Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European shares closed at a session in which the Euro appreciated against the Dollar for the highest of the last two months. In favor of the European currency was partly the agreement by the German Social Democrats to start talks with Chancellor Angela Merkel with the aim of forming a coalition. The banking sector was among the worst performers following the announcement by Swiss bank Julius Baer about the departure of CEO Boris Collardi to the competitor Pictet Group. The technology sector also experienced significant losses. Britain’s Micro Focus suffered a heavy loss after Deutsche Bank cut its recommendation to buy to keep. BMW depreciated 0.91%. According to the Handelsblatt newspaper, the German manufacturer will invest 1500 M. € more than planned in the development of new models. Also in Frankfurt, in an interview with Welt Am Sonntag, Allianz CEO stated that the insurer is planning new acquisitions. Allianz shares ended with a loss of 0.53%.
Optimism over strong US holiday sales provided gains in the US market earlier this week. Amazon online retailer appreciated more than 1%, favored by reported numbers of sales on Black Friday. On the macroeconomic front, sales of new homes in the US during the month of October unexpectedly rose to the maximum level of the last 10 years, ie increased 6.20% to 685 000. This was the third consecutive month of an increase in this indicator.