Ger30, UK100 and SP500 are CFD’s, written over the Dax30, Footsie100 and S&P500 Index futures:
European markets closed lower, with most sectors also in negative territory. Among the worst performers were the financial services and telecommunications companies. BT dropped by more than 2%, still reflecting the announcement last week that it will cut 13,000 jobs in the next 3 years. However, the price of oil maintained the upward behavior that characterized it last week, so stocks of major oil majors closed today’s session higher. It is also noteworthy for pharmacists who recovered from the losses recorded last week following the news that President Trump could lower the price of prescription drugs. In the banking sector, ABN fell 6%, after the Dutch institution reported a decline in its quarterly results.
Wall Street traded higher, with investors expecting a tightening of tension between the US and China. Of note is the performance of chip makers after news that Chinese regulators will begin a review of Qualcomm’s proposed acquisition of NXP. Both companies posted gains.