The comeback is on! | Calamatta Cuschieri
In a choppy trading session on Thursday, French stocks performed better than broader European equities, while Wall Street was higher due to increased optimism around the first-quarter earnings season and a falling dollar and treasuries
21 April 2017, 9:32am
French stocks were in positive territory, performing better than broader European equities, as gains from Publicis Groupe and Pernod Ricard helped relieve pressure from concerns over the outcome of Sunday’s presidential election vote. In Paris, the CAC 40 moved up 1.47%, which was miles better than the 0.23% gain of the Stoxx Europe 600 which has been fluctuating between small gains and losses.
Wall Street was higher on Thursday, helped by increased optimism around the first-quarter earnings season and a falling dollar and treasuries. But mounting tensions between North Korea and the United States, and the looming French presidential election precluded investors from making risky trades.
Food in demand, Sky less so
Meanwhile, Kit-Kat chocolate maker Nestlé reported a largely flat first quarter in revenue when compared to a year earlier. Nonetheless, shares were in the green, trading 0.4% higher.
Elsewhere, shares in broadcast giant Sky reported earnings that were a little less cheerful. The company was hit by an 11% drop in adjusted operating profit in the first nine months of its fiscal year. Sky laid part of the blame for this on additional costs for English Premier League direct transmissions and a weaker advertising market. Its shares were marginally lower, but staged a rebound later in the session to close in positive territory.
British Pound rebounds
Surprise political announcements like that tend to spark a lot of uncertainty and pull the country’s currency lower as a consequence. But for the pound, it was the exact opposite. The snap general election could actually provide more clarity on the Brexit plan from Westminster and potentially make the sterling more attractive, according to analysts.
This article was issued by Rebecca Naudi, Trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article is being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.
Calamatta Cuschieri is one of Malta’s largest financial services firms. The company offe...
Data & Surveys
Trust Barometer | Muscat’s trust dips to Panama ...
Data & Surveys
Trust Barometer | Muscat’s trust dips to Panama levels as PL leads by 4 points
Updated | Labour jumps to AG’s defense after PN makes new accusations
A matter of authenticity
Updated | Godfrey Farrugia resigns as government whip, stays on as backbencher
Whistleblower denies fraud allegations, recounts Egrant shares discovery
Latest Business News