European stocks rise, separated from American technology fears


A worker assembles VW ID.3 electric cars at the Volkswagen factory on July 31, 2020 in Zwickau, Germany.

Jane’s Cluometer / Getty Images

European stocks advanced on Monday, separating from the US after a week for markets.
Stoxx Europe 600 SXXP, down 1.9% last week,
+ 1.06%
With automobile manufacturers, including Renault RNO, rose 1.1%,
+ 2.96%
And Volkswagen VOW3,
+ 3.39%
Mounting.

German DAX DAX,
+ 1.27%,
French CAC 40 px 1,
+ 1.18%
And UK FTSE 100 UKX,
+ 1.45%
Advanced too.
US stock futures, which will still trade despite US markets closing for Labor Day holiday, were particularly low for the technology-oriented Nasdaq-100NQ00,
-0.92%.

The tech-dominated Nasdaq Composite comp, last week
-1.26%
A 3.2% drop, its worst decline since the period ending March 20, and the first decline after five consecutive gains.
Softbank Group 9984,
-7.15%
The Japanese investment group called for $ 4 billion worth of options to be bought by The Wall Street Journal, followed by $ 4 billion of options, which were linked to individual tech stocks worth about $ 50 billion.
Hussain Saeed, chief market strategist at FXTM, said, “There was no specific trigger for the saleoff, but after the extreme boom driven by monetary and fiscal policies, stock prices reached levels that may no longer be justified by fundamentals “. “Liquidity and low interest rates alone cannot solve everything, so it is necessary to end the epidemic for continued improvement in economic data and permanent vicissitudes in risky assets.”
Germany reported a 1.2% increase in industrial production for July, which was slower than the forecast growth.
Pounds GBPUSD,
-0.66%
Weak Britain was working on legislation to eliminate parts of the Brexit withdrawal agreement after the Financial Times reported. The Sunday Express has separately considered a dossier that is being considered by Downing Street that will try to limit access to EU companies seeking to raise money in London. Negotiations on the UK-European Union trade deal are scheduled to resume on Tuesday after Brexit.
“It seems strange to say the least, that the UK may be with upcoming legislation to reduce its commitments to Ireland as Britain has in recent months been preparing the Northern Ireland border for exit day In recent months. It suggests that the UK is trying to increase pressure to deal more than its choice rather than going for a tough exit, ”said Bernberg senior economist Kallam Pickering.
Associated British Foods ABF,
+ 2.66%
It grew by 3%, saying that the business ended on September 12 in the fourth quarter.

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