Mid-market update – European Equities Slip on Mixed Earnings Reports, Stimulus Focus … US Future declines from intra-day high
· European stocks edged lower as earnings reports gave a mixed picture of corporate health, while investors awaited progress on U.S. stimulus talks. FTSE, CAC and DAX Index declined 1% each.
· Asian stock markets were mixed trade as investors continue to watch for developments on U.S. coronavirus stimulus talks. Both Nikkei and Hong Kong Index gained 0.3% and 0.7% respectively while China Index declined.
· Oil dropped 1% to below $43/bbl barrel after an industry report pointed to a surprise increase in American crude stockpiles, countering optimism over a potential U.S. stimulus agreement.
· US Future down 0.2% while intra-gained over half percent. Media report that the US voting today for $500bn small stimulates package