LONDON – Investors in France and Germany are digesting new lockdown measures and European markets will whip up on Thursday morning as they wait for the European Central Bank’s latest monetary policy decision.
Pan-European stocks were up 0.2% in early trade after the 600-day opening. The tech sector fell 1.1%, while insurance stocks fell 0.9%.
European stocks faced their worst single-day drop since the end of September on Wednesday as lockout measures were announced by Germany and France to stem a new wave of Covid-19 cases spreading across Europe. A new study from Imperial College London found that with cases doubling every nine days, the British government is also under pressure to tighten restrictions.
On November 3, U.S. Markets are also in turmoil ahead of the by-elections, as coronavirus cases are on the rise and expectations of a near-term stimulus are fading. Wall Street on Wednesday faced its worst sell-off in several months with the Dow falling 934 points. Futures showed positive disclosure on Thursday.
Shares in Asia-Pacific also fell overnight on Thursday following the Wall Street sinking, while South Korean and Australian Australian stocks fell about 1.7%, causing losses.
Returning to Europe, on Thursday, the ECB will focus on interest rate decisions at 12:45 pm London time, while October’s final consumer confidence and industrial, economic and services sentiment readings for the euro zone are set to take place at 10am.
On Thursday, the UK is expected to lash out at both the European Union and the US over their “harmful” trade practices as the country seeks to secure a post-Brexit trade arrangement with both key allies.
Earnings focused
Corporate earnings have been on investors’ radar, Credit Suisse reported a 38% drop in net profit in the third quarter on Thursday as the coronavirus epidemic and “significant foreign exchange headwinds” weighed on the bank’s earnings.
According to Reuters Icon, net income from shareholders rose to 546 million Swiss francs (600 600 million), below analysts’ expectations of 679 million Swiss francs. Shares of the Swiss donor fell more than 4.5% in early trade.
Oil chief Royal Dutch Shell was informed on Thursday of better-than-expected expectations of અને 955 million and announced plans to increase its dividends to shareholders. Shares are up%. %%.
BT shares rose 5% after the telecom firm announced first half earnings to meet expectations and increase its guidance. German software company Nemetschek was the biggest gainer on the Stocks 600, adding more than 9% after raising its outlook.
At the bottom of the European Blue Chip Index, Finnish telecom giant Nokia sank more than 17% after cutting its guidance for 2020 and setting its 2021 target below market expectations.
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