Europeans Market Tumble ! Losses Everywhere
It is being reported that the European markets have tumbled. The European markets have reported losses, as the Deutsche Bank dropped more than 5 percent. The bank reported a total net loss of 497 million euros for the last year, 2017. The best performing bank was Danske Bank, which was up by 2.7 percent.
On the other hand, the 30 year treasury bond yield crossed the 3% mark for the first time in many months whereas the 10 year yield increased by 2.792 percent.
Equities it seems have moved lower this Friday and investors are confused by the market and are trying to digest the earnings report. There have been losses in majority of things. For instance, the Stoxx 600 dropped by 0.3 percent and there were a lot of sectors in the negative territory. The leisure and travel stocks suffered the most and there were downgrades in all of the sectors.
One of the most important stocks and industry under the pressure was banking stocks. There were losses being reported in earnings. Deutsch Bank reported a net loss of 497 million euros for the year 2017, which shocked most people. However, this is the bank’s third annual successive loss and it seems that it has continued to maintain its losing streak. There was a drop of 5 percent in the company’s stock.
Moreover, Caixa Bank was another bank to suffer as its stock dropped by 3 percent. The Spanish bank reported a profit but the profit was down by as much as 70 percent for the 3rd quarter. There were losses everywhere in the banking market. However, Dankse bank managed to do well as it was up by 2.7 percent.
Britvic lead the increases as it was up by 4.5 percent. Moreover, Philips Lighting reported a better than expected earning in the fourth quarter. On the other hand, the 30 year treasury bond crossed the 3% mark since the month of May which was one positive news. The other was that the 10 year yield increased by 2.792 percent.
So far, there have been all losses for the European market.