European equities drop as earnings disappoint

27 January, 2016

The major European equity markets suffered losses as weak corporate earnings triggered concerns regarding the economic slowdown in Eurozone and across globe. Weak oil prices did not help matters either.

At the time of writing, the pan-European blue chip Stoxx 50 index was down 0.50%. Germany’s DAX was and France’s CAC were down 0.30% each. The mining heavy UK’s FTSE was down 0.35%. The Stoxx Europe 600 Index slipped 0.5% and is down more than 7.5% so far this month. 

Shares in BASF SE lost 2.9% after the world’s largest chemical maker said it suffered a Euro 600 million ($652 million) loss in the fourth quarter because of lower oil and gas prices. Novartis AG dropped 2.6% after it reported a weaker-than-expected fourth quarter earnings.


Source link  
Gold holds steady near 6-week highs

Gold trimmed of the early gains to a six-week high and retreated to the $1262 region during early the European session, albeit has managed to hold...

USD stays under pressure on politics

The US dollar inched up from a 13-month low against a basket of six major currencies touched in early trading, assisted by strongerthan-expected...

Dollar rebounds from multi-month lows

The greenback selling pressure seems to have abated for the time being, with the key US Dollar Index (DXY) bouncing off 9-month lows...


EUR/GBP jumps to fresh yearly tops

The EUR/GBP cross was seen building on previous session's strong up-move and has now jumped to fresh yearly tops near 0.8875...

USD: Fed being a little more hawkish

The dollar picked up over the past week, and this continued to be in reaction to a Fed that is being a little more hawkish...

EUR sluggish in recent weeks

EUR has also been surprisingly soft in light of the convincing win by French President Macron...


EUR/USD sinks to session lows

The single currency is now losing the grip vs. the buck, sending EUR/USD to test the area of daily lows in the 1.1240/30. Spot met extra downside pressure...

Euro is consolidating below the 1.1300

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair still points to some consolidation...

Dollar Index rebound looks plausible

In view of the analysts at Societe Generale, the Dollar Index correction appears to have come...

  


Share: