European Equities: Brexit, COVID-19, and U.S Stimulus Talks in Focus | Forum

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wisepowder
wisepowder Dec 15 '20
It was a mixed day for the European majors on Tuesday. The CAC40 fell by 0.23%, while the DAX30 and EuroStoxx600 rose by 0.06% and by 0.20% respectively.To get more news about WikiFX, you can visit wikifx official website.
  Concerns over a continued rise in new COVID-19 cases across Europe and the U.S weighed on risk sentiment through the session.
  The latest rise in new cases has led to some U.S states reintroducing containment measures, with the German government also announcing plans to curb the spread of the virus.
  Better than expected economic data from Germany and the Eurozone coupled with hopes of a Brexit deal provided the much-needed support.
  News of Boris Johnson planning to meet with EU President Ursula von der Leyen to break the impasse raised hope. Johnsons willingness to remove contentious clauses from the Internal Market Bill was also well received.
  The Stats
  It was a relatively busy day on the Eurozone economic calendar. German and Eurozone ZEW Economic Sentiment figures, French non-farm payrolls, and finalized Eurozone GDP numbers were in focus.
  In December, Germany‘s ZEW Economic Sentiment Index jumped from 39.0 to 55.0, with the Eurozone’s rising from 32.8 to 54.4. The jump came off the back of COVID-19 vaccine news.
  For Germany, there was a fall in sentiment towards current conditions, however. Germanys current conditions index fell from -64.3 to -66.5.
  From the Eurozone, the Eurozone economy expanded by 12.5% in the 3rd quarter, reversing an 11.8% contraction from the 2nd quarter. Year-on-year, the economy contracted by 4.3%. In the 2nd quarter, the economy had contracted by 14.8%. Both were revised upwards from previous estimates, though only marginally.
For the DAX:It was a bearish day for the auto sector on Tuesday.BMWfell by 0.76%, with ContinentalandVolkswagenseeing losses of 0.48% and 0.53% respectively. Daimler saw a more modest loss of 0.05% on the day.
  It was also a bearish day for the banks. Deutsche Bankand Commerzbankfell by 0.94% and by 0.85% respectively
  From the CAC, it was a bearish day for the banks. BNP Paribasfell by 0.49%, with Credit AgricoleandSoc Genending the day with losses of 2.66% and 1.53% respectively.
  It was also a bearish day for the French auto sector. Peugeotand Renaultdeclined by 0.44% and by 1.39% respectively.
  Air France-KLMslid by 3.04% with the latest spike in new COVID-19 cases weighing, while Airbus SEslipped by 0.50%.
  On the VIX Index
  It was back into the red for the VIX on Tuesday. Reversing a 2.45% gain from Monday, the VIX fell by 2.91% to end the day at 20.68.
  While a continued rise in new COVID-19 cases drew attention, progress towards a U.S stimulus package supported riskier assets.
  The Dow and S&P500 saw gains of 0.35% and 0.28% respectively, with the NASDAQ rising by 0.50%.
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