Stock markets were mixed in Europe, where the German and French indices edged down and the Italian MIB gained more than 1%.
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Global stock markets advanced in a session where trade-related concerns had a muted effect on sentiment.
Stock markets in advanced economies registered moderate gains in a quiet session, as exemplified by the low volatility levels in which the VIX stood.
The main stock markets in advanced and emerging economies registered gains, with the exception of the Portuguese PSI and the Shanghai Index.
In fixed-income markets, U.S. and German sovereign yields ticked up. Sovereign spreads declined in Spain and Portugal but rose in Italy.
Stock markets were mixed, with slight gains in the Eurozone (with the exception of Spain's Ibex 35), a mixed behavior of the U.S.' main indices and small losses in emerging equities (which were driven by Latin American stocks and partially counterbalanced by Asian indices).
Yesterday, markets were relatively quiet as investors awaited for the outcome of the U.S. Federal Reserve's meeting.
Investors digested the Fed's third rate hike of the year (see our detailed analysis of the meeting here) with moderate stock market gains, relatively unchanged sovereign yields, and a mixed behavior in FX markets, where the euro eased to $1.16 while some EM currencies appreciated (such as the Turkish lira the Brazilian real) and others weakened (such as Argentina's peso).
The last session of the week was marked by the announcement of the Italian 2019's fiscal deficit target (2.4% of GDP), which weighted on most European assets.
Financial markets started the week in a positive mood after Canada finally agreed to join the U.S.-Mexico trade deal.
Yesterday's session was once again dominated by the uncertainty around the 2019's Italian fiscal deficit. In this context, the Italian risk premium continued to rise and exceeded the maximums reached in May (above 300bp).
Stock markets had a positive tone and gains in equity indices were broad-based across advanced and emerging economies.
In yesterday's session, global stock markets undid the gains registered on the previous day and losses were broad-based across the globe.
Stock markets declined across the board in the last trading session of the week, while in fixed-income markets U.S. and German sovereign yields ticked up and Italy's sovereign spread rose to 285bp.
Global risk aversion and tensions around Italy's fiscal stance continued to drive financial markets.
Global financial markets continued to trade on a cautious mood and U.S. and emerging-economy stocks nudged down.
Volatility spiked amid fears that U.S.-China trade tensions may have damaged Q3 corporate earnings.
In the last session of the week, the mood was disparate in both sides of the Atlantic. In Europe, losses in the main stock markets were moderate and broad-based, while in the U.S., the S&P 500 bounced back from the losses registered on previous days.
Advanced economies' stock markets were mixed in the first session of the week.
Global financial markets were in a positive mood in yesterday's session.