قالب وردپرس درنا توس
Home / Business / European equities and Dow futures trade lower as earnings fall and worries about slow recovery

European equities and Dow futures trade lower as earnings fall and worries about slow recovery



Shell Petroleum refinery in Pulau Bukom from Singapore in 2020 July 16

Roslan rahman / Agence France-Presse / Getty Images

On Thursday, the day of the busiest second-quarter earnings season, European stock prices were lower on Thursday, worried about a slow economic recovery and a possible second wave of a coronavirus pandemic.

Stoxx Europe 600 SXXP
-1.23 percent
decreased by 1.4%. US stock futures YM00,
-0.84 percent.
fell sharply following the opening up of European stock markets.

German DAX DAX,
-2.33 percent
2.5% slip and FTSE 100 UKX
-1.51 percent
decreased by 1.7%.

Traders looked at the U.S. economy, where Federal Reserve Chairman Jerome Powell once again said the central bank didn’t even think about raising interest rates, as second-quarter gross domestic product is expected to show a 35% annual drop when they launch in the morning 8: 30.

Germany reported the largest decline in GDP since 1970, when the euro area’s largest economy contracted by 10.1% in the quarter.

UK Prime Minister Boris Johnson fears a second wave of coronavirus in two weeks, the Daily Mail reported, citing a Downing Street source. Globally, total coronavirus cases have exceeded 17 million.

The profit season continues on both sides of the Atlantic. According to FactSet Research, 40 percent As a result, Stoxx Europe 600’s corporate revenue fell 42% in the second quarter.

Anheuser-Busch InBev ABI,
+ 5.46 percent
BUD,
+ 1.90%
Budweiser Brewery’s second-quarter earnings were lower than expected after the write-off of its African business. However, revenue declined less sharply than estimated for Latin American and Asian businesses.

Lloyds Banking Group LLOY,
-6.39 percent
fell by 8% after recording an unexpected pre-tax loss for the first year of 2020. half-year by ordering a large impairment charge.

Royal Dutch Shell RDSA,
-1.95 percent
write off $ 16.8 billion and said contract delays are expected to exacerbate the impact of low oil prices in the third quarter, while rival Total FP
+ 1.55 percent
took $ 8.1 billion in impairment.

AstraZeneca AZN,
+ 2.46 percent
rose 2.3 percent as the UK pharmaceutical giant reported an increase in second-quarter net profit and reported that coronavirus vaccine trials are currently underway with Oxford University researchers.

U.S. earnings will also come on Thursday. Major technology companies Alphabet, Amazon.com, Apple and Facebook have announced the cessation of trading.


Source link