Europe Stocks Jump on Corporate News; Futures Flat: Markets Wrap, , on October 16, 2020 at 7:24 am

By ILP
On 10/16/2020
In Financial News
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(Bloomberg) — Stocks in Europe gained on the back of positive corporate news, while U.S. equity-index futures fluctuated as investors considered the economic impacts of fresh restrictions to curb the coronavirus pandemic and the stalemate over U.S. stimulus.Volvo shares rose after the car maker’s results beat analysts’ estimates. Thyssenkrupp surged more than 20% after a report that Liberty Steel will make a multi-billion-euro bid for its steel unit. Shares slipped in Tokyo and Seoul but climbed in Hong Kong. Treasuries edged up and the dollar was steady, while crude oil retreated.The British pound held Thursday’s drop versus the euro, with Prime Minister Boris Johnson set to decide on Friday whether to abandon trade talks with the European Union after the bloc’s leaders refused to give him the clear signal he wants in order to remain at the table.With fresh U.S. stimulus remaining elusive for now, investors are monitoring clampdowns in Europe’s biggest cities as concern grows that measures to contain the virus’s spread could cause more damage to a fragile global recovery. Data Thursday showed an unexpected surge in U.S. jobless claims to the highest since August — a troubling sign for a labor market whose recovery was already slowing.“We need to take into account the tremendous rally we’ve had over the past five months so some consolidation is certainly warranted,” Jim McDonald, chief investment strategist at Northern Trust, said on Bloomberg TV. “The new risk emerging on the horizon is the increasing cases of Covid that are sweeping across Europe and increasing across the U.S.”Friday brings the expiry of options contracts on U.S. equities, indexes and exchange-traded funds, lifting the chances for intraday volatility.Here are some key events coming up:Virtual annual meetings of the International Monetary Fund and the World Bank Group continue through Oct. 18.St. Louis Fed President James Bullard discusses monetary policy in transitionon a virtual panel during the annual meetings of the IMF.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 8:13 a.m. in London.The Stoxx Europe 600 Index gained 0.7%.The MSCI Asia Pacific Index dropped 0.3%.The MSCI Emerging-Market Index rose 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro was little changed at $1.1708.The British pound was little changed at $1.2911.The yen rose 0.1% to 105.30 per dollar.BondsThe yield on 10-year Treasuries was little changed at 0.73%.Germany’s 10-year yield was flat at -0.61%.The U.K.’s 10-year yield was little changed at 0.18%CommoditiesWest Texas Intermediate crude decreased 1% to $40.56 a barrel.Gold slid 0.1% to $1,905.93 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.,

Europe Stocks Jump on Corporate News; Futures Flat: Markets Wrap(Bloomberg) — Stocks in Europe gained on the back of positive corporate news, while U.S. equity-index futures fluctuated as investors considered the economic impacts of fresh restrictions to curb the coronavirus pandemic and the stalemate over U.S. stimulus.Volvo shares rose after the car maker’s results beat analysts’ estimates. Thyssenkrupp surged more than 20% after a report that Liberty Steel will make a multi-billion-euro bid for its steel unit. Shares slipped in Tokyo and Seoul but climbed in Hong Kong. Treasuries edged up and the dollar was steady, while crude oil retreated.The British pound held Thursday’s drop versus the euro, with Prime Minister Boris Johnson set to decide on Friday whether to abandon trade talks with the European Union after the bloc’s leaders refused to give him the clear signal he wants in order to remain at the table.With fresh U.S. stimulus remaining elusive for now, investors are monitoring clampdowns in Europe’s biggest cities as concern grows that measures to contain the virus’s spread could cause more damage to a fragile global recovery. Data Thursday showed an unexpected surge in U.S. jobless claims to the highest since August — a troubling sign for a labor market whose recovery was already slowing.“We need to take into account the tremendous rally we’ve had over the past five months so some consolidation is certainly warranted,” Jim McDonald, chief investment strategist at Northern Trust, said on Bloomberg TV. “The new risk emerging on the horizon is the increasing cases of Covid that are sweeping across Europe and increasing across the U.S.”Friday brings the expiry of options contracts on U.S. equities, indexes and exchange-traded funds, lifting the chances for intraday volatility.Here are some key events coming up:Virtual annual meetings of the International Monetary Fund and the World Bank Group continue through Oct. 18.St. Louis Fed President James Bullard discusses monetary policy in transitionon a virtual panel during the annual meetings of the IMF.These are some of the main moves in markets:StocksS&P 500 futures were little changed as of 8:13 a.m. in London.The Stoxx Europe 600 Index gained 0.7%.The MSCI Asia Pacific Index dropped 0.3%.The MSCI Emerging-Market Index rose 0.1%.CurrenciesThe Bloomberg Dollar Spot Index was flat.The euro was little changed at $1.1708.The British pound was little changed at $1.2911.The yen rose 0.1% to 105.30 per dollar.BondsThe yield on 10-year Treasuries was little changed at 0.73%.Germany’s 10-year yield was flat at -0.61%.The U.K.’s 10-year yield was little changed at 0.18%CommoditiesWest Texas Intermediate crude decreased 1% to $40.56 a barrel.Gold slid 0.1% to $1,905.93 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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