Thank you for visiting our website.
Until further notice, Tradeo is no longer accepting new clients.
European stock markets are expected to edge higher at the open Thursday, continuing the recovery from the sharp selloff at the start of the week ahead of the latest policy announcement by the European Central Bank.
At 2 AM ET (0600 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.4% and the FTSE 100 futures contract in the U.K. rose 0.2%.
This positive start follows on from gains in Asia as well as on Wall Street overnight, rebounding from Monday’s rout on fears the rising Covid cases caused by the highly-transmissible delta variant, starting in Asia and moving into Europe and the U.S., would derail the global economic recovery.
The main focus of investors Thursday will be on the European Central Bank’s policy-setting decision, due at 7:45 AM ET (1145 GMT), and the subsequent press conference from President Christine Lagarde.
The safe-harbour U.S. dollar and yen were on the back foot on Thursday, after pulling back from multi-month highs amid a recovery in risk appetite as strong earnings lifted Wall Street stocks.
Cryptocurrencies held gains after Tesla (NASDAQ:TSLA) Inc CEO Elon Musk said the company would “most likely” resume accepting bitcoin for payment.
The dollar index, which measures the currency against six major peers, stood at 92.770 after pulling back from a 3 1/2-month high of 93.194 touched on Wednesday.
The yen traded at 129.950 per euro, from an almost four-month top of 128.610 earlier this week, and at 81.07 to Australia’s dollar, from a 5 1/2-month peak of 79.85.
“Strong earnings have swept away Delta concerns in the U.S.,” weighing on haven currencies, National Australia Bank (OTC:NABZY) analyst Tapas Strickland wrote in a note to clients.
Unilever (NYSE:UL) Plc on Thursday reported higher-than-expected underlying sales growth for the second quarter and first half as consumers cooked more meals at home, but it reduced its full-year operating margin forecast due to surging commodity costs.
Underlying sales for the maker of Dove soap and Hellmann’s mayonnaise rose 5% in the three months that ended June 30, beating the 4.8% analysts had expected, according to a company supplied consensus.
Half-year sales came in 5.4% higher, above the 5.3% forecast and ahead of the group’s mid-term target of 3-5% growth.
The company said it now expected full-year underlying operating margins to be flat compared to slightly up earlier.
Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. UR Trade Fix Ltd accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Past performance does not constitute a reliable indicator of future results and future forecasts do not constitute a reliable indicator of future performance.
It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organizational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests when providing our services