Europe Stocks Jump on Corporate News; Futures Flat: Markets Wrap, , on October 16, 2020 at 7:24 am

Financial News
By
On October 16, 2020
In Financial News
Tags:

(Bloomberg) — Stocks in Europe gained on the back of positive corporate news, while U.S. equity-index futures fluctuated as investors considered the economic impacts of fresh restrictions to curb the coronavirus pandemic and the stalemate over U.S. stimulus.Volvo shares rose after the car maker’s results beat analysts’ estimates. Thyssenkrupp surged more than 20% after a report that Liberty Steel will make a multi-billion-euro bid for its steel unit. Shares slipped in Tokyo and Seoul but climbed in Hong Kong. Treasuries edged up and the dollar was steady, while crude oil retreated.The British pound held Thursday’s drop versus the euro, with Prime Minister Boris Johnson set to decide on Friday whether to abandon trade talks with the European Union after the bloc’s leaders refused to give him the clear signal he wants in order to remain at the table.With fresh U.S. stimulus remaining elusive for now, investors are monitoring clampdowns in Europe’s biggest cities as concern grows that measures to contain the virus’s spread could cause more damage to a fragile global recovery. Data Thursday showed an unexpected surge in U.S. jobless claims to the highest since August — a troubling sign for a labor market whose recovery was already slowing.“We need to take into account the tremendous rally we’ve had over the past five months so some consolidation is certainly warranted,” Jim McDonald, chief investment strategist at Northern Trust, said on Bloomberg TV. “The new risk emerging on the horizon is the increasing cases of Covid that are sweeping across Europe and increasing across the U.S.”Friday brings the expiry of options contracts on U.S. equities, indexes and exchange-traded funds, lifting the chances for intraday volatility.Here are some key events coming up:Virtual annual meetings of the International Monetary Fund and the World Bank Group continue through Oct. 18.St. Louis Fed President James Bullard discusses monetary policy in transitionon a virtual panel during the annual meetings of the IMF.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 8:13 a.m. in London.The Stoxx Europe 600 Index gained 0.7%.The MSCI Asia Pacific Index dropped 0.3%.The MSCI Emerging-Market Index rose 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro was little changed at $1.1708.The British pound was little changed at $1.2911.The yen rose 0.1% to 105.30 per dollar.BondsThe yield on 10-year Treasuries was little changed at 0.73%.Germany’s 10-year yield was flat at -0.61%.The U.K.’s 10-year yield was little changed at 0.18%CommoditiesWest Texas Intermediate crude decreased 1% to $40.56 a barrel.Gold slid 0.1% to $1,905.93 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.,

Europe Stocks Jump on Corporate News; Futures Flat: Markets Wrap(Bloomberg) — Stocks in Europe gained on the back of positive corporate news, while U.S. equity-index futures fluctuated as investors considered the economic impacts of fresh restrictions to curb the coronavirus pandemic and the stalemate over U.S. stimulus.Volvo shares rose after the car maker’s results beat analysts’ estimates. Thyssenkrupp surged more than 20% after a report that Liberty Steel will make a multi-billion-euro bid for its steel unit. Shares slipped in Tokyo and Seoul but climbed in Hong Kong. Treasuries edged up and the dollar was steady, while crude oil retreated.The British pound held Thursday’s drop versus the euro, with Prime Minister Boris Johnson set to decide on Friday whether to abandon trade talks with the European Union after the bloc’s leaders refused to give him the clear signal he wants in order to remain at the table.With fresh U.S. stimulus remaining elusive for now, investors are monitoring clampdowns in Europe’s biggest cities as concern grows that measures to contain the virus’s spread could cause more damage to a fragile global recovery. Data Thursday showed an unexpected surge in U.S. jobless claims to the highest since August — a troubling sign for a labor market whose recovery was already slowing.“We need to take into account the tremendous rally we’ve had over the past five months so some consolidation is certainly warranted,” Jim McDonald, chief investment strategist at Northern Trust, said on Bloomberg TV. “The new risk emerging on the horizon is the increasing cases of Covid that are sweeping across Europe and increasing across the U.S.”Friday brings the expiry of options contracts on U.S. equities, indexes and exchange-traded funds, lifting the chances for intraday volatility.Here are some key events coming up:Virtual annual meetings of the International Monetary Fund and the World Bank Group continue through Oct. 18.St. Louis Fed President James Bullard discusses monetary policy in transitionon a virtual panel during the annual meetings of the IMF.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 8:13 a.m. in London.The Stoxx Europe 600 Index gained 0.7%.The MSCI Asia Pacific Index dropped 0.3%.The MSCI Emerging-Market Index rose 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro was little changed at $1.1708.The British pound was little changed at $1.2911.The yen rose 0.1% to 105.30 per dollar.BondsThe yield on 10-year Treasuries was little changed at 0.73%.Germany’s 10-year yield was flat at -0.61%.The U.K.’s 10-year yield was little changed at 0.18%CommoditiesWest Texas Intermediate crude decreased 1% to $40.56 a barrel.Gold slid 0.1% to $1,905.93 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

,

Instant Quote

Enter the Stock Symbol.

Select the Exchange.

Select the Type of Security.

Please enter your First Name.

