Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Markets

News : Markets
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

EUROPE MARKETS: Europe Markets Tick Up Despite Iran Tension

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/21/2019 | 06:13am EDT

By Dave Morris

European markets were slightly positive as geopolitical tensions could not dent the week's central bank-driven rally.

How did markets perform?

The Stoxx 600 was flat at 386.2, after climbing 1.7% Thursday.

The U.K.'s FTSE 100 was also flat, trading at 7,426.5. It increased 1.2% Thursday.

The pound fell 0.4% to $1.2656, after ticking down 0.1% Thursday.

In Germany, the DAX was 0.3% higher at 12,388.6. On Thursday it moved up 2%.

France's CAC 40 was up 0.5% to 5,562.9, adding to Thursday's gain of 2.2%.

Italy's FTSE MIB was also up 0.5% at 21,465.4. It jumped 2.5% Thursday.

The continuing tensions in the Middle East continued to lift crude oil benchmarks. The West Texas Intermediate (WTI) front month contract traded at $57.22/bbl., up 0.3%, and the Brent front month contract was at $64.82/bbl., up 0.6%.

What's moving the markets?

The New York Times reported that U.S. President Donald Trump ordered airstrikes on Iran in response to the downing of an unmanned U.S. drone, but withdrew the order before it could be executed. The two sides had disagreed over whether the drone was in international or Iranian airspace when it was shot down. Reuters reported that (https://www.reuters.com/article/us-mideast-iran-usa-attacks/trump-warned-iran-via-oman-that-u-s-attack-imminent-called-for-talks-iranian-officials-idUSKCN1TM0AY?il=0), according to Iranian sources, Trump warned Tehran via Oman that an attack was imminent and called for talks.

Investors continued to reposition themselves following guidance from central banks earlier in the week indicating that stimulus measures were under consideration. Gold brushed against the $1,400-an-ounce price before retreating , though it is up 3.2% on the week. Meanwhile, analysts suggested that investor sentiment on the global economy is too pessimistic.

Deutsche Bank group chief economist David Folkerts-Landau wrote that his team expected both the U.S. Federal Reserve and the European Central Bank to loosen financial conditions: "Against this backdrop of slower, but still positive, growth and coordinated central bank policy easing, investors will be forced to add risk."

The race to be the next U.K. Prime Minister narrowed to two as the Conservative Party leadership contest came down to former Foreign Secretary Boris Johnson and current Foreign Secretary Jeremy Hunt. Environment Secretary Michael Gove was eliminated in a fresh ballot among the party's MPs, losing to Hunt by two votes. The final result will be determined by a postal vote of the Conservative membership, with the result expected the week of July 22.

Which stocks are active?

Large oil companies across Europe gained on the rise in the oil price. Total was 1.8% higher, as was BP PLC. Eni rose 0.6%. Royal Dutch Shell climbed 1.2%.

Cruise operator Carnival sank 2.3% as it slashed earnings guidance for the full year on Thursday. The company cited factors including the Cuba travel ban by the U.S. and softness in bookings by European customers. It also announced that it had canceled sailings on its Carnival Vista ship due to technical issues.

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -2.87% 528 Delayed Quote.6.46%
CAC 40 -0.76% 5571.71 Real-time Quote.17.92%
CARNIVAL CORP -1.74% 45.64 Delayed Quote.-5.78%
DAX -0.72% 12341.03 Delayed Quote.16.88%
ENI -1.72% 14.414 End-of-day quote.6.68%
EURO STOXX 50 -0.56% 3501.58 Delayed Quote.16.69%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
ROYAL DUTCH SHELL -1.33% 28.28 Delayed Quote.10.23%
STOXX EUROPE 600 -0.37% 387.66 Delayed Quote.14.84%
STOXX ITALY 45 (EUR) -0.01% 99.22 Delayed Quote.20.29%
TOTAL -2.75% 48.59 Real-time Quote.5.22%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Markets"
11:08pCrude futures steady after fall on U.S. oil products stocks gain
RE
11:01pASIA MARKETS: Asian Markets Fall On Economic Red Flags As Trade-war Standoff Persists
DJ
09:32pWALL STREET STOCK EXCHANGE : Developing Asia set to meet growth outlook despite trade war - ADB
RE
09:27pAsian stocks wobble, bond yields fall on earnings woes, trade worries
RE
05:26pMARKET SNAPSHOT: Stocks Notch Back-to-back Losses And Dow Transports Shed 3.6%
DJ
05:15pWALL STREET STOCK EXCHANGE : Stocks Lower as Earnings Season Starts With Qualms Over Growth
DJ
05:01pMedical Distributors Stocks Fall After Opioid Data Reports
DJ
04:18pTSX falls 0.11 percent to 16,484.21
RE
04:15pTrade, earnings worry drag on stocks; U.S. Treasury yields fall
RE
04:12pTrade, earnings worry drag on stocks; U.S. Treasury yields fall
RE
Latest news "Markets"
Advertisement