Overseas Trading: Earnings Lift European Stocks Ahead of ECB Meeting

Strong earnings reports have European markets in the black

Jul 20, 2016 at 8:41 AM
facebook twitter linkedin


A strengthening U.S. dollar put pressure on stocks in Asia, though Hong Kong's Hang Seng outperformed. Specifically, the index grabbed a 1% win, storming past China's Shanghai Composite, which fell 0.3%. Japan's Nikkei also lost 0.3%, with Nintendo's "Pokemon Go" rally finally losing steam on news the game's Japanese release was delayed. In South Korea, meanwhile, the Kospi edged 0.1% lower. 

On the other hand, stocks in Europe are moving higher, thanks to a strong round of earnings. Tech firm SAP, for example, is rallying on better-than-expected quarterly results, while automaker Volkswagen is roughly 6% higher, after talking up its operating performance for the first half of the year. Mining stocks, in contrast, underperformed once again

Meanwhile, unemployment in the U.K. fell to 4.9% from March to May, the lowest reading in over a decade. Wages also increased for the period. This all comes ahead of the European Central Bank's (ECB) policy-setting meeting on Thursday. Germany's DAX was leading the way at last check, up 1.2%, with France's CAC 40 up 0.8%, and London's FTSE 100 just above breakeven. 


Overseas Trading July 20
 

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. 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1