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Europe Markets Closing Report on Wednesday 19, February 2020.

European stocks close higher as investors monitor coronavirus, economic data

Elliot Smith

European stocks closed higher on Wednesday as investors monitor the spread of the new coronavirus and fresh economic data.
The pan-European Stoxx 600 closed provisionally up by around 0.8%, having notched a fresh record high earlier in the session. Technology shares led the gains with a 1.4% jump as all sectors and major bourses traded in positive territory.
China’s National Health Commission said that as of Tuesday night, a total of 74,185 cases of the new coronavirus had been confirmed in the country and 2,004 people have died. A slight slowing of the rate of new cases has lifted investor sentiment, while markets are also monitoring China’s attempted return to production following a prolonged shutdown which has sparked fears over global supply chains.
On Wall Street, equities rose with tech shares leading the gains. The Dow Jones Industrial Average climbed 150 points while the S&P 500 and Nasdaq indexes were also positive.
Back in Europe, the EU opened a 12-week period of discussion on Wednesday aimed at better understanding how to protect EU citizens from what it describes as the negative impacts of AI. The bloc is also looking to rein in U.S. data behemoths like FacebookGoogle and Amazon.
Meanwhile the EU’s top competition chief, Margrethe Vestager, told CNBC on Tuesday that the prospect of the U.S. government taking a stake in top European 5G players Nokia and Ericsson was not off the table, providing there is no security risk.
Both the EU and the U.K. have struck defiant tones ahead of negotiations over a new trade deal following Britain’s exit from the bloc, and Reuters reported Tuesday that the EU had hardened its stance, demanding fair competition guarantees which will “stand the test of time.”
On the data front, U.K. inflation unexpectedly hit a six-month high in January, with consumer prices rising at an annual rate of 1.8% versus 1.3% in December. The proximity to the Bank of England’s 2% target means the central bank will likely steer clear of rate cuts in the immediate future.

Stocks on the move

Puma shares jumped 11% after the German sportswear brand beat fourth-quarter sales and earnings expectations, and said it still hopes to reach 2020 targets despite an expected first-quarter hit from the coronavirus outbreak.
Deutsche Telekom on Wednesday forecast that growth in its core earnings would slow to 3% this year after a strong fourth quarter. Europe’s largest mobile operator projected adjusted earnings before interest, taxation, depreciation and amortization hit 25.5 billion euros ($27.5 billion), missing analyst expectations. Deutsche Telekom shares gained 4%.
At the bottom of the European benchmark, NMC Health fell 7% as Krupa Global Investments confirmed that it will not take a strategic stake in the Abu Dhabi-based hospital chain after key board members stepped down over share holding disclosures.
Ageas shares meanwhile fell 5% after the Belgian insurer missed full-year earnings expectations and warned of the direct impact of claims linked to the coronavirus outbreak.

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                               On Tuesday 18, February 2020

Europe stocks close lower as Apple warns of coronavirus revenue hit

Elliot Smith

European stocks closed lower on Tuesday after Apple warned it may fall short of revenue forecasts on the back of the coronavirus outbreak, as fears over the potential economic fallout persist.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7379.58-53.67-0.72483106620
DAXDAXDAX13682.59-101.30-0.7357453948
CACCACCAC6060.79-25.16-0.4155733782
The pan-European Stoxx 600 closed provisionally down by around 0.5%, with most sectors and major bourses in the red. Basic resources stocks shed 2.1% to lead losses while telecoms shares bucked the trend to climb 1.1%.
Tech giant Apple on Monday warned that it does not expect to meet its second-quarter revenue forecast due to lower global iPhone supply and weakened Chinese demand and production as a result of the coronavirus outbreak.
As of Monday night, China’s National Health Commission said a total of 72,436 people are confirmed to have contracted the new coronavirus and 1,868 have died.
Apple suppliers led a sell-off in Asia overnight, with shares in Hong Kong, Japan and South Korea all tumbling more than 1.3%. On Wall Street, shares retreated from their record highs, with the Dow Jones Industrial Average down 190 points.
Euro zone finance ministers met Monday to discuss fiscal policy options in a bid to boost the bloc’s sluggish economy, with fears of a downturn growing in the wake of the coronavirus outbreak.
On the data front, U.K. employment jumped again in the final quarter of 2019, seemingly defying a broader economic slowdown. However, total earnings growth including bonuses rose by an annual 2.9%, its weakest increase since the third quarter of 2018.
The ZEW economic sentiment index showed that German investor confidence deteriorated drastically in February amid fears over the impact of the coronavirus on global trade. The monthly survey showed economic sentiment fell to 8.7 from 26.7 in January, against analyst expectations of a 21.5 reading.

Stocks on the move

Individual share price action was also being driven by earnings reports and news of corporate deals across the euro zone.
HSBC reported on Tuesday that it had missed 2019 earnings expectations to record a 32.9% fall in pre-tax profit. Europe’s largest bank also announced a major overhaul that will result in 35,000 job cuts over the next three years. The firm’s London-listed shares tumbled over 6% to the bottom of the Stoxx 600.
French rail company Alstom has agreed to acquire the rail division of Canada’s Bombardier in a deal worth up to $6.7 billion. Alstom shares slid 2.5% lower.
Italian bank Intesa Sanpaolo on Monday launched a 4.86 billion euro ($5.3 billion) takeover bid for domestic rival Ubi BancaUbi Banca shares surged 23% to lead the Stoxx 600, while Intesa added almost 2%.
Germany’s Thyssenkrupp has identified two potential private equity consortia for the sale of its 16 billion euro elevator unit, after Finland’s Kone pulled out of the deal. Thyssenkrupp shares fell 5%.
European semiconductors suffered the brunt of the fallout from the Apple announcement. Dialog Semiconductor and ASMI both dropped more than 4% while STMicro and AMS also declined.

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                                   On Monday 17, February 2020

European stocks close higher as traders monitor coronavirus

Elliot Smith

European stocks closed higher Monday after China’s central bank cut interest rates in a bid to aid its economy amid the coronavirus outbreak.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7435.0525.920.35247918704
DAXDAXDAX13782.2938.080.2842746203
CACCACCAC6086.1816.830.2837720346
The Stoxx 600 closed provisionally up more than 0.3%, with the pan-European benchmark hitting a fresh record high. Autos climbed 1.2% to lead gains while tech stocks bucked the risk-on trend to fall 0.3%.
The People’s Bank of China, or PBOC, announced on Monday that it would provide medium-term funding of 200 billion yuan ($29 billion) to commercial lenders and cut its main interest rate by 10 basis points to 3.15%.
The move is intended to shield the economy from the fallout of the coronavirus, which has now infected over 70,000 people and killed 1,770, according to China’s National Health Commission.
Shares in mainland China led upward momentum for Asian markets overnight, with the Shanghai composite index up over 2% and the Shenzhen composite adding 3%.
U.S. markets were closed Monday for the President’s Day federal holiday, having closed little changed on Friday to finish out a positive week on Wall Street.

Stocks on the move

Corporate earnings remain in focus. French auto parts maker Faurecia said market conditions would be tough in 2020 despite reporting a rise in full-year net profit and sales on Monday morning.
Faurecia stock climbed 6%, while Italy’s Interpump Group led individual stock gains with a 7.5% rise. Compatriot lender Ubi Banca added over 5% after announcing plans to improve profitability and cut 10% of staff by 2022.
At the other end of the European index, Tullow Oil stock fell 3% after an unsuccessful offshore exploration in Peru was abandoned.
Semiconductor stocks tumbled, with STMicroASMIAMS and Dialog Semiconductor all falling more than 2.5%. It comes after Reuters reported Monday afternoon, citing sources, that proposed manufacturing equipment limits could impact the semiconductor industry beyond China.

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                                 On Friday 14, February 2020

Europe markets close mixed as traders weigh earnings, coronavirus; RBS falls 7%

Chloe Taylor

European markets closed mixed Friday as investors monitored China’s coronavirus epidemic and a slew of corporate earnings.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7409.13-42.90-0.58629855028
DAXDAXDAX13744.21-1.22-0.0166314909
CACCACCAC6069.35-23.79-0.3977985536
The pan-European Euro Stoxx 600 index closed provisionally slightly lower with major bourses and sectors pointing in different directions.
China’s National Health Commission on Friday reported an additional 121 deaths and 5,090 new cases of the coronavirus across the mainland for Feb. 13.
China’s health commission said Friday it removed 108 deaths from the total figure due to a double-count in Hubei province, the epicenter of the global coronavirus outbreak. The pneumonia-causing virus has killed a total of 1,380 people in mainland China as of the end of Thursday, the commission said in its Chinese-language daily online report.
Globally, market participants are monitoring the outbreak and updates on how badly it could dent growth in the world’s second-largest economy
On Wall Street, equities traded along the flatline with investors digesting the release of disappointing consumer data and strong earnings.
Back in Europe, Rishi Sunak was announced as Britain’s new finance minister on Thursday, taking over from Sajid Javid who resigned amid a reshaping of the government orchestrated by Prime Minister Boris Johnson. The FTSE 100 was down around 0.6%.
On the data front, euro zone economic growth slowed as expected in the last quarter of 2019 with a figure of 0.1%. A figure for Germany earlier in the session showed its economy stagnated during the fourth quarter of last year.
Meanwhile, earnings were a major focus for European investors. Renault shares fell slightly after reporting a surprise 2019 loss.
AstraZeneca shares were down 4% after it said its 2020 sales growth would take a hit from the coronavirus. And RBS shares sank 7% after it scaled back its returns target and slashed its investment back.


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European markets close lower as coronavirus concerns persist; oil and gas stocks lead losses

Chloe Taylor

European shares closed lower on Thursday as the spread of the coronavirus remained the primary focus for investors.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7452.03-82.34-1.09823565387
DAXDAXDAX13745.43-4.35-0.0392086973
CACCACCAC6093.14-11.59-0.1992665705
The pan-European Stoxx 600 was provisionally closed 0.15% lower, with most sectors and major bourses in the red.
Oil and gas stocks led the losses, with the sector down nearly 1%.
The death toll and number of new coronavirus cases recorded in Hubei province, the area at the center of the outbreak in China, rose sharply on Wednesday, according to figures from local health authorities.
The region reported an additional 242 deaths and 14,840 new cases for February 12, bringing the total number of people who have died amid the outbreak up to 1,310. The number of new cases rose dramatically after the province changed its method of reporting cases. The province said it is starting to include “clinically diagnosed” cases in its figures and that 13,332 of the new cases fall under that classification.
Investors are monitoring the situation and its potential effect on both the Chinese and global economies.
IMF Managing Director Kristalina Georgieva told CNBC on Wednesday the new strain of coronavirus was “clearly more impactful” on the world economy than the 2002-2003 SARS epidemic.
The outbreak has led to the closure of Chinese factories and businesses, resulting in a rise in demand for business loans. Major global airlines have suspended flights to mainland China, while events around the world, including Barcelona’s Mobile World Congress, have been cancelled to prevent the virus spreading.
Chinese policymakers are taking steps to minimize the shock to China’s domestic economy. The country’s central bank announced last week that it will ease monetary policy, while the Chinese government rolled out tax guidelines on Tuesday to help reduce financial pressure in key sectors.
On Wall Street, equities were under pressure, with the Dow Jones Industrial Average falling 70 points. The S&P 500 and Nasdaq indexes were both flat.
Back in Europe, British Prime Minister Boris Johnson reshaped his government on Thursday, with the U.K. looking to forge a future for itself outside of the European Union. In a surprise move, Finance Minister Sajid Javid resigned, and will be replaced by former Treasury official Rishi Sunak.

Earnings in focus

Shares of Credit Suisse were slightly higher after the bank beat market expectations with its latest earnings on Thursday, posting a 69% increase in annual net income despite the spying scandal that emerged during 2019.
Dutch insurer NN Group’s shares surged 11% to the top of the pan-European benchmark after the company reported its full-year operating result for 2019 increased 10% year-on-year.
Swiss chemical firm Clariant saw its shares rise by around 4%, after the firm announced it would cut 600 jobs following a profit plunge in 2019.
At the other end of the Stoxx 600, Centrica shares shed 15% after the company reported a loss of £1 billion ($1.3 billion) for 2019.

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                                On Wednesday 12, February 2020

European markets close higher despite coronavirus fears; Heineken up 6%

Elliot Smith, Chloe Taylor

European markets closed higher Wednesday as traders monitored corporate earnings and the spread of the new coronavirus.
The pan-European Stoxx 600 closed provisionally up 0.6%, hitting a record high as most sectors and major bourses were in positive territory. Autos shares soared 3.8% to lead gains while utilities bucked the upward trend to fall 0.4%.
China’s National Health Commission reported 2,015 new cases of coronavirus and 97 deaths across the mainland on Wednesday. The outbreak, which originated in the Chinese city of Wuhan and has killed 1,113 people in the country, has led to the shutting down of factories, businesses and transportation in China.
On Wall Street, stocks rose with the Dow Jones Industrial Average up over 180 points while the S&P 500 and Nasdaq indexes were also in the green.
Back in Europe, euro zone manufacturing output plunged more than expected in December, falling 2.1% month-on-month against the expected 1.6% slide, according to Eurostat.
In corporate news, Heineken’s CEO will step down on June 1. Jean-Francois van Boxmeer, who has held the chief executive position for 15 years, will be replaced by the head of the company’s Asia-Pacific region.
The announcement came ahead of the company’s full year earnings report on Wednesday. The world’s second-largest beer maker projected operating profit in 2020 to grow by a mid-single digit percentage after 2019 earnings came in level with expectations. Heineken stock jumped 5%.

