.3142 in contrast with the outcome of $1.3060 recorded right after the vote. As for the currency pair EUR/GBP, it inched down to 0.8584.
Among individual equities, stocks in Germany's Adidas demonstrated the worst performance. Eventually, they went down by about 5.5% having announced that supply chain issues would have an impact on its sales surge in the first half of this year, and it’s especially true for North America.
Cash-rich Zara owner Inditex turned out to be another big loser. It headed south by about 4.7% having published annual gains a bit below experts’ expectations.
As for Wirecard, it became the third-biggest dive. Its stocks went down by nearly 4.3% due to the fact the company suspended an accounting staff member in Singapore against the backdrop of allegations of fraud as well as creative accounting.
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.
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.
Every week we expect many interesting events that can shake the market.