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.
Key European indexes are mixed
On Wednesday, EU markets were generally mixed in the face of a worsening political downtime in the eurozone's number three economy.
The European index Stoxx 600 didn’t change during the morning trading session, with sectors as well as large exchanges pointing in opposite directions.
As for the national indices, the Italian FTSE MIB revived a bit after fixing steep losses in recent days. Italy's political issues stirred global financial markets in the face of news about the prospects for early elections in Italy, which could be called a referendum on the role of the country in the European Union.
The European banking index led losses, losing more than 0.7% because traders feared that political turmoil in Italy could ultimately impact the banking system of the region. As a matter of fact, Credit Agricole, Close Brothers Group and Credit Suisse turned out to be the worst sectorial performers after the opening of the markets - all slumped by more than 1%.
Meanwhile, Umicore in Belgium managed to ascend to the top of the index after ING raised the target price of equities of the group of global materials technologies as well as processing. These stocks edged up by 2.5%.
In Asia, on Wednesday, shares dived because the power struggle in Italy influenced the global financial markets. The largest MSCI index in the Asia-Pacific region, excluding Japan, went down 1.5%.
Meanwhile, the echoes of Italy’s political coup also provoked a steep dive on Wall Street. Stock indices in the United States were weakened by a sag in the banking sector. The Dow Jones industrial index headed south by nearly 400 points, while the S&P 500 along with Nasdaq dipped too.
It was a third losing consecutive trading session for the Dow and S&P 500, with both indexes facing their worst day on a percentage basis since April 24.
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.
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.