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Stock Markets – Closing Note - 16 Nov
Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
The issue of Brexit and the ensuing political instability that has arisen in recent days have once again influenced investor sentiment. Investors will continue to structure their expectations according to the evolution of events. Yesterday is a convincing proof of the speed of events. The session started under good auspices after Theresa May managed to bring together within her cabinet and her party a consensus that would increase the likelihood of the agreement reached with the European Union being approved in Parliament. Subsequently, the massive dismissal of six executive ministers forced investors to recalculate these probabilities. In this context, the London Stock Exchange finished in low, although with a contained devaluation. This behavior was justified by the positive performance of the mining companies, which also favored the sector of raw material producers and made it the best performer in sectorial terms. Oil prices rose on international markets, fueled by expectations of OPEC production cuts, although production of this raw material at record US levels has limited the upward trajectory. In macroeconomic terms, Eurostat today reported that consumer prices in the Eurozone increased 2.20% in October this year. This is the highest growth in consumer prices since December 2012.
The US market traded lower, with the technology sector ranking the 2nd worst performer in the S&P 500 index. Nvidia shares fell more than 17 percent after showing disappointing revenue and prospects. In the macroeconomic level, industrial production in October registered an increase of 0.10%, below the expected 0.20%.
Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
The issue of Brexit and the ensuing political instability that has arisen in recent days have once again influenced investor sentiment. Investors will continue to structure their expectations according to the evolution of events. Yesterday is a convincing proof of the speed of events. The session started under good auspices after Theresa May managed to bring together within her cabinet and her party a consensus that would increase the likelihood of the agreement reached with the European Union being approved in Parliament. Subsequently, the massive dismissal of six executive ministers forced investors to recalculate these probabilities. In this context, the London Stock Exchange finished in low, although with a contained devaluation. This behavior was justified by the positive performance of the mining companies, which also favored the sector of raw material producers and made it the best performer in sectorial terms. Oil prices rose on international markets, fueled by expectations of OPEC production cuts, although production of this raw material at record US levels has limited the upward trajectory. In macroeconomic terms, Eurostat today reported that consumer prices in the Eurozone increased 2.20% in October this year. This is the highest growth in consumer prices since December 2012.
The US market traded lower, with the technology sector ranking the 2nd worst performer in the S&P 500 index. Nvidia shares fell more than 17 percent after showing disappointing revenue and prospects. In the macroeconomic level, industrial production in October registered an increase of 0.10%, below the expected 0.20%.