European Equity Market Handover – 29th April 2019

Oil shares are continuing to drive most large markets lower

  • Oil shares are continuing to drive most large markets lower as investors try to get ahead of possible impact from U.S. President Donald Trump’s demand last week for OPEC to reduce prices
  • Oil looks so pervasive that it’s drowning out positives, like a wide-ranging upgrade of banks by JPMorgan that underpins these shares
  • A more emphatic re-election than expected of Spain’s Socialist Pedro Sanchez as Prime Minister accounts for the main index there underperforming
  • U.S. stock markets aren’t rousing either, shrugging off the first big release in this week’s busy schedule. A one-year low in the Federal Reserve’s preferred inflation gauge – the PCE Index – and rebounding consumer spending are taken as neutral ahead of Wednesday’s Fed statement
  • Wall Street futures were indecisively around the flat-line a short while ago. The Dow was up a few points; Nasdaq and S&P contracts were around 0.5 to 2 points offside

Corporate News

  • Focus in terms of individual equities is almost all about this evening and the days ahead, with Alphabet reporting quarterly earnings this evening and other global heavyweights, including Apple, GM, GSK, Qualcomm, BP, HSBC, Royal Dutch Shell and numerous others set to step up to the plate.

Upcoming corporate highlights

Date

Time

Company

Event Name

29-Apr-2019

BMO

Loews Corp

Q1 2019 Loews Corp Earnings Release

29-Apr-2019

AMC

Western Digital Corp

Q3 2019 Western Digital Corp Earnings Release

29-Apr-2019

AMC

MGM Resorts International

Q1 2019 MGM Resorts International Earnings Release

29-Apr-2019

AMC

Alphabet Inc

Q1 2019 Alphabet Inc Earnings Release

30-Apr-2019

BMO

General Motors Co

Q1 2019 General Motors Co Earnings Release

30-Apr-2019

BMO

ConocoPhillips

Q1 2019 ConocoPhillips Earnings Release

30-Apr-2019

BMO

Mastercard Inc

Q1 2019 Mastercard Inc Earnings Release

30-Apr-2019

BMO

General Electric Co

Q1 2019 General Electric Co Earnings Release

30-Apr-2019

BMO

HCA Healthcare Inc

Q1 2019 HCA Healthcare Inc Earnings Release

30-Apr-2019

BMO

Phillips 66

Q1 2019 Phillips 66 Earnings Release

30-Apr-2019

BMO

McDonald’s Corp

Q1 2019 McDonald’s Corp Earnings Release

30-Apr-2019

BMO

Pfizer Inc

Q1 2019 Pfizer Inc Earnings Release

30-Apr-2019

AMC

Apple Inc

Q2 2019 Apple Inc Earnings Release

BMO: before market open          AMC: after market close


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