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Key EU indexes tack on
On Monday, European markets ascended amid corporate news about potential mergers as well as acquisitions.
The European index Stoxx 600 went up by 0.5% during the morning trading session, with all sectors as well as large exchanges concluding up.
Equities of energy companies in the European Union spearheaded surge, adding 2%. Severn Trent, Italgas and Iberdrola turned out the best performers in the sector, demonstrating a 3% leap.
At the same time the regional banking index attracted tons of attention after a week of political downtime in Spain and Italy. EU financial institutions soared 1% after the Financial Times informed that the French bank Societe Generale as well as the Italian rival Unicredit are considering the likelihood of a merger.
As for individual equities, the French airline Air France KLM got to the top of the EU index after on Sunday AccorHotels told that it’s considering purchasing a stake in the company. As AccorHotels informed, it earlier conducted talks with Air France on the likelihood of developing joint projects. As a matter of fact, Air France's shares went up over 7%, while AccorHotel dived to the bottom of the index- declining nearly 6%.
In Great Britian, on Sunday, Clydesdale and Yorkshire Bank told that it raised its offer to purchase a competing financial institution Virgin Money. Apparently, the given deal will generate the sixth largest lender in Great Britain.
Moreover, among the member states of the European block, in Slovenia preliminary results disclosed that the anti-immigration party managed to win the parliamentary elections that took place on Sunday.
Angela Merkel, German Chancellor commented on the situation in the EU in a recent interview, which showed up on Sunday. So, the key German statesman backed the call of Emmanuel Macron, its French colleague to solidarity within the EU.
The oldest US aluminum company Alcoa will post its earnings report for the fourth quarter of 2019 on January 16 at midnight.
Three major US banks publish their quarterly earnings on Tuesday and Wednesday. How do we use it in trade?
The Bank of Canada (BOC) will release its rate statement alongside the monetary policy report during its meeting on January 22 at 17:00 MT time.
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This week will bring us central bank statements and important economic indicators related to the main currency pairs. Read on to see which ones will be affected.