Economy

European stocks and Dow futures fall as Goldman lows GDP outlook, citing lack of stimulus

On September 23, 2020, a woman rides a bicycle past a red light in Paris, France.

Christoph Archambold / Agencies France-Press / Getty Images

European stocks fell on Thursday and US stock futures weakened as investors largely abandoned the notion that the US Congress would provide new impetus, while worrying about the recent rise in COVID-19 cases.

Stocks Europe 600 SXXP, up 0.6% on Wednesday,
-0.70%
Fell 0.9%. The aviation industry had another difficult day with the Rolls Royce RR,
-3.81%,
International Airlines Group IAG,
-3.77%
And Airbus AIR,
-2.33%
Retreat.

German DAX DAX,
-0.30%,
French CAC 40×1,
-0.47%
And UK FTSE 100 UKX,
-0.56%
Each has been reduced.

U.S. stocks traded lower with the Dow Jones Industrial Average DJIA on Wednesday.
-1.92%
Retreats 525 points. Stock futures YM00,
-0.07%

NQ00,
-0.54%
Thursday was low.

Goldman Sachs economists halved their US growth forecast for the fourth quarter to 6% from 3%. “We think it is now clear that Congress will not attach additional financial incentives to the ongoing resolution. After the final round of additional unemployment benefits currently being offered, any financial support will have to wait until 2021,” economists said. The American House has already passed.

Germany’s IPO business climate index rises for fifth month According to data released on Thursday, this was very close to the expectations of economists, UK President Rishi Sunak is expected to take steps to replace the outdated jobs.

Ajay Rajadhyaksha, who is based in Barclays New York, Bank of Britain, told clients: “The rating gap between growth and value stocks is now so sharp that value stocks offer a positive asymmetry in the next phase of recovery, which could help European support and other non-US indices. ”

Moving stock, Suez SEV,
-3.52%
Shares fell 4% after its board of directors Its water subsidiary Suez e France has announced moves to block sales, As part of Suez’s widespread opposition to the acquisition of the Viola environment from VIE
-1.79%.

Smiths Team SMIN,
-6.52%
The shares are down 6%. The UK engineering team restored its dividend as its profit fell from a series of operations due to the planned split of Smiths Medical. Although Barclays analysts have not provided guidance, the company says its own estimates of a 5% organic sales decline and a 15% stable margin are “achievable” after the results.

Pets at home, for pets
+ 22.73%
Shares rose 20% as the UK pet supply retailer said profits would be ahead of the $ 73 million consensus. It said it had double-digit sales growth for the eight weeks from September 10th.

Thelma Binder

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