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.
Italian budget fears suppress stocks
On Wednesday, Italian stocks led losses in the European Union right after the country's deputy prime minister told that Rome considers breaking EU fiscal rules, thus masking early revenue powered by optimism around the US-China trade conflict.
The pan-European STOXX 600 index headed south by about 0.1% suppressed by a 0.7% tumble in the bank-heavy Italian index.
On Tuesday, Italy's deputy prime minister Matteo Salvini's remarks from Tuesday have drove worried about the country's high spending, affecting Italian financial institutions.
Besides this, the European banks went down by 0.3%, suppressed by some gloomy earnings.
Additionally, Raiffeisen Bank International as well as Dutch bank ABN Amro both missed revenue expectations. Moreover, French bank Credit Agricole's first-quarter net gain headed south after two one-off events compensated gains in some of its businesses.
Furthermore, British bank CYBG Plc tacked on by 4% having reported the first-half gain.
European markets faced a firm rebound from two-month minimums on Tuesday after American leader adopted a softer tone on trade after a recent flare-up in tensions between China and America, with both sides imposing tariffs on each others' goods.
Cars that were among the top-notch performers yesterday, went down by 1.1%, suppressed by stocks of Volkswagen and Renault.
London's FTSE 100 managed to outperform its counterparts. Eventually, the blue-chip index was backed by Compass Group stocks after the caterer had its full-year gained outlook raised.
Besides this, E.ON slumped over 5%, finding itself the top losers because Goldman Sachs had the energy company's stock downgraded. Its counterpart RWE went up having beaten quarter gain expectations.
The latest data indicating that the euro zone economy speeded up in the first quarter of this year and backed a rebound in the German economy didn’t manage to improve market sentiment.
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.