European stock markets open lower |

(ABM FN-Dow Jones) The European stock markets are heading for a lower opening on Thursday.

IG anticipates an opening loss of 79 points for the German DAX, a minus of 29 points for the French CAC 40 and a drop of 33 points for the British FTSE 100.

The European stock markets stayed close to home on Wednesday.

The European stock markets fluctuated between slight gains and losses on Wednesday. The corona crisis continues to cause uncertainty. For example, the number of infections is rising in many regions, while a number of pharmaceutical companies indicated that they were forced to temporarily stop their studies on a corona vaccine.

According to market analyst David Madden of CMC Markets, there was little to be happy about on Wednesday. “Politicians in the US don’t seem close to closing a deal on one [nieuw] support package. A number of potential vaccines against the coronavirus are facing setbacks and to top it all off, there is still uncertainty about the future relationship between the UK and the EU, “he said. deal.

In addition, the market processes the first series of quarterly figures.

A series of new restriction measures due to the corona virus in the United Kingdom and the Netherlands, among others, also weighed on sentiment. France is also expected to announce more measures on Wednesday amid rising deaths and hospitalizations in the country.

On a macroeconomic level, it was announced in Europe on Wednesday that the industry in the eurozone produced 0.7 percent more in August than in July. Economists also expected a production increase of 0.7 percent for August. In July, production on a monthly basis was still 5.0 percent higher, an upward revision.

Due to the corona crisis, the German economy will decline even more in size this year than previously estimated. The German research institute Ifo reported this on Wednesday. For this year, the Ifo now expects the German economy to contract by 5.4 percent against an expected contraction of 4.2 percent in an earlier estimate.

Company news

International Consolidated Airlines closed 0.7 percent higher after a volatile trading day, Deutsche Lufthansa gained 0.1 percent, Air France-KLM posted 0.8 percent higher and Ryanair rose 0.2 percent. With that, the airmen recovered from previous losses due to the flaring up corona virus.

ASML more than met expectations in the third quarter. The stock closed 1.0 percent lower. For the fourth quarter, ASML expects a turnover of 3.6 to 3.8 billion euros with a gross margin of approximately 50 percent. With this, ASML also repeated the outlook for the whole of 2020 of a turnover of at least 13.3 billion euros. According to analysts, a somewhat cautious outlook for 2021 put pressure on the stock.

TomTom fell 2.8 percent. The navigation system manufacturer reported a larger than expected net loss and warned of a sharp drop in annual sales.

Nokia and Google Cloud have announced a five-year strategic partnership, where Nokia will migrate its on-premise IT infrastructure to Google Cloud. The share rose 0.8 percent.

Just Eat Takeaway rose 6.5 percent. Delivery service order growth grew 46.1 percent in the third quarter and the investment program appears to be paying off, investment bank Jefferies said.

Euro STOXX 50 3,273.28 (-0.2%)
STOXX Europe 600       370,62 (-0,1%)
DAX                    13.028,06 (+0,1%)
CAC 40 4,941.66 (-0.1%)
FTSE 100 5,935.06 (-0.6%)
SMI 10,292.66 (-0.4%)
AEX                    571,98 (-0,1%)
BEL 20 3,316.16 (-0.1%)
FTSE MIB               19.607,73 (+0,3%)
IBEX 35                6.916,60 (+0,6%)


Wall Street opens minus Thursday, according to American futures.

The American stock markets were also closed lower on Wednesday.

The American stock exchanges processed a series of quarterly figures on Wednesday. Bank of America, Goldman Sachs and Well Fargo, among others, released figures on Wednesday. Signs of a worldwide worsening coronavirus pandemic also weighed on sentiment.

The global number of confirmed coronavirus cases rose to 38.2 million on Wednesday. The virus also seems to have started a new advance in the United States. The New York Times reported, based on data from Johns Hopkins University, that more new cases were reported in 16 US states in the past seven days to Monday than in any other state since the outbreak of the pandemic.

CMC Markets’ market analyst David Madden spoke of a subdued trading day due to the lack of political progress on the proposed corona relief package and the setback surrounding the potential Covid-19 drugs.

On a macroeconomic front, it was announced in the US on Wednesday that producer prices rose by 0.4 percent on a monthly basis in September, as well as on an annual basis.

The number of mortgage applications in the United States fell by 0.7 percent last week. The market index fell from 804.7 to 798.9.

The November crude oil barrel futures closed on Wednesday on the New York Mercantile Exchange by 2.1 percent, or $ 0.84, higher at $ 41.04.

Four macro publications are on the agenda in the United States on Thursday. Weekly support requests, the New York Empire State index, the Philadelphia Fed index and import prices in September will appear in advance.

Company news

Goldman Sachs nearly doubled its earnings in the third quarter, recovering strongly from the previous two quarters, despite unparalleled top second quarter sales. The stock closed almost flat.

Bank of America posted a lower profit in the quarter, but still slightly outperformed expectations. The share lost approximately 4.5 percent.

Wells Fargo reported a halving of its profit in the third quarter on Wednesday before trading, which was below expectations. The share lost more than 5.5 percent.

On Tuesday evening, Apple unveiled four models of the new iPhone 12, which enables connection to a much faster 5G network. Investors are betting that millions of users will purchase a new smartphone for this. The share rose more than 0.5 percent.

UnitedHealth raised its earnings forecast after a strong sales increase of 8 percent in the third quarter. Earnings fell, but less sharply than analysts expected. The share lost approximately 2.8 percent.

EMA has allowed Moderna to submit an application for a marketing authorization for its corona vaccine mRNA-1273 in the European Union. The stock fell nearly 2.0 percent.

S&P 500 index              3.488,67 (-0,7%)
Dow Jones index            28.514,00 (-0,6%)
Nasdaq Composite           11.768,73 (-0,8%)


The Asian stock markets were mainly lower on Thursday.

Nikkei 225                     23.500,04 (-0,5%)
Shanghai Composite      3.344,25 (+0,1%)
Hang Seng 24,350.44 (-1.3%)


The euro / dollar was trading at 1.1751. When the American stock markets closed on Wednesday, the currency pair was still moving at 1.1754 and when the European stock markets closed, the boards still stood at 1.1760.

USD/JPY Yen   105,28
EUR/USD Euro  1,1751
EUR/JPY Yen   123,70

07:00 Roche – Figures third quarter (Zwi)
13:00 Honeywell – Third quarter figures (US)
13:00 Morgan Stanley – Third Quarter Figures (US)

03:30 Consumer and producer prices – September (Chi)
06:30 Unemployment – September (NL)
8:45 AM Inflation – September def. (Fra)
11:00 Trade balance – August (Call)
14:30 Support Applications – Weekly (US)
14:30 NY Empire State index – Oktober (VS)
14:30 Philadelphia Fed index – Oktober (VS)
14:30 Import prices – September (US)
5:00 PM Oil Stocks – Weekly (US)
00:00 Deadline for Brexit negotiations (UK)

ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.

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