European Equity Market Handover – 26th April 2019

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Stock market snapshot as of [26/4/2019 2:42 PM]


  • European shares have managed to crawl into positive territory on Friday, despite continued patchiness in earnings from high profile giants
  • Indices had crept off lows all session, but surprisingly resilient U.S. growth data—though with many provisos—provided the fillip that flipped sentiment definitively
  • Wall Street is also trading off pre-market lows in reaction to the same stimulus
  • The divide between the ‘growth’ and ‘value’s side of the street continue though, after another raft of robust technology sector earnings overnight, led by Amazon, contrasts with weak results from oil majors Exxon and Chevron and chipmaker Intel

Corporate News

  • Unedifying earnings from Deutsche Bank contrasted almost perfectly with much better than expected results from the UK’s RBS, though both shares fell sharply, anchoring both the banking sector and European markets as a whole
  • RBS’s couched warning about “the impact of Brexit uncertainty on the economy” on “income growth” pushed the shares to a drop that approached 5%
  • Deutsche Bank fell 4%. A quarterly profit did little to assuage investor perceptions that after abandoning talks with Commerzbank this week, DB might be out of ideas on how to grow. The group also cut full-year revenue guidance after sales fell for the ninth-straight quarter
  • Contributing to Dow Jones weakness, Exxon reported the worst loss in its refining unit in 17 year, sending the shares sharply lower early in the session. Chevron’s quarterly earnings were only slightly better 

Upcoming corporate highlights

 

Date

Time

Company

Event Name

26-Apr-2019

AMC

Juniper Networks Inc

Q1 2019 Juniper Networks Inc Earnings Release

29-Apr-2019

AMC

SBA Communications Corp

Q1 2019 SBA Communications Corp Earnings Release

29-Apr-2019

AMC

Vornado Realty Trust

Q1 2019 Vornado Realty Trust Earnings Release

29-Apr-2019

AMC

Alexandria Real Estate Equities Inc

Q1 2019 Alexandria Real Estate Equities Inc Earnings Release

29-Apr-2019

AMC

Western Digital Corp

Q3 2019 Western Digital Corp Earnings Release

29-Apr-2019

AMC

Affiliated Managers Group Inc

Q1 2019 Affiliated Managers Group Inc Earnings Release

29-Apr-2019

AMC

MGM Resorts International

Q1 2019 MGM Resorts International Earnings Release

29-Apr-2019

AMC

Leggett & Platt Inc

Q1 2019 Leggett & Platt Inc Earnings Release

29-Apr-2019

AMC

Alphabet Inc

Q1 2019 Alphabet Inc Earnings Release

 

AMC: after market close

Upcoming economic highlights




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