Overseas Trading: Media, Bank Stocks Boost Europe

Most European markets are higher, as a surge in media and financial shares offsets a decline in energy and mining stocks

Aug 24, 2016 at 8:40 AM
facebook twitter linkedin

It was a mostly lower finish in Asia today, as oil prices resumed their slide and anticipation mounts that U.S. Federal Reserve Chair Janet Yellen could hint at a possible interest-rate hike in Friday's speech at Jackson Hole, Wyoming, following yesterday's strong housing data. In Hong Kong, the Hang Seng settled down 0.8% amid a drop in property stocks. South Korea's Kospi, meanwhile, shed 0.3%, while China's Shanghai Composite gave back 0.1%.

Elsewhere, Tokyo stocks managed to buck the regional bearish bias, as a cooling yen helped boost exporters -- including roughly 2% gains for automakers Toyota and Nissan. By the close, Japan's Nikkei was up 0.6%.

European benchmarks are mostly higher at midday, as a rally in media and financial shares offsets losses in energy and mining stocks, as well as a deadly earthquake in Italy. At last check, the French CAC 40 is up 0.6% and the German DAX is flirting with a 0.5% lead. London's FTSE 100, meanwhile, is down 0.07%.

Overseas Trading August 24

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. 


Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners