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.
January 20, 2017 The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
January 20, 2017 A huge disappointment in the UK data
UK retail sales fell most since 2012. We see he fastest pace of decline in almost five years in December. It is due to sales of... pretty much everything from household goods to clothing and food...
January 20, 2017 Trump takes office today. Markets await inauguration speech
Investors await Trump's inauguration and speech due later today as he takes office as the 45th President of the United States. The U.S. dollar was seen giving up some of the gains yesterday with some volatility coming off the EURUSD on the back of the ECB meeting...
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