Overseas Trading: European Stocks Stage a Relief Rally

Stocks in Europe arehigher following two days of heavy losses

Jun 28, 2016 at 8:59 AM
facebook X logo linkedin

Asian stocks finished mixed today, following yesterday's post-"Brexit" bounceback. China's Shanghai Composite outpaced its regional peers -- adding 0.6% -- while Hong Kong's Hang Seng sank 0.3%. In Japan, the Nikkei rose once again, this time adding 0.1%, as a strengthening yen stoked stimulus hopes. Over in South Korea, however, the Kospi dropped 0.5%. 

Stocks are staging a relief rally in Europe, even though Standard & Poor's downgraded the U.K.'s credit rating to AA from AAA. Elsewhere, ahead of the first summit among European Union (EU) leaders in the wake of the "Brexit" referendum, German Chancellor Angela Merkel took a hard line with exiting U.K. Prime Minister David Cameron, saying, "My only advice to our British friends is: Don’t delude yourself about the necessary decisions that need to be taken."

Among the top gainers were banking stocks, a stark reversal from the sharp losses seen in previous sessions. London's FTSE 100 and Germany's DAX have each added 2.8%. The French CAC 40 is closed.

Overseas Trading 2 June 28

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.