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European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market.
The pan-European STOXX index inched higher by 0.3% at 03:19 AM ET (0719 GMT), while the German DAX index rose by 0.5%. In the U.K., the FTSE index gained 0.6%.
As new COVID-19 cases continued to dampen market sentiments on Monday, investors kept an eye out for the conclusion of a U.S. Fed meeting as they decide on whether more fiscal stimulus would be required to prop up the U.S. economy.
Meanwhile, shares of luxury makers fell, with Louis Vuitton owner LVMH falling as low as 2.8% after the pandemic dented its second-quarter sales. Stocks of Gucci owner Kering as well as France’s Hermes also fell, while luxury jacket maker Moncler saw its shares falling by 4%, reporting losses for the first half of the year for the first time ever.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
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