EUROPE MARKETS: Europe Stocks End In The Green, Boosted By Major Oil Companies
2018年9月26日 - 2:23AM
Dow Jones News
By Barbara Kollmeyer, MarketWatch
Next jumps on earnings, BMW weighs on auto makers after profit
warning
Europe's main stock gauge closed in the black on Tuesday, after
a weaker start to the week as major oil companies climbed on an
extended run for crude prices and investors looked ahead to the
start of the Federal Open Market Committee meeting.
What are markets doing?
The Stoxx Europe 600 gained 0.5% to 383.89, and has finished
higher in seven of the past eight sessions.
Germany's DAX 30 added 0.2% to finish at 12,374.66, while
France's CAC 40 finished less than 0.1% higher at 5,479.10, and has
posted a gain in five of the past six sessions. The U.K.'s FTSE 100
advanced 0.7% to close at 7,507.56, gaining in four of the past
five sessions.
The euro firmed up to $1.1761
(http://www.marketwatch.com/story/us-dollar-struggles-for-direction-ahead-of-fed-rate-hike-2018-09-25)
versus $1.1749 late Monday, while the pound traded at $1.3163, up
from $1.3119 late Monday.
What is driving the market?
A big driver for Europe was Brent oil which extended four-year
highs
(http://www.marketwatch.com/story/brent-oil-extends-climb-to-4-year-high-while-us-crude-set-for-longest-streak-of-gains-in-2-months-2018-09-25)
from Monday. Looming U.S. sanctions on Iran have been a support for
prices, while over the weekend, major oil producers showed no sign
of boosting production, despite pressure from U.S. President Donald
Trump.
Need to know:All this bullishness over oil may be headed over a
cliff
(http://www.marketwatch.com/story/why-100-oil-may-be-bad-news-for-the-bulls-analyst-2018-09-25)
There was some optimism surrounding the Italian budget proposal,
due to be presented by the country's government this week. There
had been concerns that the budget could spark tensions between its
politicians and the European Union
(http://www.marketwatch.com/story/what-the-market-will-watch-for-in-italys-crucial-budget-proposal-in-the-coming-week-2018-09-21).
And that could be a risk factor for the euro, which got knocked
down from a session high of $1.1775 after European Central Bank
chief economist Peter Praet played down Monday's euro-moving
comments from ECB President Mario Draghi. The euro rose Monday
after Draghi said underlying eurozone inflation should
strengthen.
Separately, President Trump on Tuesday blasted the Iranian
regime in a speech at the United Nations in New York
(http://www.marketwatch.com/story/trump-today-president-praises-north-korea-rips-iran-in-speech-to-un-2018-09-25),
while he praised North Korea's leader and took another swipe at the
Organization of the Petroleum Exporting Countries.
Otherwise, investors were largely focused on a two-day Federal
Reserve meeting that concludes Wednesday. The Fed is expected to
deliver a 25-basis-point interest rate increase. Monetary-policy
moves in the world's largest economy is closely watched because it
influences trade in Europe.
Read:10-year Treasury yield rises above 3.10% ahead of Fed
decision
(http://www.marketwatch.com/story/10-year-treasury-yield-rises-above-310-ahead-of-fed-decision-2018-09-25)
What are strategists saying?
Among the oil gainers, BP PLC (BP.LN) "(BP.LN) shot up 2.9%,
Total SA (TOT) (TOT) rose 1.3% and Royal Dutch Shell PLC
(RDSA.LN)(RDSA.LN) closed 2.4% higher.
Next PLC (NXT.LN) shot up 7.7%, a top gainer for the Stoxx
Europe 600 as the retailer posted a healthy profit rise and
better-than-expected sales in August
(http://www.marketwatch.com/story/next-lifts-full-year-profit-guidance-2018-09-25).
On the other end, BMW AG (BMW.XE) slumped 5.4% and was a top
decliner as the German auto maker cut its profit view, blaming new
testing regulations in Europe and trade worries.
(http://www.marketwatch.com/story/bmw-cuts-profit-view-as-regulations-trade-bite-2018-09-25)
(http://www.marketwatch.com/story/bmw-cuts-profit-view-as-regulations-trade-bite-2018-09-25)BMW's
losses weighed on other German auto makers, with Daimler AG
(DAI.XE) down 1.8% and Volkswagen AG (VOW.XE)(VOW.XE) off by
1.9%.
(END) Dow Jones Newswires
September 25, 2018 13:08 ET (17:08 GMT)
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