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IGG - IG Group News Story

777p 4.0  0.5%

Last Trade - 23/10/20

Sector
Financials
Size
Large Cap
Market Cap £2.88bn
Enterprise Value £2.38bn
Revenue £663.7m
Position in Universe 225th / 1805

LIVE MARKETS-Europe at the open: all down but within ranges

Thu 17th September, 2020 8:20am
* European shares open lower: STOXX down 1% * Fed fails cheer investors * BoE in focus, no change expected * Unibail-Rodamco drops on capital strenghtening move Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Danilo Masoni (danilo.masoni@thomsonreuters.com) and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. EUROPE AT THE OPEN: ALL DOWN BUT WITHIN RANGES (0717 GMT) Europe is literally painted red this morning with the STOXX 600 .STOXX and all sub-sectors posting losses in early deals after the Fed failed to provide fresh reasons to cheer. Autos, banks and miners are sliding over 2% while tech is down 1.6%. Despite the undistinguished sell-off, main indexes aren't breaking any new ground, the STOXX is just giving up two days of gains and it remains anchored within its recent trading range. Top faller is shopping centres landlord Unibail-Rodamco URW.AS down 8% after it announced a 9.0 billion euro plan to strenghten its fiances. IG Group and Next are among the few stocks on the up after well-received trading updates. Here's your snapshot: (Danilo Masoni) ***** ON OUR RADAR: CENTRAL BANKS, BALANCE SHEETS AND TECH TROUBLES (0637GMT) Futures in Europe are pointing to falls of more than 1% as investors digest a number of central bank meetings, starting from the Fed which failed to offer any new reason to cheer, and fresh heavy falls in U.S. tech stocks. Earlier this morning the BoJ kept monetary policy steady and slightly upgraded its view on the economy, while later on the BoE is expected to signal that it is getting ready to pump yet more stimulus into Britain's economy. Euro STOXX 50 futures were last down 1.3% and FTSE 100 futures fell 1% following a tech-led sell off on Wall Street overnight. Nasdaq futures were down nearly 2%. On the corporate front a few companies are taking steps to strengthen their balance sheets. Shopping centres landlord Unibail-Rodamco URW.AS announced 9.0 billion euros plan to strengthen its finances that includes a 3.5 billion capital increase along with curbs to cash dividends and non-essential capex. In the UK, Rolls-Royce RR.L said it continued to review funding options, including debt and equity, to boost its balance sheet urn:newsml:reuters.com:*:nL4N2GD3GN, while the world's largest holiday company TUI TUIGn.DE is planning a share sale to raise up to 1 billion euros, according to people close to the matter. urn:newsml:reuters.com:*:nL8N2GD4MQ In more upbeat news, Delivery Hero DHER.DE shares could rise after news it will buy the Latin American operations of Glovo for up to 230 million euros. urn:newsml:reuters.com:*:nL8N2GD5MU Next NXT.L raised its profit outlook for the second time in two months as the British clothing retailer reported strong recent trading. urn:newsml:reuters.com:*:nFWN2GD0Q4 Eyes also on Spanish banks with Caixabank CABK.MC and Bankia BKIA.MC set to approve a deal today that will create Spain's biggest domestic lender. urn:newsml:reuters.com:*:nL8N2GD1L3 Meanwhile on the COVID-19 front, there are no signs of the global pandemic slowing urn:newsml:reuters.com:*:nL4N2GD12X but more positively an Oxford University document said the adverse events that led to a pause in trials evaluating AstraZeneca AZN.L vaccine candidate may not have been associated with the vaccine itself. urn:newsml:reuters.com:*:nL4N2GD3CT (Danilo Masoni) ***** MORNING CALL: EUROPE SEEN LOWER POST-FED (0529 GMT) European shares are expected to open lower this morning with futures on the Euro STOXX 500 falling almost 1% following losses on a tech-led sell-off at Wall Street overnight and after the Federal Reserve took no new policy action. The U.S. central bank kept interest rates pinned near zero and promised to keep them there until inflation is on track to "moderately exceed" its 2% inflation target "for some time." urn:newsml:reuters.com:*:nL1N2GD0O5 Over in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 1.1%, running out of steam after five straight days of gains. Japan's Nikkei .N225 shed 0.6%. (Danilo Masoni) ***** <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ open https://tmsnrt.rs/3hISh57 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
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