Editor: Peter Nurse
investing. com – European equity markets were mixed on Tuesday. After the Bank of England (BoE) lifted the dividend restriction, the banking branch, FTSE 100 helped the index outperform.
(mtag101708) and CAC 40 fell 0.2% while the FTSE 100 rose 0.3%.
Much of the attention comes from the U.S. inflation report from Goldman Sachs (NYSE: GS) and JPMorgan (NYSE: JPM), while the profit reports of big banks, the markets are cautious. The reports are used to evaluate the health of the economy.
Europe’s banking branch is also in the center of attention. Moody’s (NYSE: MCO) in the wake of problems with Investor Service, Greensill Capital, and collapsing hedge fund Archegos, in the wake of Credit Suisse’s (SIX: CSGN) downgraded the principal debt rating from Aa3 to A1. Credit Suisse share fell 0.1%.
In the UK, the central bank lifted the dividend restrictions it had imposed during the epidemic period, saying that the tension test showed that the sector had good capital to deal with the effects of the pandemic.
(mtag101708) (LON: BARC), HSBC (LON: HSBA) and Lloyds Banking Group (LON: LLOY) rose mid 1% to 1.6%.
On the other hand, Nokia (NYSE: NOK)’s share rose 6.8% after it said it plans to upgrade its full-year outlook as its business picks up pace in the second quarter.
China on Tuesday exports experienced stronger-than-expected growth in June. The information pointed to a recovery in global demand with the reopening of world economies with vaccination programs.
Exports in dollar terms increased by 32.2% compared to a year ago, exceeding 27.9% growth in May and growth expectations of around 23%.
Germany’s CPI also rose 0.4% month on month and 2.3% year on year in June. The annual slowdown is due to the rise in power prices last year. USA in June CPI data is also expected to decline.
On the other hand, oil prices rose on Tuesday. This increase is due to the increase in demand in the USA. crude oil
The expectation of a new decrease in stocks was reinforced.
Later in the session American Petroleum Institute (API) crude oil stock report will be published and a decrease is expected for the eighth consecutive week. In the week ending July 2, stocks fell to the lowest level of February 2020.
WTI rose 0.7% to $74.57 Brent traded at $75.66 with an increase of 0.7%.
on the other hand gold futures processes rose 0.3% to $1,810.95 EUR/USD traded at 1.1848, down 0.1%.