European Bourses Not Enjoying Bullish Winds From US Stocks

European stocks were little changed, with the Stoxx Europe 600 Index heading for a weekly gain, as Federal Reserve Chair Janet Yellen reiterated the central bank will continue to support the economy. U.S. index futures were also little changed, while Asian shares rose.

SAP AG lost 2.2 percent after Germany’s biggest technology company reported quarterly sales and earnings that missed analysts’ estimates. Akzo Nobel NV slid 3.8 percent after posting revenue that fell short of projections. Actelion Ltd. climbed 2.2 percent after saying it may review its earnings forecast after reporting better-than-estimated quarterly profit.

The Stoxx 600 dropped 0.1 percent to 330.58 at 8:06 a.m. in London. The benchmark has climbed 0.5 percent this week. It has still declined 2.6 percent from this year’s high on April 4 amid a confrontation between Ukraine’s acting government and pro-Russian separatists in the country’s eastern region.

The Standard & Poor’s 500 Index futures slipped 0.2 percent, while the MSCI Asia Pacific Index climbed 0.3 percent. Markets in Denmark, Norway and Iceland are closed for the Maundy Thursday holiday. Trading in Sweden closes at 1 p.m. local time.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu