OctaFX | OctaFX Forex Broker
Open trading account
Back

European stocks drop into losses

FXStreet (Mumbai) - European equities turned red on Monday as investors remain cautious despite China’s surprise rate cut on Friday.

The pan-European Euro Stoxx 600 index retreated 0.25% to 376.41 levels. Shares in UK broadband provider TalkTalk lost 9%. The firm hired defense company BAE Systems to investigate a cyber attack that may have led to the theft of personal data from its more than four million customers.

Shares in National Bank of Greece and Alpha Bank lost 7% and 6% respectively. Meanwhile, Aberdeen Asset Management advanced 3.8%. Telefonica Deutschland AG gained 2.34%. Credit Suisse strengthened 0.7% after it priced its private placement of 58 million new shares at 22.75 Swiss francs each.

Earlier today, the Asian stocks extended the rally as investors cheered rate cut in China.

US GDP and FOMC meeting could dampen the USD rebound - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the US dollar faces some downside risks in the week ahead from the upcoming FOMC meeting and release of the latest US GDP report for Q3.
Read more Previous

USD/CAD testing lows near 1.3130

The Canadian dollar is picking up pace vs. its Canadian counterpart on Monday, taking USD/CAD to the 1.3135/30 band...
Read more Next
Start livechat