Europe stocks turn south as ECB declines to boost stimulus efforts
European stocks slipped on Thursday as the European Central Bank didn't bring forward stimulus even after Germany and France announced lockdown plans.
Down 3% on Wednesday, the Stoxx Europe 600 SXXP, -0.37% drifted 0.2% lower.The German DAX DAX, -0.14%, French CAC 40 PX1, -0.60% and U.K. FTSE 100 UKX, -0.16% each turned mildly lower.U.S. stock futures YM00, -0.05% NQ00, +0.62% climbed ahead of huge slate of earnings — including technology giants Alphabet GOOG, +1.54%, Amazon AMZN, +0.85%, Apple AAPL, +1.93%, and Facebook FB, +3.24% after the closing bell. U.S. gross domestic product as expected saw a 33% annualized jump in the third quarter.
France and Germany on Wednesday separately announced new one-month lockdowns to fight the second wave of the COVID-19 pandemic. Economists at Berenberg say the French economy could contract as much as 4% in the fourth quarter, and the German economy could shrink by 1%.
The ECB as expected left interest rates unchanged and didn’t increase its asset-purchase program. That’s what analysts expected, though some had hoped the ECB would be moved into acting earlier.“The new round of Eurosystem staff macroeconomic projections in December will allow a thorough reassessment of the economic outlook and the balance of risks. On the basis of this updated assessment, the Governing Council will recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favourable to support the economic recovery and counteract the negative impact of the pandemic on the projected inflation path,” said the ECB.
Royal Dutch Shell RDSA, +1.05% RDS.A, +2.35% rose 2%, as the oil giant’s adjusted earnings of $955 million came in well ahead of the $146 million expectation.Nokia NOKIA, -16.10% NOK, -16.17% slumped 17%, as the telecom equipment maker cut its profit forecast for 2020 and introduced cautious guidance for 2021.
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European markets set to open flat with new lockdowns, ECB in focusEuropean markets are set to open mixed on Thursday as investors digest new lockdown measures in France and Germany and await the ECB's monetary policy decision. this is terrible news
ECB is set to hold fire and signal more easing in December amid lockdown fearsEconomic data is deteriorating once again, with the Flash PMI for the Eurozone hitting a four-month low. good luck
ECB to pave way for more stimulus as recession fears growThe European Central Bank is expected to resist pressure to unveil fresh stimulus measures on Thursday but it will likely pave the way for action in December as fresh restrictions aimed at containing the coronavirus pandemic fuel fears over a new recession.
ECB keeps rates unchanged for now despite new coronavirus lockdownsThe European Central Bank decided to keep its rates and wider monetary policy unchanged on Thursday, as countries across the region impose fresh lockdowns.
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European markets set for lower open on coronavirus, U.S. election and stimulus fearsEuropean markets are set to fall further at Wednesday's open as the rapid spread of the coronavirus continues across the continent, while U.S. election uncertainty compounds risk-off sentiment. thanks there's NO need to worry, Mr.Trump would surely gets re-elected 💯. WallStreet Election2020 MAGA2020LandslideVictory 🇺🇸 can you please crashhhh the market?