Earnings in focus

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                                    On Tuesday 11, February 2020

European markets close higher as coronavirus remains in focus; Tui up 13%

Elliot Smith, Chloe Taylor

European shares traded higher on Tuesday as investors continued to monitor the spread of the coronavirus and its effect on the global economy.
The pan-European Stoxx 600 briefly hit an all-time high during morning trade and closed provisionally up 0.9%. Travel stocks jumped 1.9% to lead gains as most sectors and all major bourses remained in positive territory.
The new strain of coronavirus, which originated in the Chinese city of Wuhan, has infected 42,638 people and killed 1,016 across mainland China, the country’s health authority said on Tuesday. However, a slowing of the rate of new cases has given global stock markets some upward momentum.
Many factories and businesses in the world’s second largest economy have remained closed amid the crisis, which has led to hundreds of Chinese companies seeking billions in loans, according to Reuters. A Chinese government researcher warned on Tuesday that the coronavirus outbreak could shave 1 percentage point off of the country’s full-year economic growth rate in 2020, the news agency also reported.
On Wall Street, equities were mostly higher, with the Dow Jones Industrial Average barely above the flatline and the S&P 500 and Nasdaq indexes both in positive territory.
Back in Europe, several EU member states were plunged into fresh political uncertainty on Monday.
In Ireland, no party managed to secure a clear majority in the country’s national election, with Fianna Fail, Sinn Fein and Prime Minister Leo Varadkar’s Fine Gael closely tied for seats in parliament. Back in 2016, Irish lawmakers took 70 days to form a new government after an inconclusive election result.
Elsewhere, Annegret Kramp-Karrenbauer, the leader of Germany’s CDU party widely expected to replace Angela Merkel as chancellor, announced on Monday she would not run for the top job.
Italy’s fragile coalition also faced challenges on Monday, as former Prime Minister Matteo Renzi, whose Italia Viva party is in a coalition with the 5-Star Movement and Democratic Party, threatened a no-confidence motion against his own justice minister, Reuters reported.
In corporate news, Chinese auto maker Geely announced plans to merge with sister company Volvo, with a view to list the new combined business in Hong Kong and Stockholm.
Airbus unveiled a new aircraft at the Singapore Airshow on Tuesday, designed to cut carbon emissions by 20%.
The first estimate of U.K. fourth-quarter economic growth showed that GDP (gross domestic product) was flat quarter-on-quarter in the last three months of 2019. The pound reacted positively to the embattled economy avoiding a contraction amid heightened political uncertainty, adding 0.18% against the dollar to trade at around $1.2935.

Stocks on the move

Tui shares leaped 13% after its fiscal first-quarter earnings report. The German travel company said the grounding of the Boeing 737 Max continues to weigh on profits, but losses narrowed in the first quarter, with strong demand for holidays and flights from the U.K. are expected to offset the Boeing headwind.
Daimler shares edged 1% lower after the German automaker swung to a loss in the fourth quarter of 2019 and cut its dividend.
NMC Health’s London-listed stock plunged 16% after private equity firm KKR ruled at a bid for the Abu Dhabi hospital group. The stock had jumped 32% on Monday after NMC announced preliminary interest from KKR and GKSD Investment Holding, which confirmed on Tuesday that it is considering a bid.
Chipmaker AMS fell 3% despite optimistic guidance in its fourth-quarter earnings, while Michelin also dropped 3% after forecasting weaker 2020 operating income.

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                                     On Monday 10, February 2020

European markets mixed as coronavirus concerns linger; NMC Health up 24%

Elliot Smith, Chloe Taylor

European markets were mixed Monday amid ongoing concerns around the coronavirus outbreak in China.
TICKERCOMPANYNAMEPRICECHANGE%CHANGEVOLUME
FTSEFTSE 100FTSE7439.74-26.96-0.36347124711
DAXDAXDAX13475.88-37.93-0.2841143367
CACCACCAC6013.37-16.38-0.2738762582
The pan-European Stoxx 600 was trading just below the flatline, with oil and gas stocks falling over 1% to lead losses while construction shares bucked the trend to add 0.6%.
Investors monitored the economic impact of China’s coronavirus epidemic. The country’s National Health Commission said on Monday that the death toll from the outbreak had now reached 908 in mainland China, with 97 fatalities reported on Sunday. The total number of confirmed infections across China hit 40,171, authorities said.
China released its January inflation data on Monday, with its producer price index up 0.1% and consumer prices rising 5.4% year-on-year. Consumer prices rose at their fastest pace since October 2011, according to Reuters.
Chinese factories were due to restart work on Monday following the Lunar new year holiday, but many are expected to remain closed for longer as authorities work to contain the virus.
On Wall Street, equities were mostly higher. The Dow Jones Industrial Average rose 70 points, while the S&P 500 and Nasdaq indexes were also positive.
Back in Europe, votes are still being counted after Ireland held a general election this weekend but the preliminary results point to no outright majority for any of the country’s main parties. Sinn Fein caused an upset to top the poll for first preference votes, but party leaders will now have to consider potential coalition arrangements in order to form a government.
In corporate news, German newspaper Handelsblatt reported on Sunday that German carmaker Daimler planned to cut up to 15,000 jobs as it intensified cost-cutting measures.
Elsewhere, extreme weather conditions caused by Storm Ciara led to the cancellation of hundreds of flights, railway services and sports matches across the U.K. and northern Europe on Sunday. Energy companies said hundreds of thousands of British homes lost power during the storm, the BBC reported on Monday.

Stocks on the move

NMC Health’s London-listed shares jumped 24% to lead the Stoxx 600 after announcing it had received two preliminary approaches from private equity firms, and that two other major investors were under review for inaccurate disclosures.
Exor shares climbed 4% after the Italian investment group revealed talks to sell its reinsurer PartnerRe.
At the other end of the European benchmark, Carl Zeiss Meditec slipped 5% while Neste fell over 3%.

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                                       On Friday 7, February 2020

European stocks close lower; Credit Suisse's Tidjane Thiam announces resignation

Elliot Smith, Silvia Amaro

European markets declined Friday as investors monitored the latest coronavirus developments and breaking news on the corporate front.
TICKERCOMPANYNAMEPRICECHANGE%CHANGEVOLUME
FTSEFTSE 100FTSE7466.70-38.09-0.51705974175
DAXDAXDAX13513.81-61.01-0.4587036924
CACCACCAC6029.75-8.43-0.1482348510
The pan-European Stoxx 600 slipped 0.32% below the flatline by mid-afternoon, with basic resources falling more than 2% to lead losses. Telecoms, banks and utilities bucked the trend to move higher.
Investors remain attentive to the economic developments of the coronavirus outbreak. S&P Global Ratings said in a report Friday that it lowered its growth forecasts for China for 2020 to 5% from 5.7% prior to the outbreak.
Chinese President, Xi Jinping, spoke with U.S. President Donald Trump on the phone Friday morning, Beijing time. A spokesperson for the White House said that “President Trump expressed confidence in China’s strength and resilience in confronting the challenge of the 2019 novel coronavirus outbreak.”
In corporate news, Credit Suisse announced that Tidjane Thiam is resigning as chief executive officer from the bank, effective from February 14. Thomas Gottstein, who currently heads the bank’s Swiss unit, will be taking over as CEO. The news follows a long drawn-out spying scandal at the bank.
Credit Suisse shares tumbled at the start of trade but trimmed losses to trade 1.5% lower by mid-afternoon.
Economic data placed some downward pressure on markets after German industrial production plunged in December. The Federal Statistics Office said Friday morning that total industrial output, comprising manufacturing, energy and construction, fell 3.5% from November in calendar-adjusted terms, well below the 0.1% rise forecast by economists.
French industrial output also fell further than expected in December, tumbling 2.8% against an expectation of -0.4%.
Nonfarm payrolls in the U.S. beat forecasts with 225,000 jobs added in January.

Stocks on the move

Earnings remained in focus as cosmetics giant L’Oreal reported an 11.4% rise in fourth-quarter revenue and beat sales projections despite warning of a slight hit expected due to the coronavirus. The stock pared early gains to trade 1% higher by the close.
Skanska missed fourth-quarter operating profit expectations. The Swedish construction group’s shares barely budged on the news.
Norsk Hydro shares fell 8% to the bottom of the Stoxx 600 after the aluminum and renewable energy firm posted a far smaller-than-expected rise in fourth-quarter earnings, citing low metals prices.
Enjoying contrasting fortunes was Norwegian fertilizer producer Yara, which climbed 5.3% after reporting stronger-than-expected profits before the bell.
Finnish telecoms company Nokia saw its shares jump 7% after U.S. Attorney General William Barr told an audience in Washington on Thursday that the U.S. and its allies should consider buyouts of Nokia and Ericsson, in a bid to counter Chinese giant Huawei’s 5G dominance. Ericsson shares also gained 5.7%.

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                                      On Thursday 6, February 2020

Europe markets close higher as investors monitor earnings; Deutsche Bank spikes 12.5%

David Reid, Elliot Smith, Holly Ellyatt

3minutes - Source: CNBC

European markets advanced on Thursday as earnings dominate investor focus and fears over the coronavirus outbreak start to fade.
The pan-European Stoxx 600 closed 0.45% higher, slightly paring morning gains. Banks jumped 2% while construction and material stocks slid 0.5%.
Global markets received a boost over night as China announced that it will halve tariffs on hundreds of U.S. goods worth about $75 billion. Tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China's Ministry of Finance. The adjustments will take effect from February 14, it said.
Asia Pacific stocks mostly traded higher on Wednesday, building on gains from the previous session, after stocks sold off recently due to worries over the new coronavirus outbreaks. Chinese shares led gains in the region.
As of Wednesday night, China says a total of 28,018 cases have been confirmed and 563 people have died in the country.
Oil prices were trading higher on Thursday amid hopes that an abating coronavirus outbreak could fuel a rebound in demand for oil from China.
On Thursday, a committee that advises OPEC producers and its allies such as Russia (a group known as OPEC+) met for a another day, extending a two-day meeting, as they discuss whether to reduce oil production further to support prices.
On the data front, Germany's new industrial orders in December dropped 2.1% month-on-month, ending the worst year for industrial orders in Europe's largest economy since 2008.

Earnings in focus

Earnings are the primary driver of individual stock moves in the region.
Societe Generale missed fourth-quarter earnings projections but revealed plans for possible stock buybacks and promised improving profitability in 2020, sending the French lender's shares 1.4% higher.
Luxembourg steel manufacturer Arcelormittal reported a fourth-quarter profit beat and gave an upbeat outlook, sending its stuck surging 11.6% to near the the top of the Stoxx 600.
Deutsche Bank shares rallied almost 13% in afternoon trade to take that top spot after Los Angeles-based Capital Group announced a 3.1% stake in Germany's biggest lender.
At the other end of the European benchmark, Finnish pharma company Orion plunged 7% after reporting third-quarter earnings.
Royal Mail shares were down 5.6% having earlier hit an all-time low after the British former postal monopoly warned of a productivity miss and challenging outlook for the next fiscal year.
Nokia posted an unexpected rise in fourth-quarter profit to send the Finnish telecoms giant's stock 1.8% higher.

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                                    OnWednesday 5, February 2020

European stocks close higher despite coronavirus concerns; euro zone data surprises

Elliot Smith, Holly Ellyatt

European stocks closed higher on Wednesday, extending gains from earlier in the week despite the coronavirus outbreak.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7486.1246.300.62546784381
DAXDAXDAX13470.37188.631.4278512150
CACCACCAC5989.8754.820.9266860025
The pan-European Stoxx 600 reversed early losses to close provisionally over 1% higher, with auto shares leading the gains while only telecoms traded in the red.
Reuters said a Chinese TV media outlet had reported that a research team at Zhejiang University had found an effective drug to treat people with the new coronavirus. The news agency, citing traders, suggested this was a reason for the move higher in stocks.
Investors have been trying to weigh the economic impact of the outbreak, and the World Health Organization said that cases surged to 24,363 over the last 24 hours, “the most cases in a single day since the outbreak started.”
On Wall Street, stocks followed the positive momentum overseas, with all the major U.S. indexes in the green. The Nasdaq, however, pared gains slightly as Tesla shares plummeted following a monster rally.
In other news, oil prices rose on Wednesday, boosted by OPEC and non-OPEC producers including Russia (an alliance collectively known as OPEC+) discussing potential further output cuts to counteract a potential drop in global oil demand amid the coronavirus outbreak. The OPEC+ committee met again Wednesday.
On the data front, final purchasing managers’ index (PMI) readings showed that euro zone business activity made a solid start to 2020, beating preliminary estimates to rise to a five-month high of 51.3 in January from December’s 50.9.
Germany led the positive surprises, its service sector growing at its strongest pace in five months to rise to 54.2 from 52.9 in December.

Earnings in focus

Danske BankBNP ParibasSiemensInfineonNovonordiskABB and Vodafone all reported earnings on Wednesday.
BNP Paribas posted a slightly better-than-expected fourth-quarter net profit of 1.84 billion euros ($2 billion) but cut its profitability outlook, sending the French lender’s shares 0.9% higher in afternoon trade.
Danske Bank posted flat net profits for 2019 and warned that its 2020 profit could almost halve amid pressure from a 200 billion euro money-laundering scandal and negative interest rates. Danske Bank shares slid 0.8%.
Infineon surged 9.2% after meeting profit expectations and confirming its forward guidance.
Siemens reported a 3% fall in net profit in its fiscal first quarter, weighed down by weakness in the auto and energy sectors, but saw its shares edge 0.6% higher. The German conglomerate announced plans to buy Iberdrola’s stake in Spanish wind turbine maker Siemens Gamesa, which in turn took its shares 6.7% higher.

Biggest movers

Valmet Corp was the biggest climber in the Stoxx 600 on Wednesday, adding more than 12% after the Finnish tech company increased its financial targets on the back of a strong fourth quarter.
GN Store Nord gained 6.6%, the Danish hearing aid manufacturer adding 6.9% after a strong fourth-quarter earnings report.
At the other end of the European benchmark, Imperial Brands tumbled 7.7% after issuing a profit warning in its first-quarter trading update.

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                                      On Tuesday 4, February 2020                               

Europe markets close higher amid global rebound; coronavirus fears linger

Elliot Smith, Holly Ellyatt

European markets closed higher on Tuesday as sentiment improved and investors brushed aside economic fears over the coronavirus outbreak.

