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 0.4% at 03:13 AM ET (0713 GMT), weighed down by banking stocks and automakers which fell by 1.5%.
Britain's Lloyds Banking Group swung to a rare pretax loss in the first half of 2020, while Volkswagen reported a first-half operating loss and slashed its dividend.
Anheuser-Busch InBev rose by 9.4%, performing the best in the STOXX 600, after it claimed that it was encouraged by global beer sales recovery in June.
Meanwhile, Asian stock markets and Wall Street saw gains overnight after Fed Chairman Jerome Powell vowed to "do what we can, and for as long as it takes" to boost an economy severely impacted by the pandemic.
Investors are now watching out for a slew of economic data for clues, such as Germany’s second-quarter GDP data, the Eurozone’s June unemployment numbers, and final consumer confidence data.
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 ...
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 climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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 ...