EU stocks mixed early Friday, GDP data support market . . . . . . . . . European stocks are mixed with the kick-start of the last trading session this week on Friday after the relief gains seen yesterday, positive stream of growth data from Germany and UK supported the sentiment pushing early gains. The gains were limited in the early hours, still lingering the fear of central banks tightening from the Fed to the ECB and BoE. The market still expects the Fed to slow the pace of purchases at the next meeting in September, lower chances for more QE from the BOE and also slim chances for any rate cut from the ECB. Fear of tightening is pressuring the mixed sentiment, with gains limited in early hours. The market is mixed fluctuating between gains and losses with the STOXX 600 adding 0.17% trading at 304.06 while STOXX 50 is trading down 0.15% at 2808.18. Germany’s DAX 30 is trading higher after the GDP showed the economy expanded 0.7% revised higher from the initial 0.5%. DAX 30 is little changed to trade at 8404.77 UK’s FTSE also extended early trading gains after the GDP showed also the economy expanded more than initially estimated, posting 0.7% growth in the second quarter revised from 0.6% supported by exports and capital spending. FTSE 100 is trading higher by 0.24% at 6462.56. The French CAC 40 on the other end is down 0.3% trading at 4046.98 alongside Italy’s FTSE MIB down 0.25% trading at 17266.77. Investors are geared for US new home sales data for July after existing home sales provided a positive insight into the market. Comments from Jackson Hole will also be watched for even with the absence of Fed Ben Bernanke and ECB Mario Draghi, any policy and growth comments will be of the essence from global central bankers. #egyptyard
Posted on: Fri, 23 Aug 2013 11:06:28 +0000
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