Stocks on the move

Earnings remain a key driver of individual share price action. Danish hospital equipment maker Ambu leaped 24% after reporting double-digit sales growth for the first quarter of 2019/20.
At the other end of the European blue chip index, Micro Focus saw its shares plummet 22% on the back of its chairman's resignation following a "challenging year," as the British IT company posted a pre-tax loss for fiscal 2019.
Carlsberg reported full-year sales broadly in line with expectations and forecast mid single-digit organic profit growth in 2020, sending the Danish brewer's shares around 3% higher.
Energy giant BP posted better-than-expected full-year net profit, reporting a year-on-year fall of 21% on weak oil and gas prices. BP shares climbed 4%.

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                                    On Monday 3, February 2020

European shares close higher as coronavirus fears ebb; Ingenico up 17%

Elliot Smith, Holly Ellyatt


European markets closed higher Monday, bouncing back from a deep sell-off last week as fears over the coronavirus outbreak appeared to ease.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7339.8453.830.74407303992
DAXDAXDAX13047.8865.910.5160354778
CACCACCAC5838.6832.340.5649668773
The pan-European Stoxx 600 closed provisionally up by 0.3%, led higher by technology shares. The oil and gas sector however bucked the trend amid fears the spread of coronavirus could hit Chinese demand.
The People’s Bank of China announced Sunday that it will inject 1.2 trillion yuan (approx. $173 billion) worth of liquidity into the markets via open market reverse repo operations. That helped to boost risk sentiment somewhat, with shares on Wall Street also in the green.
Investors also tracked Brexit developments. Monday is the first trading day since Brexit took place. The U.K. exited the EU at 11 p.m. on Friday and has now started an 11-month transition period in which it hopes to strike a trade deal with the bloc.
Negotiations are expected to be turbulent after the U.K.’s foreign minister said over the weekend that the U.K. would “not be aligning with EU rules” in any post-Brexit trade deal. Irish Prime Minister Leo Varadkar warned both sides not to set up rigid “red lines” ahead of talks.
As for economic data, euro zone manufacturing PMI (Purchasing Managers’ Index) readings came in at a nine-month high of 47.9 on Monday, but continued to dwell below the 50 point benchmark which represents growth.

Stocks on the move

Julius Baer shares fell 5.8% after the Swiss private bank reported a 5% adjusted net profit drop in 2019 and announced plans to improve its cost-income ratio by 2022.
Worldline shares dropped 2.7% after it announced the acquisition of fellow French payments technology company Ingenico. Ingenico shares jumped 17% to lead the European benchmark.

Ryanair announced a beat on third-quarter revenue expectations on Monday morning and raised its profit guidance, leading the budget carrier’s stock 5.4% higher.

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                               On Friday 31, January 2020

European stocks close lower as UK coronavirus cases confirmed; UK set to leave EU today

Chloe Taylor, Elliot Smith

European stocks closed lower on Friday after the first two cases of the coronavirus, which has hammered markets this week, were confirmed in the U.K.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7286.01-95.95-1.30714049615
DAXDAXDAX12981.97-175.15-1.33106903828
CACCACCAC5806.34-65.43-1.11101862637
The pan-European Stoxx 600 ended the session 1% lower, with basic resources falling 1.7% to lead losses as all sectors and major bourses were in the red.
In a statement Friday, England’s Chief Medical Officer Chris Whitty said that two patients had tested positive for the new strain of coronavirus and were in the care of the country’s National Health Service (NHS). A sixth case was confirmed in Germany by health officials in the southern state of Bavaria.
The coronavirus death toll has now hit 213 with confirmed cases rising to 9,692, according to Chinese health officials, while the World Health Organization on Thursday declared the outbreak a global health emergency. The U.S. also confirmed its first human-to-human transmission.
However, French diagnostics company Novacyt on Friday announced the launch of a test to identify the specific strain of coronavirus, sending its share price surging. U.S. biotech firm Vaxart then announced the initiation of a program to develop a vaccine.
Losses for European markets were deepened as initial GDP (gross domestic product) growth estimates published Friday revealed that the euro zone economy grew less than expected in the fourth quarter of 2019, while core inflation slowed, which will likely concern the European Central Bank (ECB).
Quarter-on-quarter, euro area GDP rose 0.1% for a 1.0% year-on-year gain, according to Eurostat, below Reuters polling estimates of 0.2% and 1.1% respectively.
Asian stocks were mixed on Friday after Chinese manufacturing data met expectations, with Japan’s Nikkei 225 leading gains which were contained by concerns over the coronavirus and its potential impact on the global economy. South Korea’s Kospi plunged 1.35%.
Stocks on Wall Street were trading lower Friday as concerns over the coronavirus outbreak weighed on investor sentiment. The Dow Jones Industrial Average led losses, tumbling 1.5%.

Stocks on the move

Shares of antivirus developer Avast surged 7.6% on Friday to lead gains on the Stoxx 600. The stock rebounded from heavy losses in the previous session, which came after the company closed a subsidiary caught in the middle of a data privacy scandal.
Signify shares climbed 7%, while SES stock jumped 5.8% on the back of rising fourth-quarter profit. Danske Bank rose 4% after a report suggested U.S. authorities may struggle to fine the lender over money laundering.
At the other end of the European benchmark, Spain’s Banco de Sabadell plunged almost 14% after reporting a surprise fourth-quarter net loss, while British broker Hargreaves Lansdown tumbled 8.2% as new asset growth slowed following the downfall of star fund manager Neil Woodford.
Electrolux stock slid 2.3% after missing fourth-quarter earnings expectations and issuing a warning over potential costs arising from the coronavirus outbreak.

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                                On Thursday 30, January 2020

European markets close lower as coronavirus death toll rises

Elliot Smith, Holly Ellyatt

European markets closed lower on Thursday, weighed on by a rising coronavirus death toll and reacting to the U.S. Federal Reserve’s decision to keep interest rates on hold.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7383.42-100.15-1.34467113798
DAXDAXDAX13149.48-195.52-1.4776147414
CACCACCAC5867.16-87.73-1.4759542485
The pan-European Stoxx 600 provisionally dropped 1% by the closing bell, with oil and gas stocks falling 2.6% to lead losses as most sectors and all major bourses slid into the red.
The coronavirus continues to be a focus for international markets; the outbreak has already taken more than 170 lives and infected more than 7,711 in China, according to the latest update by China’s National Health Commission.
Stocks on Wall Street also took a downward turn amid the rising death toll from the virus, and markets were also subdued following the U.S. Federal Reserve’s decision to keep interest rates on hold.
The central bank’s Federal Open Market Committee said Wednesday it will hold its benchmark funds rate between 1.5% to 1.75%. The decision marked the second straight meeting the Fed made no changes to rates, following three consecutive reductions in 2019. The central bank affirmed its commitment to nudge up inflation to the 2% level.
In Europe, Brexit is on the agenda with European parliamentary lawmakers meeting for last time Thursday ahead of the U.K.’s departure at 11 p.m. London time on Friday.
The Bank of England (BOE) on Thursday held interest rates following Governor Mark Carney’s final monetary policy meeting. Sterling jumped 0.5% against the dollar to trade at around $1.3084 after the  central bank’s Monetary Policy Committee (MPC) voted 7-2 to keep the base rate at 0.75%.
Euro zone sentiment jumped in January as manufacturing confidence rose to its highest level since August, suggesting that the bloc may have enjoyed an economic uptick to begin the year, according to European Commission data published Thursday.

Earnings in focus

Deutsche Bank posted a full-year net loss of 5.3 billion euros ($5.8 billion) before the bell on Thursday, amid a huge transformation project. Shares of Germany’s largest lender climbed 4.2% on signs of restructuring progress.
Oil titan Royal Dutch Shell reported a sharp fall in full-year net profit, citing challenging macroeconomic conditions and lower oil and gas prices. The stock fell 4% by the end of the session.
H&M shares jumped 9.4% to the top of the Stoxx 600 after the Swedish fashion retailer posted its first annual profit rise since 2015 and announced a management reshuffle.
BT Group shares fell 7.3% after slightly missing third-quarter earnings expectations and warning of a £500 million ($649.6 million) hit from the U.K.’s cap on Huawei technology.
British cybersecurity company Avast plunged 13.2% after announcing that it will close its Jumpshot analytics business, which recently found itself at the center of a data privacy scandal.

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                                 On Wednesday 29, January 2020

European stocks close higher, brushing off coronavirus concerns

Chloe Taylor, Elliot Smith, Holly Ellyatt

European markets advanced on Wednesday as investors in the region look to brush off concerns about the spread of the China coronavirus.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7487.797.100.09325842274
DAXDAXDAX13347.4423.750.1847177037
CACCACCAC5957.3631.540.5346978178
The pan-European Stoxx 600 climbed 0.5% by the afternoon, with industrials adding 1% to lead gains as most sectors and major bourses entered positive territory.
A stabilization in European markets sentiment follows a rebound in U.S. stocks on Tuesday, after the market’s biggest sell-off in more than three months.
Stocks on Wall Street also continued their rally on Wednesday, trading in positive territory following positive earnings from Apple and McDonald’s. But in Asia, shares in Hong Kong plummeted Wednesday as markets returned from the Lunar New Year holiday amid coronavirus fears.
Chinese health officials say the death toll has risen to 132 with the number of confirmed coronavirus cases in China now standing at 5,974, topping the number of SARS cases previously. Between Nov. 1, 2002, and July 31, 2003, China had 5,327 SARS cases, according to the World Health Organization.
Chinese President Xi Jinping called on the country to strengthen its resolve on Tuesday, saying “I believe that as long as we strengthen our confidence, help each other, adopt scientific prevention and containment measures, and persist in precise policies, we will definitely win the battle against the outbreak.”
Morale among Italian manufacturers climbed from 99.3 in December to 99.9 in January, according to the latest official statistics published Wednesday, while consumer confidence rose to 111.8 from 110.8 in December, surpassing expectations.
French consumer confidence also rose unexpectedly in January, despite major strikes against pension reform, with the INSEE official index rising from 102 in December to 104, having been expected to remain flat.

Stocks on the move

Quilter shares jumped 8% by the afternoon after reporting a 17% year-on-year jump in fourth-quarter sales and a rise in full-year assets under management.
Temenos shares gained 4.5% after the Swiss software provider announced a global strategic partnership with Google Cloud. Santander shares also climbed 4.5% after the Spanish bank beat fourth-quarter profit expectations.
Dutch telecoms company KPN dropped 5.4% after reporting a fourth-quarter rise in net profit and forecasting a “stable” 2020, while the Paris-listed shares of mobile operator SES plunged 8.3% on the back of a Senate bill limiting payouts to companies which vacate C-band airwaves.
LVMH shares slipped 1% after the French luxury goods giant posted weaker sales growth in the fourth quarter and said it sees softer demand in Hong Kong amid anti-government protests.

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                          On Tuesday 28, January 2020

European stocks close higher after virus driven sell-off

Chloe Taylor, Elliot Smith

European stocks moved higher on Tuesday as investors monitored developments relating to the Chinese coronavirus, after global markets plummeted on Monday.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7480.3468.290.92347290272
DAXDAXDAX13316.47111.700.8569117520
CACCACCAC5925.5262.501.0756248855
The pan-European Stoxx 600 was around 0.9% higher during afternoon deals, with most sectors and all major bourses in positive territory. Telecoms stocks added around 1.7% to lead gains while tech stocks dipped below the flatline.
The snap back came after the Stoxx 600 dropped 2.3% on Monday, with around 180 billion euros of market value wiped out, but sentiment remains tied to news out of China.
As of Tuesday morning, Chinese health authorities have confirmed that 106 people have died with 4,515 now infected, with cases reported in multiple countries around the world.
Stocks on Wall Street were also trading higher on Tuesday, following Wall Street’s biggest sell-off since October in the previous session.
Back in Europe, Brexit is back in focus with the U.K. set to leave the European Union on Friday, beginning a transitional period in which both sides work toward the ambitious target of agreeing a new free trade agreement this year.
EU chief negotiator Michel Barnier warned the U.K. on Monday that the bloc will “never, never, never” compromise on the single market, accusing Britain of underestimating the cost of leaving.
Meanwhile, the U.K. granted Chinese telecoms giant limited access to its 5G network on Tuesday, defying pressure from the U.S. to shut the company out over alleged national security concerns.
In corporate news, Renault’s board is set to meet Tuesday to approve the appointment for former Seat  boss Luca de Meo as its next CEO, according to Le Figaro newspaper.

Stocks on the move

Earnings are in focus, with Europe’s most valuable technology company SAP on Tuesday raising its revenue and profit outlook and reporting an increase in fourth-quarter net profit. Market reaction was muted, however, with SAP shares slipping 2.3%.
Shares of antivirus developer Avast lost 6.9% during afternoon trade, sending the company to the bottom of the European benchmark following reports that the company had sold user data.
At the top of the European benchmark, Swedbank climbed 7.7% after reporting better-than-expected fourth-quarter profits before the bell, while French corporate services provider Edenred added 3.7% after brokerage ODDO upgraded the stock to “buy,” according to Reuters.

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                                     On Monday 27, January 2020

European stocks close sharply lower as China virus fears intensify; Stoxx 600 down 2%

Chloe Taylor, Elliot Smith

European stocks tumbled sharply on Monday as fears over the economic fallout from the Chinese coronavirus outbreak intensify.
The pan-European Stoxx 600 fell by more than 2%, with the China-exposed basic resources sector plunging 4% to lead losses as all sectors and major bourses traded firmly in negative territory.
Chinese officials have now confirmed more than 2,700 cases of the new strain of coronavirus, which originated in the city of Wuhan, with the death toll rising to 80 and 461 people in critical condition. The virus has now been detected in a host of other countries in Asia and beyond, including the U.S., France, Australia and Canada.
Traditional safe-haven assets such as gold and the Japanese yen surged as investors sought shelter from the potential economic impact, with the specter of the SARS crisis of 2003 hanging over markets.
Stocks on Wall Street opened lower on Monday, with the Nasdaq tumbling more than 2%.
Back in Europe, further downward momentum for equities came as German business sentiment was shown to have deteriorated in January, according to the latest Ifo Institute survey, falling from 96.3 in December to 95.9 and missing the Reuters consensus forecast of 97.0.
The Ifo Institute also projected that Europe’s largest economy will likely grow by 0.2% in the first three months of 2020 as demand in the ailing industrial sector slowly returns.
Italy’s right-wing Lega party has failed in its bid to oust the center-left Democratic Party (PD) from its northern stronghold of Emilia-Romagna, falling short in a closely-watched regional election on Sunday.
In corporate news, Reuters reported on Monday, citing sources, that the Swiss Financial Market Supervisory Authority (FINMA) is looking into the role of the Credit Suisse board in the lender’s recent spying scandal.

