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?
HSBC and miners lift European equities
On Monday, firm revenues among mining stocks as well as an HSBC-led soar in banks raised European stocks in early deals, putting the region's shares on track to conclude the month with a moderate profit on the final trading day of July.
The STOXX 600 index gained 0.4%, blue chips grew 0.3%. In the UK the commodity-heavy FTSE 100 index ascended 0.7%, and Germany's DAX rallied 0.2%.
Financials appeared to be the biggest boost to the STOXX, with financial institutions up 0.8%, pushed up by a 3.4% profit in HSBC that soared after the lender reported a forecast-beating 5% growth in the first half pretax profit and unveiled its third buyback in a year.
Mining companies were also good performers on the day, leaping 1.5% because copper prices surged on the back of China’s manufacturing data, the world's top consumer of metals.
British tobacco companies Imperial Brands as well as British American Tobacco managed to extend their losses from last session, sliding 3% and 0.7% respectively reacting to Friday's sell-off right after the US Food and Drug Administration proposed reducing nicotine in cigarettes.
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 UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.