JustusMarx @JustusMarx: "European Stocks on Longest Losing..."

Germany

European Stocks on Longest Losing Streak Since October European stocks are heading towards their longest losing streak since October, with the benchmark Stoxx 600 falling by over 0.5%. The decline is led by stocks in the travel, leisure, and basic materials sectors. $SRT.DE (Sartorius AG) plunged by over 13% after lowering its annual forecast, while $UBI.PA (Ubisoft Entertainment SA) fell more than 8% following a mixed release of its annual targets. A technical outage of $MSFT (Microsoft) online services, linked to cybersecurity firm $CRWD (Crowdstrike Holdings) is disrupting the services of airlines, railways, banks, media companies, and even the London Stock Exchange worldwide. US stock futures are also showing a downward trend. Contracts on the $SPX500 fell by about 0.1% after dropping nearly 1% on Thursday. The $NSDQ100 also lost 0.1%, with Microsoft being the biggest drag, down 2.1%. Initial jobless claims in the US have risen as much as they have since early May. This supports expectations that the Federal Reserve will soon cut interest rates but also heightens concerns about the health of the economy. Investors are also considering the implications of a potential second presidency for Donald Trump. Ten-year government bond yields stood at about 4.2%, and the USD Index was able to maintain its gains from the previous session for the time being. The $IAPD.L fell by over 1%, marking its biggest weekly decline in three months. Chinese stocks in Hong Kong plunged after the Third Plenum failed to convince investors of new economic growth impulses. Asian currencies slipped against the USD amid a stock sell-off. Concerns about potential US restrictions on chip sales to China continued to weigh on $TSM (Taiwan Semiconductor Manufacturing Co Ltd - ADR) which fell for the third consecutive day despite a positive quarterly report and solid forecasts on Wednesday. $CHINA50 $HKG50 $OIL prices remained unchanged at $81.2 per barrel. Concerns about a slowdown in Chinese economic growth are weighing on oil prices despite signs of strong demand and declining inventories in the US. The $GOLD price fell to $2,420 per ounce, continuing the recent correction following strong price gains. As market uncertainty increases and Joe Biden might drop out of the US presidential race, further increasing uncertainty, the demand for gold as a safe haven could rise.

12 Mentioned Show all