European stocks continue to recover as banks are left behind


The Santander Bank logo is seen on September 2, 2020 on a building in Warsaw, Poland.

Alexander Kalka / Zuma Press

European shares increased gains on Thursday, as data suggest the economic recovery moves ahead with signs of potentially more stimulus.
1.7% on Wednesday and 33% off its March lows, Stokes Europe 600 SXXP,
+ 0.81%
Rose 1%.

French CAC 40 PX1,
+ 1.50%
German Dax rose 1.8%,
+ 1.02%
And UK FTSE 100 UKX,
+ 0.63%
Land also acquired. France is releasing details of its € 100 billion stimulus plan.
The euro gained after the relief from EURUSD’s breakneck rise,
-0.32%,
And pounds GBPUSD,
-0.52%,
Against the dollar. Comments made this week by the European Central Bank’s chief economist Philip Lane said that expectations had risen next week of the ECB meeting in terms of the euro / dollar rate.

But the backdrop for the advance is the rally on Wall Street, which sent the S&P 500 SPX, on Wednesday.
+ 1.53%
Its 22nd record high and the Nasdaq Composite Comp,
+ 0.97%
For his 43rd record. In the US, it was not a technology stock, but utilities and materials companies made gains. The new negotiation report on the stalled stimulus bill has raised expectations of the deal.
Meanwhile, a host of service sector data on both sides of the Atlantic will keep the economy moving towards its pre-epidemic levels. The Purchasing Managers Index of eurozone services barely held above the 50 level, pointing in detail, while the UK services PMI jumped in August.
Popular Euro Stokes 50 SX5E,
+ 1.11%
Will be shuffled with banks, Societe Generale GLE,
+ 2.01%
And BBVA BBVA,
+ 2.05%
The five being removed are headlining, and Banco Santner San,
+ 2.32%
According to Deutsche Bank, Stocks Europe is splitting from 50. European banks, already struggling with years of negative interest rates and low growth, took cumulative lending provisions of € 33 billion in the second quarter. Euro Stokes Bank Index SX7E,
+ 1.47%
37% slipped this year.

On Thursday, in shares of shares, Siemens Healthiners S.H.L.
-3.90%
It fell 4% after saying that institutional investors were sold 2.73 billion of new shares, helping finance the purchase of Varian Medical Systems.
Melrose Industries MRO,
+ 12.63%
The loss-making UK company said it jumped 13% in the summer, but had higher turnover expectations in the summer. Like many companies, it said it would not pay dividends.

    .

Leave a Reply

Your email address will not be published.