Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European markets closed with devaluations of less than 1%, at a time when business results remain on the agenda. The technology sector was influenced by the selling pressure seen by US companies after the news about iPhones 8 orders. SAP remained broadly unchanged. The German technology company reported lower-than-expected earnings and quarterly revenues, but still improved its forecast for total revenues in 2017. Tele2 was the top-earning operator in the telecoms business, fueled by news that the operator raised its outlook for profit for the third quarter. On the other hand, Carrefour and Pernod Ricard also registered significant increases after the two companies recently presented their results. However, Unilever penalized the respective sector (household goods and personal care), after having reported a growth for the quarterly sales of 2.60% compared to the anticipated 4%. This differential was due to climatic factors such as hurricanes in the USA and the heavy rains that hit Central Europe. Nestlé lost 0.89%, despite announcing a quarterly increase of 2.60% in sales, slightly higher than the estimated 2.50%. On negative ground was also the advertising company, Publicis, in reaction to the results below expectations.
Wall Street rebounded from highs hit yesterday by the top three stock indexes. Apple shares were one of the key factors in the technology sector, after a Taiwan newspaper reported that iPhones 8 orders were expected to be lower than expected. Although the paper did not cite its source, it is important to note that many Apple vendors are headquartered in Taiwan. In turn, eBay also lost ground despite the company’s net profit of $ 0.48 per share, in line with forecasts. Revenues rose to 2,400 M.USD from the expected 2370 M.USD, but the company presented little encouraging prospects for the fourth quarter. In macroeconomic terms, advanced economic indicators declined in September for the first time in a year. This indicator fell 0.20%, compared to expectations of a 0.20% increase. With regard to the labor market, the number of weekly applications for unemployment benefits fell to the lowest since March 1973, 222 000, compared with an estimated 240 000.