Market Wrap: Stronger EU data & Weaker Asian Stocks but Sony Sounds Bullish

by | Oct 31, 2017

European indices boosted, Asia stocks cool after sustained rally

European stocks were mixed this morning amidst a flurry of economic data for the Eurozone, with the German DAX closed for the Reformation Day holiday. The FTSE100 and Euro Stoxx 50 looked to outperform the CAC40 in France and FTSE MIB in Italy. 

Q3 GDP figures came thick and fast earlier. Overall the Eurozone grew by 0.6% in the third quarter. It might not sound like much but it represents an improvement over Q3 2016, indicating the economic recovery has picked up the pace. We also saw a drop in unemployment across the Euro area, to 8.9% last month – the lowest since January 2009. French GDP was also up, but perhaps unsurprisingly the UK was lower than its peers, up just 0.4% for the quarter.

In Spain, markets looked robust once again. Both the BATS Spain 35 and FTSE Spain indices rallied today, despite so many questions being left unanswered over the Catalonia crisis. Catalan leader Carles Puidgemont has allegedly fled to Belgium, but will this stop supporters of independence rising up once more? The prospect of civil unrest does not seem to be putting investors off Spanish stocks!

In European equities the best performing stocks today were BP, Airbus, Just Eat, Croda International, William Hill and Beazley Group. In the US – Pfizer shares are surging premarket today after earnings beat the streets expectations for Q3.

In Asia, the NIFTY slipped to 10,338 with significant losses for Infosys, Vedanta, Tata Motors, Larsen & Toubro and Bosch. Japanese markets slipped too thanks to losses in Pharmaceutical and manufacturing stocks. The Nikkei 225 and TOPIX were both down -0.04% and -0.28% respectively.

Despite a worse performance for the broader indices, Japanese firm Sony has raised its earnings outlook, forecasting profits of $5.57 billion (630 billion Yen) for the year ending March, up from expectations of 500 billion Yen predicted 3 months ago. The share price is rising today off the back of the bullish words.

Want to learn more about the markets and how to become a better investor?

Download the Invstr App now.

ALL RIGHTS RESERVED © INVSTR LTD. 2017

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order. Brokerage services, including fractional trading of US securities, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here. Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.

Download on the App Store           Download on Google Play

ALL RIGHTS RESERVED © INVSTR LTD. 2017

Risk Disclosure:
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here
Cryptocurrency trading is provided by Coinbase. To be eligible to use the Coinbase Services you must be at least 18 years old. Your eligibility to access certain Coinbase Services also depends on the country in which you reside. For more information on eligibility of use and disclaimers go to Coinbase, or click here

 

Share This