Stocks on the move

Travel stocks took a significant hit from coronavirus fears in early trade, with Air France KLM shares falling 7% to the bottom of the European benchmark, while British Airways parent International Consolidated Airlines Group slid 6%.
London-listed airline Easyjet shed 5.8% during afternoon deals.
French household appliance maker SEB fell 5% after HSBC cut the stock from “buy” to “hold” citing coronavirus concerns.
There were few success stories in the Stoxx 600, with NMC Health’s London-listed shares the strongest performers, climbing 3.9% after The Capital Group Companies increased its stake in the Abu Dhabi-based hospital chain.

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                                      On Friday 24, January 2020

European stocks close higher as WHO says no 'global emergency' yet for China virus; data offers relief

Elliot Smith

European stocks rebounded on Friday, breaking a four-day losing streak after the World Health Organization (WHO) said the deadly Chinese coronavirus was not a “global emergency” yet.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7585.9878.311.04605759969
DAXDAXDAX13576.68188.261.4187986422
CACCACCAC6024.2652.470.8882330634
The pan-European Stoxx 600 jumped 0.85% by the closing bell, with industrials and technology stocks leading gains.
Following a torrid week for stocks on the back of fears over the spread of the new coronavirus, which has killed 25 people in China and infected over 800 more, equity investors seem to be taking some heart from the WHO’s reluctance to declare the epidemic of international concern.
Stocks in Asia edged slightly higher on Friday, with the MSCI Asia ex-Japan index climbing 0.13% while Japan’s Nikkei also added 0.13%.
In the United States stocks turned negative on Friday, giving back their gains from earlier in the day after the second U.S. case of the deadly coronavirus was confirmed.
In corporate news, the U.K. competition regulator is scrutinizing Takeaway.com’s proposed takeover of rival Just Eat, forcing them to delay finalization of the deal to create one of the world’s largest takeout delivery firms.
German media company Axel Springer revealed on Thursday that it plans to delist from the Frankfurt Stock Exchange following its takeover by U.S. private equity firm KKR.

Economic data in focus

Friday morning saw a raft of flash PMI (purchasing managers’ index) figures released, which showed euro zone business activity remaining weak to start the year but offered some glimmers of hope which boosted European stock markets.
IHS Markit’s euro zone composite flash PMI stayed at 50.9 in January, missing the 51.2 estimate from analysts polled by Reuters. Readings over 50 indicate growth.
The industrial slowdown in Europe continued to weigh on the headline index, with the manufacturing PMI reading coming in at 47.8, but this represented a marked improvement on December’s 46.3 and the January expectation of 46.8.
Optimism about the 2020 outlook increased, with the composite future output index advancing from 59.4 in December to 61.2, its highest since September 2018.
In the U.K., January data came in above forecast with the flash composite PMI hitting 52.4 against an  expectation of 50.6, with both manufacturing and services exceeding expectations.

Stocks on the move

Earnings remain on the agenda, with Swedish telecoms giant Ericsson raising its full-year dividend before the bell on Friday but reporting fourth-quarter core earnings which fell short of analyst expectations, due to a slowdown in the U.S. business and higher costs. Ericsson shares were down 5.8% during afternoon trade.
Virgin Money shares gained 3.9% after the bank said its chairman Jim Pettigrew is planning to retire by September 2021.
Carrefour added 4.8% after the French retailer reported a rise in fourth-quarter sales.
At the bottom of the European benchmark, Ipsen stock plunged more than 24% after the French pharmaceutical company paused dosing in its Palovarotene trials.
Remy Cointreau shares tumbled 11.1% after the French spirits group posted a worse-than-expected 11.3% fall in third-quarter like-for-like revenues and suspended its guidance.
Finland’s Nokian Tyres fell 7.6% after revising down its sales and profit guidance for 2020.

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                                   On Thursday 23, January 2020               

European stocks close lower on coronavirus fears and dovish ECB tone

Elliot Smith, Holly Ellyatt

European markets closed lower on Thursday amid increasing concerns over the spread of the China coronavirus, while dovish tones from the European Central Bank (ECB) exerted further downward pressure.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7506.36-65.56-0.87425786380
DAXDAXDAX13399.04-116.71-0.8669204783
CACCACCAC5970.42-40.56-0.6855734804
The pan-European Stoxx 600 closed provisionally down by 0.7%, with most sectors and major bourses in negative territory. Basic resources stocks led the losses with a 2.9% decline.
The ECB held its interest rates steady Thursday, with President Christine Lagarde’s remarks on the economic outlook for the euro zone seemingly disappointing market participants.
The ECB on Thursday held interest rates steady and launched its first strategic review since 2003, in a bid to establish whether its inflation target is still appropriate.
Markets reacted negatively to a slightly more dovish tone than anticipated from Lagarde, as the former IMF chief told a press conference in Frankfurt that the risks were still “tiled to the downside.”
The coronavirus remains at the forefront of investor concerns as the death toll from the disease continues to rise; 17 people have now died from the virus and there have been nearly 600 confirmed cases of the infection.
The World Health Organization postponed a decision Wednesday over whether to declare the disease a global health emergency. Beginning Thursday morning Beijing time, all public transportation was suspended in the Chinese city of Wuhan, where the outbreak is believed to have started.
The outbreak comes ahead of the Lunar New Year period which is set to kick off on Saturday, with hundreds of millions of Chinese citizens expected to travel domestically or abroad during the period.

Stocks on the move

The biggest mover in early trade was German construction company Hochtief, which saw its shares plunge 7.6% after its Cimic unit forecast a $1.23 billion hit for its exit from the Middle East. Spain’s ACS, which holds a majority stake in Hochtief, fell 4.3%.
Renault shares fell 6% after Citigroup downgraded the stock to “sell,” while Russian mining company Evraz’s London-listed stock tumbled 6.7%.
At the top of the European benchmark, STMicro climbed 6.4% after reporting strong fourth-quarter earnings and optimistic guidance.
Novozymes stock gained 5.7% after the Danish biotech company’s CEO said the roll-out of its new freshness platform is going according to plan.

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                                  On Wednesday 22, January 2020

European markets close lower as investors track coronavirus and earnings; DAX scrapes record high

Elliot Smith, Holly Ellyatt


European markets edged lower on Wednesday afternoon despite China’s unveiling of measures to rein in the spread of a new strain of coronavirus that has killed nine people so far.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7566.46-44.24-0.58385725652
DAXDAXDAX13503.04-52.83-0.3950482610
CACCACCAC6007.02-38.97-0.6541292522
The pan-European Stoxx 600 was down 0.15% during late afternoon trade. Financial services led  gains while autos and bank stocks slid lower. Italian banks led the decline following reports that Luigi di Maio, leader of the Five Star Movement (M5S) and deputy prime minister, has resigned.
Stocks worldwide began a tentative recovery Wednesday as the Chinese government’s plans to contain the virus seemed to ease equity investors’ concerns over a possible pandemic, though markets will remain attuned to news out of China.
Germany’s DAX hit a record high on Wednesday morning after the ZEW economic sentiment survey logged the highest “expectations” reading since July 2015, while the “current situation” gauge saw double-digit improvement.
In other news, market focus in the region continued to be on the World Economic Forum (WEF) in Davos, Switzerland.
U.S. President Donald Trump told CNBC on Wednesday that the European Union has “no choice” but to agree to a new trade deal. In a meeting with European Commission President Ursula von der Leyen in Davos on Tuesday, Trump again threatened to levy tariffs on European car imports in the absence of renewed trade commitments from the bloc.

Stocks on the move

Housebuilder Berkeley Group saw its shares climb almost 5% after announcing that it would increase  its returns to shareholders by around £455 million ($593.3 million) to investors over the next two years.
Meanwhile, Gjensidige stock jumped 5.8% to lead the Stoxx 600 after the Norwegian insurer beat fourth-quarter earnings expectations.
At the other end of the European benchmark, K+S shares fell 7.5% after Bank of America rated the German chemical company’s stock at “underperform.”
Tui’s London-listed stock fell by 5.6% after the announcement of further delays to the return of the grounded Boeing 737 Max aircraft.
Italian banks slid across the board following news of di Maio’s imminent resignation as leader of M5S, with shares of Unicredit and Banco BPM shedding more than 3%.

— CNBC’s Fred Imbert and Eustance Huang contributed reporting to this story.

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                                  On Tuesday 21, January 2020

European stocks close lower on China virus concerns

Elliot Smith, Holly Ellyatt

European stock markets traded lower on Tuesday afternoon as the World Economic Forum (WEF) got underway in Davos, Switzerland, after concerns over a new strain of pneumonia in China hit risk assets.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7607.99-43.45-0.57468811544
DAXDAXDAX13550.541.600.0148205089
CACCACCAC6045.84-32.70-0.5443739162
The pan-European Stoxx 600 pared early losses to trade just 0.19% lower by the closing bell. Basic resources were the worst performing stocks, falling 1.2%, while financial services srocks logged 0.6% gains.
Market focus on Tuesday shifted towards the annual WEF event in Davos, where politicians and business leaders gathered.
Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instability are likely to be on the agenda as well.
High-profile attendees this year include U.S. President Donald Trump, German Chancellor Angela Merkel and climate activist Greta Thunberg.
Thunberg took to the stage Tuesday morning to tell world leaders that time was running out to tackle the climate emergency, while Trump urged countries to prioritize their own citizens, promoting his “America First” agenda while boasting of U.S. economic success.
The event itself has been criticized for putting climate change at the top of the agenda, with environmental activists arguing that delegates arriving on private planes represent some of the worst climate offences.
Meanwhile in Asia, equities turned negative earlier Tuesday amid heightened concerns over the spread of a virus in China, that is being compared to the SARS outbreak that killed 800 people in 2002/2003. The flight from risk assets spread throughout global markets.
Stocks in Hong Kong led losses regionally among major Asian markets on Tuesday after ratings agency Moody’s cut its rating for the city to Aa3 from Aa2 on Monday.

Stocks on the move

UBS shares fell by 5.3% after the Swiss lender missed its key 2019 profit targets and cut its midterm guidance, while steelmaker Evraz shed 5.5%.
At the top of the European benchmark, Hugo Boss shares gained 6% after the German fashion house reported better-than-expected fourth-quarter sales growth. Lonza shares also rose by 6% to a record high after the Swiss chemicals maker reported a 15% jump in net profit for 2019.

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                                    On Monday 20, January 2020

European stocks close slightly lower as caution returns ahead of Davos

Elliot Smith, Chloe Taylor

TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7649.90-24.66-0.32223697735
DAXDAXDAX13546.7620.630.1539217825
CACCACCAC6074.50-26.22-0.4326473816
The pan-European Stoxx 600 was down 0.1% during afternoon trade, with household goods falling 0.9% to lead losses while insurance stocks added 0.5%.
Climate change and sustainable business will be a key focus for delegates at this year’s WEF summit, but other political risks such as international trade and geopolitical instability are also likely to be on the agenda.
Elsewhere, the People’s Bank of China kept its loan prime rate unchanged on Monday, sending Asian shares higher. The decision came after President Donald Trump and Chinese Vice Premier Liu He signed a long-awaited “phase one” trade deal on Wednesday, easing tensions between the world’s two largest economies.
Stocks on Wall Street reached record highs last week, rising on Friday on the back of positive economic data from both the U.S. and China. U.S. markets were closed on Monday for Martin Luther  King Jr. Day.
Back in Europe, finance ministers from EU member states gathered in Brussels on Monday for the monthly Eurogroup meeting.
Meanwhile, British Prime Minister Boris Johnson hosted a summit for 21 African leaders in London on Monday, in a bid to boost the U.K.’s trade ties with the continent ahead of the country’s departure from the European Union.

Stocks on the move

Qiagen shares gained 5.3% by mid-afternoon after a report that the firm was in talks about a possible takeover, while French biotech company Biomerieux saw its shares climb 5.5% to lead the Stoxx 600.
At the other end of the European benchmark, Swiss travel retailer Dufry slid 5.5% while Air France KLM shares shed 4.7% after Davy Research cut the carrier’s stock to “neutral” from “outperform.”

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                                  On Monday 13, January 2020

European stocks close lower as investors await trade and geopolitical developments

Elliot Smith



European stocks were muted on Monday as the U.S. and China prepare to sign a so-called “phase one” trade deal on Wednesday, while protests continue in Iran over the downing of a Ukrainian commercial airliner.
The pan-European Stoxx 600 slipped 0.18% by the close, with autos falling almost 1% to lead losses while tech and utilities stocks added 0.34%.
Representatives from Washington and Beijing are expected to sign the first phase of a long-awaited trade accord on Wednesday, and U.S. Treasury Secretary Steven Mnuchin insisted on Sunday that China’s commitments had not changed during a lengthy translation process. Mnuchin also confirmed that the details will be published this week.
Asian stocks mostly advanced on Monday as investors look ahead to the inking of the deal, with MSCI’s broadest Asia-Pacific index excluding Japan gaining 0.49%.
Tensions in the Middle East have continued as anti-government protests spread across Iran, after the Iranian regime admitted that its armed forces unintentionally shot down a Ukrainian passenger plane in Tehran, killing 176 people. U.S. President Donald Trump tweeted his support for the protesters on Sunday.
Back in Europe, U.K. Prime Minister Boris Johnson will travel to Northern Ireland on Monday to meet with leaders of the country’s newly-formed executive and his Irish counterpart, Leo Varadkar.
Sterling fell below $1.30 to a two-week low after Bank of England Monetary Policy Committee member Gertjan Vlieghe indicated that he may vote to cut interest rates if upcoming data fails to show a rebound in the British economy.

