Save from as low as €40 per month Change modify pause
European Markets
Following the selloff in European stocks after Macron’s win on Monday, European markets rallied during Friday’s session as the Euro Stoxx 50, a stock index comprising of the fifty largest public companies in Europe, rose by more than half a percent to now stand at 3,268.55. The German DAX surged by 0.33% to a value of 12,753.41, while the French and British markets gained 0.27% and 0.54% respectively. Friday saw sovereign bond yields fall as the biggest loser was the Italian ten year as it currently yields 2.252%. Other sovereign yields also fell as the German ten year and the French ten year currently stands at 0.392% and 0.842% each. The euro rose in value against both the American dollar and the British Sterling on Friday. The Euro rose by 0.51% against the Dollar and 0.56% against the Pound.
News on the European continent mainly focused on the French presidential election outcome whereby Emmanuel Macron claimed victory over Marine Le Pen. News quickly shifted to the next election in France, which is to be held in June, whereby voters will vote for their parliamentary representatives.
American Markets
The American press focused their attention on President Trump’s firing of the FBI’s head, Director Comey as Trump was not content with the way in which Comey was performing his duties. There is much speculation that Trump fired Director Comey over investigation that are underway on Trump’s Russian relations. Trump was quick to add fuel to the fire as he tweeted out a statement threatening Director Comey on releasing their telephone conversations.
The American markets witnessed the exact opposite of their European counterparts as the Dow Jones and the S&P 500 both lost ground during Friday’s trading session. The S&P500 lose 0.13% of its value, while the Dow Jones lose a mere 0.08%. The biggest winner on Friday was Wynn Resorts as it rose by more than 3%, while the biggest loser on the S&P500 was Nordstrom Inc. as its stock price fell by more than 9%. Yields on U.S. Treasury also dipped during Friday’s session as the U.S. 10 year saw its price rise by almost 0.6% but its yield fall by 2.3%. In the currency market, the U.S. dollar gained some ground on the British Pound as it rose by 0.12%, but saw its value dip by 0.48% against the Japanese Yen. On Friday, Brent Crude also traded slightly lower as the price of one barrel of oil now sell at $50.71 which translates to a 0.12% daily change, while gold traded positively as it increased to 0.35% to now stand at £1,227.
You are signing up to receive news, updates, general market announcement, articles and product or service marketing. By signing up you are consenting to our privacy policy and can unsubscribe at any time.