Mixed performance by equities
Last Monday European equity markets moved lower by mid-morning, weighed down by high oil prices, volatility in bond markets and security concerns following attempted terrorist attacks in the UK. Wall Street rose sharply as deal activity and an upbeat...
Last Monday European equity markets moved lower by mid-morning, weighed down by high oil prices, volatility in bond markets and security concerns following attempted terrorist attacks in the UK. Wall Street rose sharply as deal activity and an upbeat manufacturing report gave the third quarter a flying start.
A strong performance from the truckmaking sector helped European equity markets drive higher by late-morning on Tuesday, while Getronics jumped sharply after the Dutch computer services company received a potential takeover approach.
European equity markets moved higher in morning trade on Wednesday, helped by strength in the oil services, travel and leisure, and real estate sectors.
European equities fell on Thursday, with banks, utilities and other stocks sensitive to rising interest rates at the forefront of the losses. The Bank of England lifted rates by 25 basis points to 5.75%, as expected.
The European Central Bank left its main interest rate unchanged at 4 per cent but is expected to signal that at least one more quarter percentage point rise is likely this year, possibly in September. US stocks were mixed.
On Friday, carmakers were in focus as European equity markets put in a steady performance, with Peugeot up on solid first half sales and Fiat benefiting from an upgrade.
This article was compiled by Valletta Fund Management Limited, a member of the BOV Group. Valletta Fund Management, The Mall Offices, Level 6, The Mall, Floriana VLT 16. Freephone: 8007-2344. E-mail: infovfm@vfm.com.mt. Website: www.vfm.com.mt. VFM is licensed by the MFSA.