Stocks on the move

Pennon Group shares jumped 6% after the Telegraph newspaper reported that the British water company plans to sell its waste arm Viridor. Tullow Oil climbed 5.8% after BMO upgraded the stock to “outperform” and raised its price target.

At the other end of the European benchmark, NMC Health slid 2.9% as Goldman Sachs disclosed an 8.9% stake in the Abu Dhabi-based hospital chain.

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                                    On Friday 10, January 2020

Corrected: European stocks close lower as US imposes fresh sanctions on Iran

Chloe Taylor, Elliot Smith, Ryan Browne


European stocks closed in negative territory on Friday, paring earlier gains after the U.S. announced fresh sanctions on Iran.
The pan-European Stoxx 600 had dipped below the flatline by the closing bell, with most sectors and all major bourses in the red. The blue-chip stock index closed lower by 0.12%.
The FTSE 100 in London closed the session down by 0.14% to close at 7587.
Sentiment was dented shortly before the end of the European trading session when U.S. Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin announced new sanctions on Iran's metal exports and eight senior Iranian officials.
The announcement came days after Iran launched several missiles at Iraqi military bases that housed U.S. troops.
Prior to the announcement, global market sentiment had been improving as tensions between Washington and Iran appeared to be easing.
President Donald Trump said Wednesday that Iran appeared to be "standing down" following the missile strikes, which were in retaliation to Washington's killing of top Iranian general Qasem Soleimani.
Reports emerged Thursday claiming a Ukraine-bound flight that crashed shortly after take-off from Tehran had been shot down by an Iranian missile. Government officials say it could have been downed by mistake. Iran's aviation regulator dismissed the claims as "illogical rumors," and Tehran maintains the aircraft crashed due to a technical problem.
Elsewhere, seemingly thawing Sino-U.S. relations and optimism on the prospect of a trade deal between the world's two largest economies had also boosted sentiment during earlier deals on Friday.
Chinese Vice Premier Liu He is due to sign an initial "phase one" trade deal with the U.S. next week. Liu will visit Washington on Jan. 13-15, Beijing said on Thursday.
Stocks on Wall Street rose to record highs on Friday despite a weaker-than-expected December jobs report, but the Dow Jones Industrial Average fell into negative territory following Pompeo and Mnuchin's announcement.
Back in Europe, U.K. lawmakers approved legislation that will allow the country to exit the EU on Jan. 31 with a withdrawal deal. Meanwhile in France, the government has stood its ground on proposed pension reforms despite protests from tens of thousands of demonstrators across the country.

Stocks on the move

EasyJet shares jumped 4.2% after competitor Ryanair raised its full-year profit forecast. Ryanair stock was up by 5.5% during afternoon trade following the promising trading update on the back of a strong holiday season, while British Airways parent IAG also added 4.8%.
Shares of Evolution Gaming gained 6.3% after Parx Casino selected the company's products for the launch of new online casino services in Pennsylvania and New Jersey.
RWE climbed 6.4% on the back of a newspaper report suggesting that the German electricity utility could receive up to 2 billion euros ($2.2 billion) in compensation for a state-ordered shutdown of power stations.
Tullow Oil climbed 7.6% to lead the Stoxx 600, while at the other end of the European benchmark, retailer B&M saw its shares slump 6% after reporting slower-than-expected sales growth over the Christmas quarter.

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                                       On Thursday 9, January 2020

European stocks close higher amid cooling US-Iran tensions

Chloe Taylor, Elliot Smith, Ryan Browne


European stocks traded higher Thursday as investor sentiment improved on the back of easing U.S.-Iran tensions.
The pan-European Stoxx 600 was trading around 0.4% higher during the afternoon, with tech stocks adding 1.3% while the retail sector slid at least 0.5%.
It comes after comments from President Donald Trump which served to cool panic over rising tensions in the Middle East. Trump said Wednesday that Tehran “appears to be standing down” following missile strikes on Iraq airbases housing U.S. troops in retaliation to the killing of Iran’s top military general, Qasem Soleimani.
Trump added Washington would “immediately impose additional punishing economic sanctions on the Iranian regime” and called on U.S. allies including Britain, Germany and France to withdraw from the 2015 Iran nuclear deal and work to form a new agreement.
Separately, a report out Wednesday said two rockets hit the Green Zone in Baghdad, a day after the Iran retaliatory attacks. But Iraq’s military reportedly said there were no casualties.
China announced on Thursday that Vice Premier Liu He will travel to Washington to sign the much-touted “phase one” trade deal with the U.S. next week, cementing Beijing’s commitment to the formalization of the deal.
Stocks on Wall Street opened at record highs on Thursday as investor sentiment was lifted by apparently easing tensions between Washington and Tehran.
Back in Europe, European Commission President Ursula von der Leyen said Wednesday that the U.K. would find it “basically impossible” to negotiate all aspects of its future relationship with the EU by the end of 2020. The bloc’s recently appointed leader also said the relationship between the two countries “cannot and will not be the same as before.”
As for economic data, German factory output posted its biggest increase in a year and a half in November, rising 1.1% on the month to beat expectations and provide a signal that Europe’s largest economy gained momentum at the end of 2019.

Stocks on the move

Marks & Spencer shares plunged more than 10% after the British retailer reported a 0.6% fall in revenue in the third quarter of 2019 and suggested its 2020 gross margins will be at the lower end of its guidance.
At the other end of the European benchmark, Argenx climbed 6.2% after the Dutch biotech company announced positive phase two proof-of-concept data for an antibody trial and confirming its 2021 vision.
London-listed NMC Health was up 5.7%. The stock dropped by around 15% in the previous session after after two key investors sold their stakes in the company.
Tesco surpassed domestic competition to report a modest 0.1% Christmas sales rise, commenting that the festive period was “subdued” for consumer spending. Shares of Britain’s biggest retailer were up by around 1% in afternoon trade.

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                                  On Wednesday 8, January 2020

Europe stocks close slightly higher after Iran missile strike curbs sentiment; NMC Health down 15%

Elliot Smith, Ryan Browne

European stocks closed slightly higher on Wednesday, reversing earlier losses suffered after Iran fired missiles on Iraqi airbases housing U.S. troops.




























FTSEFTSE 1007574.931.080.01%597002095
DAXDAX13320.1893.350.71%88178791
CACCAC6031.0018.650.31%71219242
The pan-European Stoxx 600 was around 0.1% lower at the closing bell, with travel and leisure stocks adding 0.6% to lead gains while food and beverages slipped 0.6%.
Markets in Europe got off to a rocky start after Tehran retaliated to Washington's killing of its top military commander, launching more than a dozen ballistic missiles targeted at U.S. military forces in Iraq. It was not immediately clear whether any U.S. service members were harmed in the attacks.
However, market participants seemed to interpret the action as a contained response to the targeted killing of Qasem Soleimani, with fears of an escalation easing somewhat during Wednesday's trading session.
Iranian Foreign Minister Mohamad Javad Zarif said via Twitter that "we do not seek escalation or war, but will defend ourselves against any aggression."
"All is well!" President Donald Trump tweeted, adding that an assessment of casualties was taking place.
Back in Europe, British Prime Minister Boris Johnson is meeting with European Commission President Ursula von der Leyen Wednesday, where he is due to tell her that the U.K. will not extend its transition out of the EU beyond Dec. 2020.
In corporate news, Sainsbury's reported a weak Christmas quarter before the bell, attributing a drop in like-for-like sales to poor demand for general merchandise while emphasizing solid food sales. The British supermarket chain's stock was 1.6% lower at the end of Wednesday's session.
As for data, German factory orders fell unexpectedly in November on the back of weak foreign demand, according to figures published Wednesday morning.
However, data published Wednesday by economic institutes Ifo in Munich, KOF in Zurich and Istat in Rome suggested that the euro zone economy is gaining momentum. The Ifo Institute said that economic growth will rise to 0.3% in the fourth quarter of 2019 from 0.2% in the previous quarter.
The research groups anticipate 0.3% quarter-on-quarter growth in each of the first two quarters of 2020, with industrial production and investment also gathering pace.

Stocks on the move




































Shares of London-listed NMC Health plunged almost 16% after two investors sold their stakes in the company. The Abu Dhabi-based hospital chain has been embroiled in a protracted dispute with activist short-seller Muddy Waters over its accounting practices.
At the top of the European benchmark, video game producer Ubisoft's shares gained 4.7%.
Italian infrastructure company Atlantia gained 4% on hopes that fresh talks with the government could salvage its motorway concession, according to Reuters.
British manufacturing equipment company Rotork slid 6.3% after Bank of America cut the stock from "buy" to "underperform," citing limited momentum in 2020.

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                                      On Tuesday 7, January 2020

European stocks close higher as geopolitical fears abate; Aston Martin shares tumble

Chloe Taylor, Elliot Smith, Ryan Browne





































European shares closed higher on Tuesday amid an easing of concerns over geopolitical tensions in the Middle East.
The pan-European Stoxx 600 was provisionally 0.3% lower at the closing bell, with tech stocks up more than 1.3% while oil and gas stocks gave back 0.5%, having previously surged on the back of U.S.-Iran escalations.
Market focus is largely attuned to geopolitical developments following Washington's targeted killing of Iran's top military commander Qasem Soleimani in Iraq. Equity markets fell the past two sessions amid a flight to safety, but look to be changing course as Monday passed with no new escalation in tensions.
Confusion arose however as a letter surfaced showing U.S. plans to pull troops from Iraq, only to be followed by Defense Secretary Mark Esper labeling it "inconsistent" and stating "there has been no decision whatsoever to leave."
Stocks on Wall Street were mixed on Tuesday amid the ongoing geopolitical tension.
Back in Europe, Spanish Socialist leader Pedro Sanchez on Tuesday narrowly secured parliamentary backing for his left-wing coalition government after almost a year of caretaker governments and political stalemate.
In terms of data, euro zone inflation picked up by 1.3% in December as expected, compared to 1.0% in November, but is expected to dip again at the start of 2020, according to Eurostat. Inflation remains well below the European Central Bank (ECB) target of close to, but below, 2%.

Stocks on the move





































British luxury carmaker Aston Martin plunged more than 16% after issuing a profit warning on Tuesday morning.
French pharmaceutical company Ipsen climbed 5.8% after announcing a newly designed delivery system for its Somatuline Autogel, while Danish jeweler Pandora added a further 3.4% after Bank of America and Danske Bank raised their price targets for the stock.
At the other end of the European benchmark, NMC Health shares ended the session 10.6% lower after a torrid few weeks on the back of an attack by U.S. activist short-seller Muddy Waters.
Elsewhere, shares of UBS rose by 2.6% after it was reported that the lender would cut up to 500 private banking jobs as part of a business overhaul.

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                                    On Monday 6, January 2020

European stocks close lower as US-Iran tensions fuel safe haven buying

Elliot Smith, Ryan Browne


European stocks traded lower on Monday, as investors monitored rising tensions between the United States and Iran.
The pan-European Stoxx 600 slightly pared early losses but was still down by around 0.4% by the close. Travel & leisure , autos and chemicals baskets all fell more than 1% to lead losses as almost every sector traded in the red.
Market players are fleeing riskier assets like equities in favor of safer alternatives like gold and bonds after a U.S. airstrike last week killed Iran’s top military commander, Qasem Soleimani, in Iraq. The attack has heightened already-volatile relations between Washington and Tehran.
Oil is also surging on the back of intensifying U.S.-Iran tensions, amid fears it could disrupt supply in the Middle East. Brent crude futures were up 1%, or 72 cents, at $69.33 a barrel at 3:00 p.m. London time. U.S. West Texas Intermediate (WTI) crude futures climbed 0.9%, or 55 cents, to $63.60.
Over the weekend, Iraq’s parliament passed a resolution calling for the government to expel foreign troops from the country. President Donald Trump responded by threatening to impose sanctions on Iraq. Meanwhile, Iran has declared it will no longer adhere to uranium enrichment restrictions agreed under the 2015 nuclear deal.
Back in Europe, Spanish Socialist leader Pedro Sanchez failed to secure parliament backing to form a government. He’ll have another chance on Tuesday, when another vote will be held in which he only requires a simple majority.
On the data front, euro zone business activity hovered near stagnation in December, according to IHS Markit’s final composite PMI (purchasing managers’ index) figures published Monday.
The currency bloc’s reading edged up to 50.9 in December from November’s 50.6, slightly beating expectations but remaining just above the 50 mark, which separates growth from contraction.
France, Germany and Italy all saw service sector PMIs pick up in December to either match or beat forecasts, with improvements over the broad set of data pushing the euro higher.
Sterling climbed after Britain’s service sector surged on the greater certainty resulting from the landslide Conservative election victory last month, despite a stagnant economy. December’s composite PMI for the U.K. was revised up to 50.0 from an initial “flash” estimate of 49.0.

Stocks on the move

Jeweler Pandora leaped 11.9% after issuing a muted trading update but confirming its financial guidance for 2019, while Britain’s John Wood Group led the bounce for oil stocks on the back of escalations in the Middle East, climbing 5.3%.
At the other end of the European benchmark, British property developer Hammerson slid 5.3% while German wholesale and food specialist Metro fell 3.7% after Bernstein downgraded the company’s stock, citing its “weak business structure.”
Covestro shares slumped 4.9% after Societe Generale and Mainfirst brokers warned of declining earnings in 2020, according to Reuters.
London-headquartered Hikma Pharmaceuticals slid 3.6% after J.P. Morgan downgraded the stock.

