European Equities Mixed, FTSE 100 Outperforms
European equities trading flat as the initial optimism after China – US trade truce that agreed in Osaka, Japan evaporates. As of writing the DAX 30 is 0.05 percent lower at 12,514 the CAC 40 in Paris is adding 0.03 percent at 5,569, in London the FTSE 100 outperforms as it is 0.55 percent higher at 7,538 despite the UK Markit Construction PMI came in at 43.1 worst than analyst’s expectations of 49.2 for June. Earlier data from Germany showed that the Retail Sales shrunk, month over month, at -0.6 percent, worst than analyst’s forecasts of 0.5 percent in May, the year over year figure came in at 4%, beating forecasts of 2.7 percent in May. In the EU leader’s summit they still can’t decide about the top positions in ECB, Commision, the European Council and the European Parliament. Investors in the old continent also turn their eyes and twitter accounts on President Trump as US is mulling tariffs against imports from EU amid the airplane industry dispute. The Office of Trade proposed a list of additional products for tariff countermeasures that covers an estimated $4B, including, cheese, whiskeys and wines.
In Wall Street, the futures trading lower, signaling a slightly negative start for equities in the other side of the Atlantic.Don’t miss a beat! Follow us on Twitter.