Virgin Galactic’s Branson flew to space, but the stock of Virgin Galactic (SPCE) dropped. Why?
Stoxx Europe 600 ceases diving
On Friday, the pan-European stock index finally stopped declining, posting a moderate profit. Nevertheless, it didn’t manage to avert reporting its worst week since late March because fears about trade clashes with America affected market sentiment.
The equities of Shares of Deutsche Bank put pressure on the overall sentiment right after China’s HNA told that it was about to pull out an investment in the beleaguered German investment financial institution.
The Stoxx Europe 600 SXXP rallied by 0.1% showing 373.77 having slipped by 0.6% on Thursday.
The European equity benchmark averted a four-session slump that would have matched its longest losing marathon since March 23.
The DAX 30 rallied by 0.1% in Germany coming up with 11,959.63 - worst weekly performance. Meanwhile, the CAC 40PX1 jumped by 0.2% showing 5,252.22. The FTSE 100 UKX lost 0.6% in Great Britain demonstrating 7,277.70.
The currency pair EUR/USD hit $1.1632, a bit firmer versus the evergreen buck in contrast with $1.1624 late Thursday. The currency pair GBP/USD hit $1.2966, adding from $1.2928.
The US Labor Department data disclosed that up to 201,000 jobs were generated in August, surpassing forecasts for 192,000 extra jobs. Moreover, average hourly earnings rallied, adding 2.9% from 2017. Besides this, the unemployment rate stood still at 3.9%.
Firm economic data in America, the world’s number one economy, is capable of impacting trading sentiment in the European Unon.
The equities of Deutsche Bank DB headed south by 1.5% following reports that China’s conglomerate HNA Group 000616, which is one of the financial institution’s largest shareholders, was eager to sell its 7.6% stake in the company.
The equities of Swedish Orphan Biovitrum AB SOBI turned out to be the top loser, decreasing by 8.30%. Altran Technologies SA ALT tumbled by 5.8%.
Moreover, Iliad SA’s stock ILD jumped by 5.9%.
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…