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                                     On Friday 3, January 2020

European stocks close lower after US airstrike kills Iranian commander, spiking tensions

Elliot Smith


European stocks closed lower on Friday as geopolitical tensions spiked after U.S. airstrikes in Iraq killed a top Iranian military commander.
The pan-European Stoxx 600 closed provisionally down 0.4%. Travel and autos stocks led the losses while oil and gas shares rose over 1% on the back of renewed unrest in the Middle East.
Iranian Major-General Qasem Soleimani, head of Tehran’s elite Quds Force, was killed early on Friday by a U.S. airstrike on his convoy at Baghdad airport.
Iran’s Foreign Minister has tweeted that the U.S. bears responsibility for all consequences of its “rogue adventurism,” while Fars News Agency reported a spokesman as saying that Iran’s top security body will meet to discuss Tehran’s response.
Oil prices spiked following the attack, with Brent Crude and WTI both up more than 2% Friday.
Equities stateside also sank on the back of geopolitical worries. The Dow Jones Industrial Average declined over 200 points while the S&P 500 and Nasdaq indexes were both down about 0.6%.

Stocks on the move

Shares of Swedish Match rose over 3% to lead the Stoxx 600 in afternoon trade as tobacco stocks were boosted by the U.S. Food and Drug Administration’s (FDA) final vapor guidance.
Airlines Lufthansa and Air France KLM slid around 7% and 8% respectively as airlines broadly declined on the back of the sharp rise in oil prices.

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                                     On Thursday 2 January 2020

European stocks close higher on US-China trade deal hopes

Elliot Smith


European stocks closed higher Thursday after U.S. President Donald Trump said that a phase one trade deal with China will be signed on January 15.
The pan-European Stoxx 600 closed provisionally up by 1%, with bank and technology shares leading the gains as all sectors and major bourses traded firmly in positive territory.
President Trump announced in a tweet on Tuesday that a partial accord will be signed at the White House by senior Chinese negotiators in two weeks' time, though details of the deal remain hazy.
On Wall Street, stocks extended their gains from 2019 on the first trading day of the year. The Dow Jones Industrial Average was up 150 points, while the Nasdaq and S&P 500 indexes were also positive.
Back in Europe, Airbus has become the world's largest airplane manufacturer for the first time since 2011, ousting Boeing from the top spot after beating forecasts on its 863 aircraft in 2019, Reuters reported on Wednesday citing airport and tracking sources. Airbus shares gained more than 2%.
Euro zone manufacturing PMI (purchasing managers' index) data published Thursday morning showed that factory activity contracted for the 11th straight month, coming in at 46.3 in December.
U.K. manufacturing PMI was revised up to 47.5 for December but remained below November's 48.9 reading. The 50 level separates contraction from expansion.

Stocks on the move

German banks were among the biggest gainers Thursday with Commerzbank climbing around 7% while compatriot Deutsche Bank added 6%.
Tullow Oil shares slumped to the bottom of the pan-European benchmark, falling nearly 7% after the British oil company announced the results of drilling at its Carapa-1 well.

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                                     On Monday 30, December 2019

European markets close lower amid holiday trading activity

Silvia Amaro



European markets open lower amid holiday trading activity
European markets closed lower Monday despite hitting record highs last week amid quieter trading during the holiday season.
In corporate news, Italy is postponing until early 2020 the announcement of the sale of its stake in ailing bank Monte dei Paschi di Siena, Reuters reported. Shares of the bank were trading 0.8% higher on Italy's FTSE MIB index Monday.

The data calendar is thin with only inflation numbers out of Belgium expected at 11 a.m. London time.

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                                       On Friday 27, December 2019

European stocks hit record highs as investors follow optimism on Wall Street

Spriha Srivastava


European stocks hit record highs on Friday, following the rally in stocks stateside.
The pan-European Stoxx 600 hit fresh record highs on Friday, up 0.2%. The FTSE 100 is up 0.2%, meanwhile the German DAX is up 0.5% and the French CAC was up 0.3%.
In individual sectors, European miners were up more than 1%, on course for their best day in two weeks. Meanwhile, Food and Beverage and healthcare remained the underperformers.
Market focus is largely attuned to the U.S.-China trade development. Investors are running back into traditional assets ever since the announced they have reached a phase one trade agreement earlier this month. The two countries are in the process of translating the deal, aiming to sign it in early January.
In a regular press briefing on Thursday, the Chinese Commerce Ministry said China is in close touch with the U.S. on signing the initial trade pact. President Donald Trump said Tuesday the deal is “getting done,” adding there will be a signing ceremony with Chinese leader Xi Jinping.
On Thursday, stocks stateside hit record highs as the year-end rally continues.
Meanwhile, Oil prices rose in the afternoon of Asian trading hours, with international benchmark Brent crude futures adding 0.15% to $68.02 per barrel. U.S. crude futures also gained 0.24% to $61.83 per barrel.

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                         On Thursday 26, December 2019

Asia stocks edge higher in lackluster trade

Eustance Huang - Source: CNBC


Stocks in Asia edged higher in lackluster trade on Thursday a day after Christmas, as markets in Australia and Hong Kong remained closed for the holiday.
Mainland Chinese stocks rose on the day, with the Shanghai composite up 0.85% to around 3,007.35 and the Shenzhen component adding 0.72% to 10,303.72. The Shenzhen composite also gained 0.721% to about 1,709.45.
The Nikkei 225 in Japan was closed 0.6% higher at 23,924.92 while the Topix index added 0.57% to finish the trading day at 1,731.20.
South Korea’s Kospi also gained, ending 0.36% higher at 2,197.93 as shares of chipmaker SK Hynix jumped about 1%.
Overall, the MSCI Asia ex-Japan index was 0.11% higher.
Major markets across the region — including Hong Kong, South Korea and Australia — were closed on Wednesday for Christmas.
The market moves followed another muted session on Wall Street Tuesday, on Christmas Eve, which saw the Nasdaq Composite rising slightly to touch a new record high of 8,952.88. It was the first time since 1998 that the index posted its ninth uninterrupted record close. The Dow Jones Industrial Average fell 36.08 points to close at 28,515.45, while the S&P 500 ended its trading day little changed at 3,223.38.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.650 after seeing an earlier low of 97.609.
The Japanese yen traded at 109.54 per dollar after seeing an earlier high of 109.31. The Australian dollar changed hands at $0.6929 after touching an earlier low of $0.6915.
Oil prices rose in the afternoon of Asian trading hours, with international benchmark Brent crude futures adding 0.28% to $67.39 per barrel. U.S. crude futures also gained 0.28% to $61.28 per barrel.

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                                  On Tuesday 24, December 2019

European stocks close at record highs in holiday-thinned trade

Spriha Srivastava

European stocks hit record highs on Tuesday in a shortened trading session due to the Christmas holidays.
The pan-European Stoxx 600 rose 0.12%, touching an all-time high, with all major bourses ending in positive territory, with the exception of the German DAX that was down 0.13%.
In terms of individual sectors, performance was generally flat across the board, with travel and leisure at the top of the table, up 0.8%.
Ambu, a Denmark-based medical equipment company closed up more than 3.5%, followed by drugmaker Bayer at 3%. Shares of Bayer reached their highest level in 14 months after the U.S. government said that a $25 million glyphosate decision against the company should be reversed.
Meanwhile, NMC Health was the worst performing stock in morning trade, down more than 9%. The company’s London-listed shares jumped almost 34% on Monday after announcing a third party review of its business. The Abu Dhabi-based company’s stock had tumbled after U.S. short-selling hedge fund Muddy Waters attacked its balance sheet.

Year-end rally stateside

Market focus is largely attuned to developments on the U.S.-China trade front. Stocks stateside climbed on Monday, hitting yet another record high as the year-end rally continues.
Investors cheered the news that China will cut import tariffs on a wide range of goods. China’s finance ministry announced starting January 1, it will lower import tariffs on over 850 products ranging from frozen pork to some types of semiconductors. China is making efforts to boost imports amid a slowing economy and a trade war with the U.S.


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                                                      On Monday 23, December 2019

European stocks close mixed as investors take profits into holidays; NMC Health up 34%

Elliot Smith


European stocks closed mixed on Monday as investors sought to take profits into the holiday season following a sustained rally earlier in the month.
The pan-European Stoxx 600 hovered around the flatline by mid-afternoon, with autos falling 0.6% and bank stocks down 0.7% to lead losses while healthcare stocks added 0.2%.
Investors worldwide have received a festive boost after the agreement of a phase one trade deal between the U.S. and China, and Beijing’s finance ministry said on Monday that it plans to lower import tariffs on some U.S. products from January 1.
These will range from frozen pork to avocado as China looks to boost imports after a bruising 19-month trade war between the world’s two largest economies. U.S. President Donald Trump said on Friday that he had held a “very good talk” with Chinese leader Xi Jinping about the deal.
Asian stocks were mixed on Monday despite the upswing in trade relations, with mainland Chinese shares plunging across the board.
Sterling dropped to a three-week low against the dollar on Monday, hovering just above $1.29 during afternoon trade.
Back in Europe, Lufthansa cabin crew workers have threatened to strike during the holiday season following a breakdown in arbitration talks between the German carrier and cabin crew union UFO.
Meanwhile, the Italian industry minister said on Sunday that Chinese telecommunications giant Huawei should be allowed to play a part in Italy’s future 5G network.

Stocks on the move

NMC Health shares soared 34% after the company announced an independent review of its business following an attack from short-selling hedge fund Muddy Waters, which saw shares tumble over the past week.
At the other end of the European benchmark, Italian infrastructure group Atlantia slid 4.5% on fears that a law will pass on Monday making it easier and less costly to revoke concessions to operate motorways.

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                                       On Friday 20, December 2019

European stocks close higher as US-China trade relief rally continues

David Reid,Elliot Smith


European stocks advanced Friday as the recent rally on the back of U.S.-China trade progress looked set to continue into the holiday season.
The pan-European Stoxx 600 provisionally climbed 0.72% by the closing bell, with chemicals,  and food and beverages leading gains. All sectors except banks and autos traded in positive territory.
Investors worldwide have seemed content to take the substantial gains generated by positive news on U.S.-China trade over the past month heading into the festive period.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that the U.S. and China would sign their so-called phase one trade accord early in January following a technical “scrub.”
Earlier, Asian stocks ended mixed Friday despite Wall Street reaching new record highs in the U.S. on Thursday.
Back in the U.K, Financial Conduct Authority (FCA) Chief Executive Andrew Bailey has been named the new governor of the Bank of England, replacing the departing Mark Carney.
On the data front, U.K. third-quarter GDP (gross domestic product) grew by 0.4% quarter-on-quarter and 1.1% from the same period last year, according to the Office for National Statistics.
The FTSE 100 in London failed to make any gains but maintained its opening position to close at around 7577. Sterling moved slightly firmer after British lawmakers approved the government’s Withdrawal Agreement Bill in the House of Commons, clearing another hurdle for Britain’s EU exit at the end of January.
Meanwhile Germany’s DIW economic institute said on Friday that Europe’s largest economy most likely contracted by 0.1% in the fourth quarter.

Stocks on the move

Cruise ship operator Carnival topped the FTSE and Stoxx 600 after its profit and revenue beat for the quarter. The firm also forecasted a 2020 profit that bettered previous estimates. Shares rose 7.2%
At the other end of the European benchmark, NMC Health shares tumbled around 16% to mark a fourth straight day of losses after short-seller Muddy Waters revealed it was holding a short position on the stock. According to Reuters the firm lost around £2 billion in market value Friday.

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                                 On Thursday 19, December 2019

European stocks close as investors digest data and interest rate decisions

Elliot Smith


European stocks were mixed Thursday as investors digested economic data and interest rate decisions from central banks, with markets showing minimal reaction to U.S. President Donald Trump’s impeachment.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7570.2829.530.39366946016
DAXDAXDAX13201.97-20.19-0.1544569284
CACCACCAC5963.624.020.0740784398
The pan-European Stoxx 600 hovered around the flatline during afternoon trade, with autos sliding 0.7% to lead losses while oil and gas stocks added 0.7%.
Sweden’s Riksbank ended five years of negative interest rates on Thursday morning, hiking its benchmark repo rate by a quarter point to 0.0%.
The Bank of England held its main interest rate steady at 0.75% with its rate-setting committee voting 7-2 in favor of keeping the current level, and cut its fourth-quarter U.K. GDP growth forecast from +0.2% to +0.1%.
The central bank maintained the dovish stance exhibited after its previous meeting, commenting in an accompanying statement: “If global growth fails to stabilize or Brexit uncertainties remain entrenched, monetary policy may need to reinforce the expected U.K. recovery.”
Stateside, there was little market movement after the U.S. House of Representatives voted to impeach U.S. President Donald Trump for abuse of power and obstruction of congress.
The queen outlined the new U.K. government’s plans on Thursday after Prime Minister Boris Johnson’s Conservative Party secured a significant majority in last week’s general election.
In corporate news, Airbus is set to end 2019 with an increase in its order backlog, Reuters reported on Wednesday citing a senior executive, beating arch-rival Boeing in both orders and deliveries.
Meanwhile German automakers Daimler and BMW said Wednesday that they plan to exit the North American car sharing market due to the “volatile state of the global mobility landscape.”

Stocks on the move

Finnish pharmaceutical company Orion Corp saw its shares climb 2.6% to lead the Stoxx 600 in afternoon trade, while Clariant gained 1.7% after the Swiss chemicals company sold its Masterbatches unit for $1.6 billion and announced a planned payout to shareholders.
At the other end of the European benchmark, NMC Health shares slipped 12.7%, continuing to suffer the fallout of an attack by short-seller hedge fund Muddy Waters, while Hugo Boss fell 2.4% after Deutsche Bank downgraded the stock.

