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Forecast and levels for S&P 500 - page 36
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Trade tensions between the US and China have remained at the center of attention.
, President Trump sent out a tweet inviting all US trade partners to abandon their protectionist practices under pain of a similar move by the US.
traded slightly lower today, prolonging fears of trade tensions between the US and China. However, raw material producers, one of the most affected sectors recently, have recovered, having led the gains. The automotive sector has presented a contained valuation, after the recent news. Other more specific news also marked the session. British supermarket chain Sainsbury fell by more than 2 percent after industry data showed sales fell in the last three months while other competitors showed higher sales.
Marco vd Heijden
Dear psa how much longer do you think ?
European stock exchanges reversed the initial
, because of news about the US. Most of the sectors followed this behavior, with the exception of the banking that was kept pressed. Leading the gains was the energy sector, fueled by news that the United States will have required all countries to fully halt their imports of Iranian oil by November 4 if they want to avoid US sanctions, reinstated after Washington’s withdrawal from the agreement with Tehran. The price of oil rose more than 2% in international markets. In Italy, Saipem rose more than 5%, in Amsterdam Royal Dutch Shell rose 2.48% and in London BP advanced about 3%.
According to Reuters, US officials have said the US government will use an improved security review process to deal with China’s investment threats to acquire US technology instead of imposing specific restrictions.
In the pre-opening, the European indexes rehearsed in descending trajectory, before the return of worries with the global commerce. The US government said yesterday that the Foreign Investment Committee will evaluate US technology or state-of-the-art technology acquisitions by companies with more than 25% Chinese capital. The oil sector will continue to be monitored by investors, after the recent oil price has seen gains in international markets.
Last Friday, european markets traded higher on a day marked by lower than usual liquidity, a trend that marked the week. Some more specific news has boosted their respective sectors, and sentiment is still conditioned by the current trade tensions between the US and its main partners. The Euro appreciated against the Dollar, in view of the agreement reached by the leaders of the European Union on the issue of migration. Producers of raw materials led the gains. Anglo American said it expects results for the first six months of the year to be at least 20% higher than in the same period last year. The mining company rose more than 4%. In terms of
, Eurostat reported that the inflation rate in the Eurozone increased from 1.90% in May to 2% in June.
On July 6, the new tariffs on Chinese
amounting to 34,000 M.USD are being levied, and Beijing is expected to retaliate.
The agreement reached by Angela Merkel and Interior Minister Horst Seehofer to resolve the political crisis around migration has boosted European markets and especially the German stock market.
On the macroeconomic front in Germany, the PMI index for the services sector rose in June to 54.10, the highest level in the last 4 months. In the Euro Zone, the PMI economic activity index rose from 54.10 in May to 54.9 in June.
Reuters reported that the US ambassador to Germany would have informed those in charge of some of the major automakers such as BMW, Daimler and Volkswagen that Donald Trump could abandon the threats issued last month if the EU eliminated taxes on imported cars from the USA. Remember that the US president threatened last month to impose a 20% import tariff on all vehicles manufactured in the EU.
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