Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
The behavior of European stock exchanges continues to reflect investors’ risk aversion. The day was marked by the start of talks between the US and Canada on a possible revision of the NAFTA agreement. In addition, some of the attention remains diverted to the news about customs tariffs on trade between the US and China. The banking sector was the only one to end up, as opposed to the technology that led the losses in sectoral terms, due to a series of reductions of recommendation. On the other hand, the German pharmaceutical Bayer depreciated, despite having reported a 3.90% increase in the results of the second quarter. In terms of economic indicators, in the Euro Zone, the PMI economic activity index stood at 54.50 in August, slightly above the expected 54.40. The same indicator, but for the services sector, stood at 54.40, as economists estimated. In Germany, the PMI for the services sector reached 55.0, compared to the expected 55.20.
Wall Street opened at a slight low, again pressured by US trade issues with its major partners. It should be remembered that the public consultation in the US on the imposition of new tariffs on imports from China, valued at 200,000 M.USD, will end tomorrow. The US trade deficit has now been known, which increased by about 10% in July to 50,100 M.USD, after the revised 45700 M.USD for the month of June. Estimates pointed to 50,200 M.USD. This was the record increase in imports which reached the highest level of the last five months, due to higher demand for oil and higher prices for this raw material.