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                                  On Wednesday 18, December 2019

Europe stocks close mixed on revived no-deal Brexit fears; German business morale rises

Elliot Smith


European stocks closed mixed on Wednesday as investor caution returned following U.K. Prime Minister Boris Johnson’s vow to block an extension of EU trade talks beyond 2020, reviving fears of a “cliff-edge” Brexit.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7553.0127.730.37369277098
DAXDAXDAX13224.99-62.84-0.4742095369
CACCACCAC5964.39-3.87-0.0744562694
The pan-European Stoxx 600 closed flat with sectors and major bourses pointing in different directions.
Johnson on Tuesday used the power of his newly won parliamentary majority to set a hard deadline of December 2020 to reach a new trade deal with the EU, with the U.K. set to leave the bloc by January 31, in a bid to strong arm the bloc into hastening an accord.
With a phase one U.S.-China trade deal now agreed, Reuters reported Tuesday that U.S. President Donald Trump’s administration is finalizing a set of narrow rules limiting exports of sophisticated technology to China and other adversaries. U.S. tech companies may receive some reprieve having feared a more stringent crackdown.
On Wall Street, slim gains were capped as investors digested weak earnings from shipping giant FedEx.
In corporate news, Fiat Chrysler and Peugeot owner PSA on Wednesday confirmed a binding agreement over an approximately $50 billion merger to form the world’s fourth-largest automaker.
The German Ifo business climate survey released on Wednesday showed that business morale rose more than expected in December to hit a six-month high, indicating that Europe’s largest economy may have picked up steam in the fourth quarter despite persistent manufacturing sluggishness.
British inflation held steady at a three-year low of 1.5% in November, well below the bank’s 2% target, while euro zone inflation accelerated to 1% year-on-year in November from 0.7% in October, boosted by a steeper climb in food prices.

Stocks on the move

Volvo shares climbed 3% after the Swedish automaker announced a strategic alliance with Japan’s Isuzu Motors, German takeout service Delivery Hero added 2%.
Pearson shares added 2% after the company announced the sale of its remaining stake in Penguin Random House.
At the other end of the European benchmark, Ipsen shares fell 4% after the company announced the departure of its CEO, while Kion Group shares slid 3.9%.

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                                   On Tuesday 17, December 2019

European stocks close lower after record rally; UK's Johnson revamps hard Brexit threat

Elliot Smith


European stocks traded lower Tuesday as caution returned following a worldwide rally on the back of a “phase one” U.S.-China trade deal.
The pan-European Stoxx 600 slipped 0.73% by the close of play, with household goods shedding 2.7% to lead losses as most sectors and major bourses entered negative territory. Oil and gas and utilities stocks bucked the trend to climb 0.61% and 0.53% respectively.
The European blue chip index had ended Monday’s trading session at an all-time high, surpassing 418, after Washington and Beijing announced on Friday that an agreement had been reached and would be signed in January. However, some details remain in question. By Tuesday afternoon, the Stoxx 600 ended at 414.
Traders were also reacting to U.K. Prime Minister Boris Johnson’s revamped threats of a hard Brexit if the EU does not agree a free trade agreement by the end of 2020.
With the U.K. set to leave the bloc before January 31, Johnson will use his newly-secured majority in parliament to outlaw any extension to the Brexit transition period beyond the end of 2020, Reuters reported.
Meanwhile Johnson held a phone call on Monday with U.S. President Donald Trump in which the two leaders looked ahead to an “ambitious free trade agreement,” according to a Downing Street spokesman.
On Tuesday, U.S. Trade Representative Robert Lighthizer told Fox Business Network that a trade deal with the U.K. was a “priority” for Washington.
The Bank of England on Monday announced plans to tweak its capital requirements for British banks to allow them to continue lending in the event of an economic crisis.
In corporate news, Reuters reported citing sources that the board of Fiat Chrysler will meet Tuesday afternoon to consider a proposed $50 billion merger with French automaker Peugeot.

Stocks on the move

NMC Health shares plummeted 34% on Tuesday after U.S. short-selling titan Muddy Waters announced it had shorted the stock, citing “serious doubts about the company’s financial statements, including its asset values, cash balance, reported profits, and reported debt levels.”
Unilever shares dropped 6.9% by afternoon trade after the consumer goods giant cut its 2020 sales growth forecast.
Following the news of Johnson’s intention to dangle a “cliff-edge” Brexit as part of his trade negotiations with the EU, the U.K. domestic bellwethers which rallied on the Conservatives’ emphatic election victory slid across the board on Tuesday.
British banks RBSLloyds and Barclays all slid lower, led by a 5.9% fall for Lloyds, while Virgin Money U.K. fell 4.9%. British homebuilders also fell sharply.
Near the top of the Stoxx 600, Finnish state-owned energy company Fortum gained 3.2% while Swedish home appliance manufacturer Electrolux added 3.8%.


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                                     On Monday 16, December 2019

European stocks close higher as 'phase one' trade deal boosts sentiment; Stoxx 600 hits record high

Elliot Smith


European stocks traded sharply higher Monday after the U.S. and China agreed a ‘phase one’ trade deal, offering some optimism for risk assets.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME
FTSEFTSE 100FTSE7519.05165.612.251028655916
DAXDAXDAX13407.66124.940.9471200805
CACCACCAC5991.6672.641.2377240265
The pan-European Stoxx 600 closed higher by almost 1.5% during trade, surpassing 418 to hit an all-time high. Basic resources led the way with 2.3% gains as all sectors and major bourses traded firmly in positive territory.
Washington and Beijing announced on Friday that an agreement had been reached pending legal procedures, a significant step forward after a bruising 18-month trade war.
However, questions have been raised by market participants over some details of the deal which remain hazy, notably the scale of agricultural purchases and the prospect of China balancing bilateral trade flows.
U.S. Treasury Secretary Steven Mnuchin told CNBC on Saturday that the deal would be signed in early January and that phase two may then be negotiated in stages.
Asian stocks were mixed Monday with mainland Chinese stocks jumping on the back of better-than-expected industrial output data, while indexes in Japan and Hong Kong edged downwards.
Back in Europe, British Prime Minister Boris Johnson will welcome 109 new Conservative lawmakers to parliament on Monday, promising to move forward swiftly with Brexit and to increase funding to the National Health Service (NHS).
In corporate news, Reuters reported Sunday that China’s BAIC plans to double its stake in German automaker Daimler in a bid to win a board seat and challenge rival Geely.
On the data front, IHS Markit euro zone flash composite PMI estimates for December was recorded in line with expectations at 50.6, with service sector outperformance offsetting more disappointing manufacturing numbers.
Manufacturing PMIs came in at 45.9 against a forecast of 47.3, down from 46.9 in November.
U.K. flash readings showed that both the services and manufacturing sectors had declined more sharply than expected in December. Composite PMI came in at 48.5, its lowest level since mid-2016, suggesting the world’s fifth-largest economy is on course to contract in the fourth quarter

Stocks on the move

Royal Mail stock climbed almost 7% during the session, closely followed by a 6.75% gain for finacial services firm Hargreaves Lansdown as U.K. domestic shares continued to benefit from an expected easing of Brexit uncertainty.
Electrolux shares plummeted 10.6% after the Swedish home appliance company issued a profit warning owing to the costs of its U.S. manufacturing transition.
Tullow Oil tumbled 9.1% as the British energy giant continues to be blighted by problems with its Ghanaian operation.
Shares of Italian banks edged higher across the board after the government approved a bailout of unlisted co-operative lender Popolare Di Bari.


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                                    On Friday 13, December 2019

European stocks close higher on US-China deal; UK stocks rally on election result

Elliot Smith


European stocks closed higher Friday after news that the U.S. and China have reached a phase one trade deal, while the U.K.’s ruling Conservative Party won a commanding majority in the general election.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME
FTSEFTSE 100FTSE7353.4479.971.101906667651
DAXDAXDAX13282.7261.080.46106137124
CACCACCAC5919.0234.760.59113199450
The pan-European Stoxx 600 traded around 1.1% higher by the close of trade, with travel and leisure stocks soaring 3.7% to lead gains as all sectors and major bourses traded in positive territory. Retail stocks added 2.9% while both banks and basic resources each gained just shy of 1%.
U.K. Prime Minister Boris Johnson’s Conservative Party has won a commanding majority in the country’s general election, granting Johnson the power to drive through his Brexit deal and take the U.K. out of the EU before the January 31 deadline. The result is the party’s biggest election win since 1987.
China and the U.S. have reached an agreement on text of a phase one trade deal and will now move toward signing a deal as quickly as possible, Chinese officials said Friday. European equities had experienced a late bounce during Thursday’s session after the president tweeted that a deal was close.
In the U.S., Stocks seesawed as traders evaluated the deal.
Asian stocks jumped on the U.S.-China trade news, led by a 2.57% leap for Hong Kong’s Hang Seng index while Japan’s Nikkei 225 added 2.55% and mainland Chinese shares all posted strong gains.
Sterling was up 1.3% against the dollar to trade at around $1.3333 on Friday morning as markets reacted positively to the prospect of greater certainty around Brexit.

Stocks on the move

German takeout company Delivery Hero soared more than 22% after announcing a $4 billion deal to buy South Korea’s Woowa.
However, it was the only non-U.K. based stock among the top 50 best performers in the Stoxx 600, as British domestic stocks went through the roof following the election result. Virgin Money U.K. jumped more than 18% as a slew of British companies enjoyed double-digit share price gains. Banks RBSLloyds and Barclays led the European banking sector rally.

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                                     On Thursday 12, December 2019

European stocks close higher after Trump tweet

Elliot Smith


European equities have recovered after President Donald trump tweeted that the U.S. was “getting very close to a trade deal with China.”
Earlier Thursday, stocks had recorded minimal losses after the European Central Bank (ECB) kept its rates unchanged following new President Christine Lagarde’s first monetary policy meeting in Frankfurt.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7299.3483.091.15416449080
DAXDAXDAX13257.10110.360.8456295783
CACCACCAC5900.1739.290.6758215763
By late-afternoon the pan-European Stoxx 600 was around 0.5% higher, with banks, basic resources and autos leading the charge in the wake of Trump’s trade-friendly tweet.
Earlier the ECB Governing Council had voted to keep the main deposit rate at the historic low of -0.5%, in line with market expectations, while the marginal lending facility remained at 0.25%.
Investors will be watching closely for hints on future policy decisions and indications as to whether Lagarde will continue in the same vein as her predecessor, Mario Draghi.
Stocks had made a cautiously optimistic start to the trading session after the U.S. Federal Reserve held rates steady at its last policy meeting of 2019 on Wednesday following three rate cuts in the past five months, but signaled that rates would remain accommodative with no hikes expected in 2020.
Stocks in Asia mostly inched higher following the decision, led by a 1.26% jump for Hong Kong’s Hang Seng index, while mainland Chinese shares offered a more mixed picture.
Back in Europe, voters head to the polls Thursday in the U.K.’s second general election since the landmark vote to leave the European Union in 2016. The election promises to be pivotal for the fate of Brexit and the country’s economic policy.
The Ifo Institute on Thursday confirmed its 1.1% growth forecast for the German economy, while revising its 2021 projection up from 1.4% to 1.5%.
Euro zone industrial output declined by 0.5% month-on-month in October and was down 2.2% from the same period last year, official EU statistics revealed on Thursday.

Stocks on the move

Tullow Oil continued its recovery from Monday’s 70% plunge to add 13.7% by early afternoon, while British infrastructure group Balfour Beatty saw its shares climb 4.2% after upgrading its full-year profit guidance.
At the bottom of the European blue chip index, Finland’s Konecranes dropped 4.5% while French retailer Casino shed 3.6%.

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                                  On Wednesday 11, December 2019 

European stocks close higher as investors await Fed decision and US-China trade news

Elliot Smith


European stocks traded cautiously Wednesday as investors await the U.S. Federal Reserve’s interest rate decision and monitor developments ahead of the weekend’s U.S.-China trade tariff deadline.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7213.74-0.020.00497519049
DAXDAXDAX13149.4378.710.6043205924
CACCACCAC5863.1115.080.2637603395
The pan-European Stoxx 600 movedslightly higher in afternoon trade, with utilities and basic resources leading gains.
The Fed’s final interest rate decision of the year is due later in the day stateside, with the central bank widely expected to hold rates steady.
Meanwhile traders will be keeping a keen eye on discussions between the U.S. and China ahead of Sunday’s planned implementation of an additional 15% tariffs on around $160 billion in Chinese exports to the U.S.
The Wall Street Journal reported Tuesday that Washington plans to delay the tariffs as the two sides negotiate a potential “phase one” trade agreement.
Stocks in Asia were mixed Wednesday afternoon with China’s Shenzhen component shedding 0.64% to lead losses while Hong Kong’s Hang Seng index rose by around 0.8%.
A closely-watched final YouGov poll ahead of Thursday’s U.K. election showed the race has tightened considerably in recent weeks, with Prime Minister Boris Johnson’s Conservative Party now less certain to win an outright majority of seats in Parliament.
Sterling slipped against the dollar in reaction to the news, with markets largely pricing in a comfortable Johnson victory.
In an update before the bell on Wednesday, Credit Suisse said it expects a return on tangible equity (ROTE) above 8% in 2019, revised down from its previous target of 10-11%, with the Swiss lender also cutting its profitability ambitions for 2020. Shares of the Swiss lender traded 0.2% lower in afternoon deals.

Stocks on the move

Tullow Oil shares continued to recover after Monday’s 70% plunge, climbing 6.6% by mid-afternoon, while Zara owner Inditex added 4.2% after reporting strong profit growth.
Shares of JD Sports tumbled 9.5% after its top shareholder Pentland announced that it had cut its stake in the British sporting goods giant while retaining its position as majority shareholder.

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                                    On Tuesday 10, December 2019

European stocks close lower after report of delay to US-China tariffs

Chloe Taylor, Elliot Smith


The pan-European Stoxx 600 was 0.3% lower at the closing bell, with telecoms stocks leading losses on a decline of 0.8%.
The Wall Street Journal reported on Tuesday that U.S. negotiators had asked Chinese officials to commit to some up front agricultural purchases, while Beijing wants those purchases to be proportional to rollbacks of existing U.S. tariffs.
Britain’s political parties are heading into the home stretch of campaigning ahead of Thursday’s landmark general election, which will be pivotal for Brexit and economic policy. Prime Minister Boris Johnson’s Conservative Party remains favorite to win a majority of seats, but the opinion polls have narrowed in recent weeks.
With the election looming, U.K. GDP flatlined month-on-month in October and grew at its slowest annual pace in nearly seven years, rising by just 0.7% compared with October 2018. Having shrunk in the previous two months, the figures represented the first three-month period without any growth in a decade.
The ZEW German economic sentiment indicator surged to 10.7 for December from -2.1 in November following a recent unexpected rise in exports and stabilizing economic data throughout the euro area.
Stateside, the U.S. Federal Reserve on Tuesday kicked off its final two-day monetary policy meeting of the year, with markets widely expecting the central bank to hold rates steady.
Stocks on Wall Street traded slightly higher on Tuesday as investors monitored U.S.-China trade relations.