Please enter your Last Name.

Please enter your phone number.

Please enter your Email Address.

Please enter or select the Total Number of Shares you own.

Please enter or select the Desired Loan Amount you are seeking.

Please select the Loan Purpose.

Please select if you are an Officer/Director.

High West Capital Partners, LLC may only offer certain information to persons who are “Accredited Investors” and/or “Qualified Clients” as those terms are defined under applicable Federal Securities Laws. In order to be an “Accredited Investor” and/or a “Qualified Client”, you must meet the criteria identified in ONE OR MORE of the following categories/paragraphs numbered 1-20 below.

High West Capital Partners, LLC cannot provide you with any information regarding its Loan Programs or Investment Products unless you meet one or more of the following criteria. Furthermore, Foreign nationals who may be exempt from qualifying as a U.S. Accredited Investor are still required to meet the established criteria, in accordance with High West Capital Partners, LLC’s internal lending policies. High West Capital Partners, LLC will not provide information or lend to any individual and/or entity that does not meet one or more of the following criteria:

1) Individual with Net Worth in excess of $1.0 million. A natural person (not an entity) whose net worth, or joint net worth with his or her spouse, at the time of purchase exceeds $1,000,000 USD. (In calculating net worth, you may include your equity in personal property and real estate, including your principal residence, cash, short-term investments, stock and securities. Your inclusion of equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property.)

2) Individual with $200,000 individual Annual Income. A natural person (not an entity) who had individual income of more than $200,000 in each of the preceding two calendar years, and has a reasonable expectation of reaching the same income level in the current year.

3) Individual with $300,000 Joint Annual Income. A natural person (not an entity) who had joint income with his or her spouse in excess of $300,000 in each of the preceding two calendar years, and has a reasonable expectation of reaching the same income level in the current year.

4) Corporations or Partnerships. A corporation, partnership, or similar entity that has in excess of $5 million of assets and was not formed for the specific purpose of acquiring an interest in the Corporation or Partnership.

5) Revocable Trust. A trust that is revocable by its grantors and each of whose grantors is an Accredited Investor as defined in one or more of the other categories/paragraphs numbered herein.

6) Irrevocable Trust. A trust (other than an ERISA plan) that (a)is not revocable by its grantors, (b) has in excess of $5 million of assets, (c) was not formed for the specific purpose of acquiring an interest, and (d) is directed by a person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of an investment in the Trust.

7) IRA or Similar Benefit Plan. An IRA, Keogh or similar benefit plan that covers only a single natural person who is an Accredited Investor, as defined in one or more of the other categories/paragraphs numbered herein.

8) Participant-Directed Employee Benefit Plan Account. A participant-directed employee benefit plan investing at the direction of, and for the account of, a participant who is an Accredited Investor, as that term is defined in one or more of the other categories/paragraphs numbered herein.

9) Other ERISA Plan. An employee benefit plan within the meaning of Title I of the ERISA Act other than a participant-directed plan with total assets in excess of $5 million or for which investment decisions (including the decision to purchase an interest) are made by a bank, registered investment adviser, savings and loan association, or insurance company.

10) Government Benefit Plan. A plan established and maintained by a state, municipality, or any agency of a state or municipality, for the benefit of its employees, with total assets in excess of $5 million.

11) Non-Profit Entity. An organization described in Section 501(c)(3) of the Internal Revenue Code, as amended, with total assets in excess of $5 million (including endowment, annuity and life income funds), as shown by the organization’s most recent audited financial statements.

12) A bank, as defined in Section 3(a)(2) of the Securities Act (whether acting for its own account or in a fiduciary capacity).

13) A savings and loan association or similar institution, as defined in Section 3(a)(5)(A) of the Securities Act (whether acting for its own account or in a fiduciary capacity).

14) A broker-dealer registered under the Exchange Act.

15) An insurance company, as defined in Section 2(13) of the Securities Act.

16) A “business development company,” as defined in Section 2(a)(48) of the Investment Company Act.

17) A small business investment company licensed under Section 301 (c) or (d) of the Small Business Investment Act of 1958.

18) A “private business development company” as defined in Section 202(a)(22) of the Advisers Act.

19) Executive Officer or Director. A natural person who is an executive officer, director or general partner of the Partnership or the General Partner, and is an Accredited Investor as that term is defined in one or more of the categories/paragraphs numbered herein.

20) Entity Owned Entirely By Accredited Investors. A corporation, partnership, private investment company or similar entity each of whose equity owners is a natural person who is an Accredited Investor, as that term is defined in one or more of the categories/paragraphs numbered herein.

Please read the notice above and check the box below to continue.

Singapore

168 Robinson Road,
Capital Tower, Singapore 068912
+65 3105 1295

Taiwan

5th Floor, No. 1-8, Section 5, Zhongxiao East Road, Taipei

Hong Kong

R91, 3rd Floor,
Eton Tower, 8 Hysan Ave.
Causeway Bay, Hong Kong
+852 3002 4462

Australia

44 Martin Place, Sydney 2000 Australia
+02 8319 3232

Indonesia

Millennium Centennial Center, 38th Floor, Jl. Jend. Sudirman Kav. 25
Jakarta 12920, Indonesia

Market Coverage