Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European markets were trading higher, with most sectors confirming this trend. Oil companies have been among the best performers in the hope that OPEC members will be able to extend the cut-off on crude oil production. In London, major bank bonds benefited from the publication of Bank of England stress test results. For the first time since 2014, none of the banks surveyed have presented a need for an extraordinary capital increase. In Paris, Société Générale rose 0.30% on Investor Day in which it presented its plan to reduce costs. The bank acknowledged that it will have a non-recurrent tax-related cost of € 579 M. and should continue with a greater technological effort, which will coincide with the dismissal of 900 workers. The French bank aims to gradually increase the dividend. The producers of raw materials presented a relative underperformance, hampered by the sharp fall in metal prices. The French supermarket Groupe Casino has advanced more than 2% after agreeing with British-based Ocado to use the online e-commerce retail platform to develop its online business.
The US stock market was trading higher, highlighting Amazon shares that benefited from positive data on online sales yesterday (Cyber Monday) as well as Goldman Sachs’ upward revision of its target price . In terms of economic indicators, the S & P / Schiller index, which calculates real estate prices in the 20 largest US metropolitan areas, increased by 6.20% in September, compared to the expected 6.10%. Investors were also monitoring the presence of Fed presidential candidate Jerome Powell on the Senate banking commission.