European Equity Market Handover Twenty Sixth April

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

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.