DAX was down by 0.24%, and most of the European stocks were low

DAX was down by 0.24%, and most of the European stocks were low

By: Oliver Miller | Where To Trade | On:Thursday, November 17, 2016
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On Thursday, markets continued to pause after the recent post U.S. election rally in global equities and saw the release of the final euro zone inflation data a bit later in the day. This made the European stocks mostly lower. 

During the European morning trade, the Euro Stoxx 50, France's CAC 40 fell 0.17 percent, and Germany fell 0.24 percent.

Meanwhile, hopes that the increased fiscal spending and tax cuts under Donald Trump's administration will encourage the economic growth and inflation were strengthened by the global equities. 

French lenders BNP Paribas and Societe Generale fell 0.96 percent and 1.52 percent. Following their example, Germany's Deutsche Bank fell by 0.28 percent.

On the Spanish markets, Spanish banks BBVA and Banco Santander fell 0.39% and 0.69%. Their course was followed by Intesa Sanpaolo and Unicredit in Italy, both lost 1.48% and 2.47% respectively.

Henkel rapidly fell 1.53% after the company said that it plans to focus more on their top 10 brands and expand its e-commerce sales. The German consumer good group said that this comes a respond to the volatile markets and the declining demand in Western Europe. 
Germany's markets had upsides too, represented by Deutsche Telekom, that  declared that it's not "in the mood " to sell T-Mobile US. As a consequence, the company saw its shares climb 0.49%.

In London, Barratt Developments declared  that, due to the declining demand,it started cutting prices on its most expensive London homes, this way FTSE 100 added 0.16%,  and shares on Barratt Developments rallied 1.60%.

Mining stocks add more to gains, as Rio Tinto and Glencore rose 0.25% and 0.68% while Randgols Resources and Anglo American jumped both by 1.32% and 1.45% respectively.

Rio Tinto fired two of their top executives, due to $10.5 million scandal over iron ore mine in Guinea. After protests in Chile, Anglo American announced on Wednesday that its suspending all its operations in Los Bronces copper mine. 

The Royal Bank of Scotland lost 2.14% and shares in HSBC Holdings rose 0.05%, making the financial stocks confused. Same situation happened with Lloyds Banking and Barclays, the first one tumbled 1.08%, while the second one gained 0.53%.

On the other side, in the United States, equity markets had a higher opening. The Dow Jones Industrial Average futures gained 0.04%, and the S&P 500 futures rose by 0.01%. 

 

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

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