EU Market Open: May 11, 2016

EU Market Open: May 11, 2016

Alphaseeker IM  | May 11, 2016 09:39

In Asia stocks were lower on Wednesday as investors feared the lack of positive signs of a sustainable recovery in China and other emerging markets. The Nikkei rose 0.1% to 16,574.06.

The USD/JPY fell on Wednesday as investors took profits after intervention warnings from Japanese officials. The dollar fell 0.4% to 108.83 yen. The euro/usd added 0.1% to $1.13810.

Oil prices fell on Wednesday as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets. International Brent crude oil futures were trading at $45.49 per barrel, down 3 cents from their last settlement, while U.S. WTI crude futures were down 8 cent at $44.58 a barrel. Industry group American Petroleum Institute (API) said on Tuesday that U.S. crude inventories rose by 3.45 million barrels to a record 543.1 million barrels during the week ended May 6. Spot gold was up 0.3 percent at $1,269.20 an ounce.

In the US stocks rose across the board on last night, with a jump in oil and a rally in Amazon (NASDAQ:AMZN) helping propel the S&P 500. The S&P 500 rose 1.25% to 2,084.39. Gap (NYSE:GPS) lost 11.51% after the retailer reported a decline in sales for the fifth straight quarter. After the bell, Walt Disney Co (NYSE:DIS) posted a fiscal second-quarter report that disappointed investors and its stock fell 5%.

Economic Calendar
09:30 GMT+1 UK Manufacturing Production m/m
15:30 GMT+1 US Crude Oil Inventories

European Equity Pre-Market Earnings
Allianz (DE:ALVG) – Q1 revenue falls 6.4% to EUR 35.4bln, Q1 non-operating results increased by EUR 339mln to EUR 278mln. Co. sees FY operating profit between EUR 10-11bln and announces Korea unit to have negative impact of EUR 350mln.

E.ON (LON:0MPP) – Q1 underlying net income EUR 1.31bln vs. Exp. EUR 1.28bln. Q1 EBITDA EUR 3.07bln vs.

EDF (PA:EDF) – Q1 sales EUR 21.4bln vs. Exp. EUR 22bln. Co. confirmed 2016 targets for EBITDA.

Numericable (LON:NUM) – Q1 revenue EUR 2.57bln vs. Exp. EUR 2.59bln Q1 Adj. EBITDA EUR 851mln vs. Exp. EUR 878mln.

DISCLAIMER: The above is not considered financial advice or any endorsement to use any particular service. If you wish to use any of the services mentioned, please seek independent advice.

RISK WARNING: Spread betting, CFD, futures and options trading carries a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved. Past performance of a managed service is not a guide to future performance.

Original post

Alphaseeker IM

Related Articles

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (India) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.