European stocks recover from five-month slump as traders wait for the ECP, US GDP and earnings wave

German Chancellor Angela Merkel wears a mask after a press conference on the new corona virus controls following her consultation with the prime ministers of Germany’s 16 federal states at the Chancellor’s Berlin on October 28, 2020.

fabrizio bensch / Agence France-Presse / Getty Images

European stocks stabilized on Thursday after ending the previous session at a five-month low, with investors reading the latest European Central Bank decision, the flood of corporate earnings and how the world’s largest economy performed in the third quarter.

Stocks Europe 600 SXXP, down 3% on Wednesday
0.5% higher.

German DAX DAX,
Up 0.6%, and the French CAC 40×1,
And UK FTSE 100 UKX,
+ 0.04%
More on the edge.

US stock futures YM00,
+ 0.22%

+ 0.74%
Technology companies Alphabet, including GOOG, have outperformed the rest
Amazon AMZN,
Apple AAPL,
And Facebook FB,
After closing hours. U.S. GDP is expected to show 33% annual growth in the third quarter.

France Germany on Wednesday announced separate new one-month locks to combat the second wave of the COVID-19 epidemic. Economists in Brenberg predict that the French economy will shrink by 4% in the fourth quarter and the German economy by 1%.

“In Germany these restrictions are less severe than they used to be, but the direction of travel may be on the wrong track. Said Jim Reid, a strategist at Deutsche Bank.

“Overall, with next week, it’s hard to imagine any meaningful recovery now [U.S.] The election has a long shadow. However, once that risk is over, investors can reconsider all the darkness, depending on the outcome of the course, especially if the pace of infection stops, ”said Marios Hadzigriagos, an XM investment analyst.

Customers view the evening broadcast address of French President Emmanuel Macron on October 28, 2020 at a hotel in Bordeaux, southern France.

Philip Lopez / Agencies France-Press / Getty Images

The European Central Bank meets on Thursday, in line with the central bank’s expectations It would suggest that it is open to more stimuli, but will wait until December to deliver it.

Royal Dutch Shell RDSA,
+ 1.43%

3% higher The oil company’s $ 955 million in revised earnings surpassed expectations of $ 6,146 million.

Nokia Nokia,

Fell 17% The telecommunications equipment maker has lowered its profit forecast for 2020 And introduced cautious guidance for 2021.

BT Team BT.A,
+ 2.90%
As 6% higher UK telecoms raised the low end of its profit forecast. French mobile operator Orange ORA,
+ 5.83%
Dividends rose again after being declared slightly better than third-quarter earnings.

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