Global Stock Rally Pauses in Europe
24 Julio 2019 - 5:34AM
Noticias Dow Jones
By Caitlin Ostroff
-- Treasury yields edge down
-- Sterling holds steady against the dollar
-- Caterpillar and Boeing to report earnings
European stocks faltered and German government bond yields
touched a record low after new data signaled weakness in the
regional economy.
The Stoxx Europe 600 was down 0.3% in morning trade. In Asia,
the Shanghai Composite was up 0.8% and Japan's Nikkei gained
0.4%.
Luxury sports-car manufacturer Aston Martin's shares plunged 23%
after the company slashed profitability targets and downgraded
production goals for the year. Chief Executive Andy Palmer said
wholesale performance was impacted by "macroeconomic uncertainty
and enduring weakness in U.K. and European markets."
Deutsche Bank fell 3.8% on Wednesday after it reported a loss of
$3.51 billion due to restructuring costs.
Shares of U.K. chemicals company Croda International dropped
3.4% after it reported its earnings fell in the first half and said
its personal care business had been impacted by the U.S.-China
trade dispute.
The German 10-year bund yield slid to a new all-time low of
minus 0.429%, according to Tradeweb, as investors grew nervous
about the economic outlook for the eurozone. Bond yields and prices
move in opposite directions.
Eurozone purchasing managers index data released Wednesday
offered further signs of an economic slowdown in the region. The
poor performance in the eurozone's two largest economies, France
and Germany, added to expectations for a fresh stimulus drive from
the European Central Bank on Thursday, said Claus Vistesen, chief
European economist for Pantheon Macroeconomics.
The 10-year U.S. Treasury yield also slipped on Wednesday, to
2.056%, from 2.074% on Tuesday.
On the earnings front, investors were waiting for many major
U.S. corporate reports from Facebook Inc., AT&T Inc. and Tesla
Inc. later Wednesday. Boeing Co., Ford Motor Co. and Thermo Fischer
Scientific Inc., a biotech firm, are also set to release their
results.
In the U.S., shares in big tech companies fell in after-hours
trade Tuesday after the Justice Department announced it was opening
a broad antitrust review into whether dominant firms have
unlawfully stifled competition. Facebook Inc. fell 1.5%,
Google-parent Alphabet Inc. fell 0.9%, Amazon.com Inc. fell 1% and
Apple Inc. fell 0.4%.
The British pound ticked up Wednesday, a day after Boris Johnson
emerged as the victor to become the next U.K. prime minister.
Though the market had expected Mr. Johnson's win, investors may
react to his cabinet appointments, said John Wraith, head of U.K.
rates strategy for UBS.
Anna Isaac and Lauren Almeida contributed to this article.
(END) Dow Jones Newswires
July 24, 2019 06:19 ET (10:19 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Croda (LSE:CRDA)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Croda (LSE:CRDA)
Gráfica de Acción Histórica
De May 2023 a May 2024