European Stock Markets Close Lower on Account of US Earnings Season, US-China Trade Tensions
The US earnings season has made its market on European stock markets, as a disappointing earnings report from SAP pulled European stocks low
The US earnings season has made its market on European stock markets, as a disappointing earnings report from SAP pulled European stocks lower. However, a Bloomberg report about ECB considering a potential change of its 2% inflation target provided some support to the stock markets in the Europe region.
On Thursday, DAX fell to a one-month low after SAP’s shares lost 5.6% of its value on the release of its EPS report. The leading tech company reported a 21% decline in its quarterly operating profit and stated that it will take about a year for its margins to improve significantly.
In addition, the ongoing trade dispute between US and China continued to weigh on global stock markets, with reports suggesting that talks had stalled over the issue of the ban on Huawei, Even the FTSE traded 0.5% lower on the release of a strong retail sales report, which boosted the value of the Pound, and took some sheen off British stocks.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals