INGOT Brokers AU | European market report (2017-10-19)

European market report (2017-10-19)

Overview:

European markets were lower on Thursday on the back of mixed earnings announcements and the political tensions in Eurozone.

The single currency rose against the greenback and haven yen to trade at 1.1833 and 133.26 respectively at 18:20 GMT. However, the Euro fell against the Swiss Franc at 1.1548 at 18:20 GMT.

The primary European index Stoxx 600 fell by 0.63 percent or 2.45 points to close the session in the red at 389.11 pressured by the losses in all sectors except the sectors of Technology and Utilities where both added 0.25 percent and 0.17 percent respectively.

Tele2 share was the biggest gainer as it added 5.5 percent on the back of news the operator increased its guidance after the profits for the third quarter came higher than expected. Also, Travis Perkins stock rose by 2.2 percent on Thursday after the firm reported a rise in its sales growth.

In political news, The Spanish central government stated Thursday morning that it would move to suspend Catalonia's autonomy after regional leader Carles Puigdemont failed to drop a bid for independence or provide clarity on the matter.

FTSE100:

UK’s equities closed Thursday’s trading session in negative territory where its primary benchmark fell by 0.26 percent or 19.83 points to settle lower at 7,523.04 pressured by the losses in Consumer Cyclicals and non Cyclicals sectors.

Looking at individual stocks, Unilever fell by 5.5 percent today after the firm sated a slowdown in its revenues for the third quarter, the company added that its revenues pressured by the natural disasters and poor weather in Europe.

Moreover, London Stock Exchange stock ended in the red after its CEO announced that he would leave the business by the end of next year.

In the currency market, the sterling fell against the U.S dollar reaching 1.3153 at 18:20 GMT.

DAX30:

Also, German’s equities fell today as its main benchmark dropped by 0.41 percent or 52.93 points to close the session in negative territory at 12,990.10 as the losses in Telecommunication Services, Consumer Cyclicals, and non-Cyclicals sectors have weighed on the shares.

BMW AG fell by 0.9% following a downgrade to underweight from equal weight at Morgan Stanley, which said a slump in U.S. and U.K. demand and foreign-exchange headwinds were among risks facing the automaker, according to Dow Jones Newswires.

CAC 40:

Moreover, French’s shares ended today’s trading session on negative notes as French Primary index CAC 40 tumbled by 0.29 percent or 15.520 points to settle down at 5,368.29 pressured by the losses in Telecommunication services, Consumer Cyclicals and Technology sectors.

Looking at individual stocks, Publicis share sank by 7 percent after the firm reported lower than expected sales growth in the quarter ending September 2017. Moreover, Carrefour and Pernod Ricard added 3.4 percent each after the businesses published positive earnings reports.

 

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