Stocks on the move

Belgian retailer Colruyt saw its shares climb 4.9% on Tuesday after reporting fiscal 2020 first-half results before the bell, while Tullow Oil rose almost 14% as investors looked to seize on the stock’s low valuation following a 70% plunge on Monday.
At the other end of the European blue chip index, Valeo shares slipped 7.4% after the French auto supplier issued its mid-term targets and altered the measure for its profitability targets.
Deutsche Bank shares slipped 0.8% after the German lender scaled back its revenue growth target.
Ashtead Group stock fell 6% after the British industrial equipment rental company missed estimates in its second-quarter 2020 results.

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                                     On Monday 9, December 2019

European stocks close lower amid weak Chinese data; Tullow Oil down 71%

Chloe Taylor, Elliot Smith


European stocks traded lower on Monday as weak Chinese export data highlighted the detrimental impact of its prolonged trade war with the U.S.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7235.14-4.52-0.06405940013
DAXDAXDAX13109.62-56.96-0.4332549518
CACCACCAC5841.59-30.32-0.5234096372
The pan-European Stoxx 600 hovered just below the flatline during afternoon trade, with oil and gas stocks falling 0.8% to lead losses while basic resources added 0.7%.
Chinese exports declined in November for the fourth consecutive month, falling 1.1% year-on-year compared to the 1% expansion anticipated by analysts in a Reuters poll.
Beijing’s trade discussions with Washington have yet to yield a much-touted “phase one” agreement ahead of a key deadline for additional tariffs on Chinese exports to the U.S. on December 15.
Stocks on Wall Street traded in mixed territory on Monday following three consecutive days of gains.
This promises to be a pivotal week with U.K. voters heading to the polls on Thursday. Prime Minister Boris Johnson over the weekend pledged to reduce immigration in a “transformative” Brexit, in a last appeal to the electorate as his lead in the polls over the main opposition Labour party has narrowed of late.
Meanwhile, French Finance Minister Bruno Le Maire has said France is ready to take threats from U.S. President Donald Trump to impose tariffs on French goods to the World Trade Organization (WTO), amid a row over French taxes on American internet giants.
German import and export data for October, published before the bell, offered a welcome surprise to rise by 1.2% despite global trade tensions.

Stocks on the move

Osram Licht shares jumped 14% after chipmaker AMS announced that its takeover bid for the German lighting manufacturer had been successful. AMS shares slid 4.5% on the news.
Another significant gainer was Carl Zeiss Meditec, which climbed 10% after Deutsche Bank upgraded the German company’s stock to “buy” from “hold” and increased its price target.
Shares of Tullow Oil plummeted more than 68% after the British oil giant’s CEO Paul McDade resigned with immediate effect and the company scrapped its dividend amid continuing difficulties in its Ghana operation.

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                                          On Thursday 5, December 2019

European markets edge lower at close after GDP data; basic resources slip

David Reid,Silvia Amaro


European stocks proved a mixed bag Thursday as investors monitored U.S.-China trade, data releases and an OPEC meeting.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7138.11-50.39-0.70403122693
DAXDAXDAX13087.14-53.43-0.4136321425
CACCACCAC5809.659.970.1746683605
The pan-European Stoxx 600 was 0.08% higher by mid-afternoon . Banks and construction stocks were among the top-performing sectors. Retail outperformed on reports that Kering is considering buying the Italian brand Moncler. Shares of the latter rose 8% in early afternoon trade.
Overall, investors are closely monitoring trade talks between China and the U.S. amid mixed signals about their progress. According to a Bloomberg report, citing people familiar with the talks, the two economies are moving closer on their first-phase deal. However, President Donald Trump has said that he could decide to delay a trade deal with China until after the 2020 Presidential election.
Elsewhere, a joint statement by NATO leaders on Wednesday said that the transatlantic alliance will stand together against threats from Russia and China. The statement comes after two-days of intense meetings in the U.K., where members clashed over the organization’s role.
Sterling has shifted firmly higher on expectations that next week’s U.K. general election will provide victory for the pro-Brexit Conservative Party. The pound touched a fresh seven-month high versus the dollar, hitting $1.3154 shortly befor 3.p.m. London time.

Ryanair, OPEC, German data

Meanwhile, in currency markets, sterling hit a seven-month high on Wednesday amid expectations that the upcoming general election will avoid a hung parliament. The British pound was up 0.2% against the U.S. dollar at $1.3131 on Thursday morning.
In the corporate world, Ryanair cut its passenger traffic forecast on Wednesday and Daily Mail & General Trust reported a drop in pre-tax profit for its fiscal 2019 year.
On the data front, German industry orders dropped 0.4% in October. The euro zone grew at a pace of 0.2% in the third-quarter of the year, unchanged from the previous quarter.
OPEC members are also due to start their first day of talks in Vienna. Market players are expecting deeper oil supply cuts later this week.

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                                    On Wednesday 4, December 2019

European markets close higher on US-China trade optimism

Sam Meredith


European stocks closed higher Wednesday as investor sentiment over the prospect of an initial U.S.-China trade deal improved.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7172.3513.590.19407172748
DAXDAXDAX13133.61144.321.1146225838
CACCACCAC5797.4370.211.2356569944
The pan-European Stoxx 600 closed provisionally up over 1%, with all sectors and major bourses in positive territory.
Market focus was largely attuned global trade developments. Bloomberg reported Wednesday, citing unnamed sources familiar with the talks, that the U.S. and China were moving closer to securing an agreement on the amount of tariffs that would be rolled back in a so-called “phase one” trade deal.
Europe’s basic resources shares led the gains following the report, with the sector climbing 1.7%.
Looking at individual stocks, France’s Ubisoft Entertainment rose to the top of the European benchmark after Morgan Stanley raised its stock recommendation to “overweight” from “equal weight” on Wednesday. Shares of the French game publisher rose 6%.
Sticking with France, Orange tumbled to the bottom of the index. The telecoms operator announced Wednesday that it plans to follow in the footsteps of rival companies by carving out its mobile towers in most European countries where it is present. Shares of Orange dipped over 4%.
On the data front, euro zone business activity held steady in November, official data released on Wednesday showed. A final reading of IHS Markit’s final euro zone composite Purchasing Managers’ Index (PMI) came in at 50.6, marginally above the 50 mark separating growth from contraction.

Trade talks

On Wall Street, shares rose amid the positive mood music around trade. The Dow Jones Industrial Average was up about 200 points, while the S&P 500 and Nasdaq indexes were also positive.
President Donald Trump on Tuesday said a limited trade agreement with China might have to wait until after the 2020 presidential election.
Speaking to reporters in London, Trump said he had “no deadline” for striking a deal with Beijing. It had previously been expected both countries could sign a “phase one” trade deal before the end of 2019. But market sentiment improved Wednesday on the back of Bloomberg’s report.
Earlier in the week, Trump threatened to slap duties against French goods and imposed tariffs on Argentina and Brazil imports. It appears to have dampened market sentiment at a time when many had hoped the U.S. and China might be able to de-escalate an ongoing trade war.
In the U.K., several world leaders have gathered in London to mark the 70th anniversary of NATO. The U.S. president abruptly canceled a scheduled press conference at the event, which has been marred by disagreement and drama.
Trump called Justin Trudeau “two-faced” after video emerged of the Canadian president and other world leaders appearing to mock the president in a hot mic gaffe.
Trudeau reportedly said he had a “great meeting” with Trump and attributed some of his surprise to the president’s “unscheduled announcement” that next year’s G-7 summit would be held at Camp David in Maryland.

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                                     On Tuesday 3, December 2019

Europe markets close lower after Trump comments on China trade deal; FTSE down 1.6%

Silvia Amaro


European stocks were sharply lower Tuesday after President Donald Trump said that it might be better to wait until after the 2020 election to strike a trade deal with China.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7162.92-123.02-1.69515591680
DAXDAXDAX12998.3933.710.2658786010
CACCACCAC5730.61-56.13-0.9758283669
The pan-European Stoxx 600 traded down by nearly 0.7% in late afternoon trade, as investors digested different developments on the trade front.
Speaking in London, President Donald Trump told reporters: “In some ways, I like the idea of waiting until after the election for the China deal, but they want to make a deal now and we will see whether or not the deal is going to be right.”
The U.S. general election is set to take place in November 2020. Beijing and Washington D.C. had previously pointed to the possibility of signing a phase one trade deal in the last quarter of 2019.
Meanwhile, Trump also announced Monday tariffs on steel and aluminum imports from Brazil and Argentina on Monday — sparking further global trade tensions. In this context, basic resources stocks fell more than 1% as the sector is highly volatile to global trade and metal news.

US tariffs on France

Furthermore, the U.S. trade representative also said Monday that it could put duties of up to 100% on certain French products. This is on the back of France’s decision to apply a tax on digital companies. The U.S. trade office concluded that the French levy is harmful to U.S. tech companies.
French luxury stocks were down on the news. KeringHermes and LVMH dropped more than 1%.
Meanwhile, investors are monitoring several high-level meetings as NATO leaders gather in the U.K. to celebrate the 70th anniversary of the organization. Prime Minister Boris Johnson is receiving German Chancellor Angela Merkel, French President Emmanuel Macron and Turkish President Recep Tayyip Erdogan.

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                                         On Monday 2, December 2019

European stocks fall as Trump threatens metal tariffs on Brazil, Argentina

David Reid,Sam Meredith


European stocks traded sharply lower Monday after President Donald Trump threatened to impose tariffs on metal imports from Brazil and Argentina.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7286.06-60.47-0.82569976432
DAXDAXDAX12982.47-253.91-1.9267647124
CACCACCAC5789.39-115.78-1.9658635981
The pan-European Stoxx 600 fell as much as 1.6% in late afternoon trading, with all sectors and major bourses deeply in the red. The German DAX was among the worst performing indexes, down about 2%.
Trump said on Twitter that he would reinstate duties on steel and aluminum from Brazil and Argentina, accusing both countries of devaluing their currencies and thereby hurting American farmers.
“Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries,” Trump said. The president also targeted the Federal Reserve, claiming the central bank should “Lower Rates & Loosen.”
The surprise announcement comes as investors monitor global trade developments, with the U.S. and China still trying to reach a so-called “phase one” trade deal.
It has long been expected that both sides would reach an agreement in order to avoid the U.S. imposing an additional 15% tariff on approximately $156 billion of Chinese products on Dec. 15.
However, the two economic powerhouses have so far been unable to agree on the terms of a limited trade deal. Beijing has demanded that all existing duties on Chinese goods must be scrapped as part of any agreement.
On Wall Street, shares slumped as traders reacted to disappointing economic data. The ISM manufacturing index fell to 48.1 in November, below an expected 49.4. Traders had earlier cheered Chinese manufacturing data that exceeded expectations.
In Europe meanwhile, euro zone manufacturing activity shrank for the 10th month in a row in November, official statistics showed on Monday. However, IHS Markit reported the worst may now be over for the bloc’s battered factories.

Economic data

Europe’s basic resources stocks — with their heavy exposure to China — led the gains, up around 1.2%. ArcelorMittal and Glencore were among the top performers, both more than 1.5% higher.
Looking at individual stocks, Germany’s Lufthansa led the gains among travel and leisure stocks on Monday morning. It comes shortly after reports emerged suggesting that Qatar Airways was considering taking a stake in the company. Shares of Lufthansa were up nearly 2% on the news.
Sticking with Germany, Deutsche Bank shares pared their losses during mid-morning deals. The U.S. Department of Justice is thought to be stepping up its investigation into the flagship lender’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, Reuters reported on Monday, citing four unnamed sources familiar with the matter.
Elsewhere, Trump is expected to arrive in the U.K. on Monday ahead of a NATO summit. His trip to London comes at a hyper-sensitive time in U.K. politics, with just 10 days to go before Britons head to the ballot box.

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                                 On Friday 29, November, 2019

European markets close lower amid US-China tensions over Hong Kong

Elliot Smith,Ryan Browne


European markets traded lower Friday amid strained relations between the U.S. and China over protests in Hong Kong.
TICKER COMPANY NAME PRICECHANGE %CHANGE VOLUME 
FTSEFTSE 100FTSE7346.53-69.90-0.94627336454
DAXDAXDAX13236.38-9.20-0.0771753741
CACCACCAC5905.17-7.55-0.1361639257
The pan-European Stoxx 600 pared early losses to return to the slide lower during afternoon trade. Basic resources dropped more than 1% to lead losses while technology stocks gained 0.2%.
Sentiment was dampened by a recent escalation in tensions between Washington and Beijing after U.S. President Donald Trump signed legislation in support of the Hong Kong protesters. China’s foreign ministry responded, claiming the U.S. had “sinister intentions.”
Shares in Asia fell on concerns that the news could lessen the chances of the world’s two largest economies reaching an initial “phase one” trade deal. MSCI’s broadest index of Asia-Pacific shares excluding Japan sank 1%.
Back in Europe, French President Emmanuel Macron renewed his criticism of NATO Thursday, defending his claim the military alliance was suffering a “brain death.”
Next week will be a busy one in geopolitics, with NATO due to meet for its 2019 summit and Trump set to meet Queen Elizabeth II in London.
In terms of data, U.K. figures released Friday showed consumer confidence remained stuck at its lowest level since 2013 in November, amid uncertainty over the Dec. 12 general election.
Meanwhile, French GDP grew by 0.3% in the third quarter, in line with preliminary estimates.
British online supermarket Ocado was the largest individual stock mover, jumping 9.7% after it entered the Asian market by signing a tech partnership with Japan’s Aeon.
At the other end of the Stoxx 600, DNB stock fell 6.4% after Norwegian police announced an investigation into the bank over Icelandic money-laundering allegations.
Sweden’s Aak slid 3.7% while U.K. financial advice group St. James’s Place saw its stock fall 2.7%.

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