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Euromarkets Falling Today, Oil Rebounds

By Panayiotis MiltiadousMarket OverviewAug 19, 2015 07:27AM ET
www.investing.com/analysis/euromarkets-falling-today-262208
Euromarkets Falling Today, Oil Rebounds
By Panayiotis Miltiadous   |  Aug 19, 2015 07:27AM ET
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The negative effects of the developments in China seems to "haunt" Euromarkets for one more day, with the indices starting with losses also today and with the export sector being again in the epicenter of liquidations.

The British FTSE 100 index fell by 0.49% at 6488 points, the German DAX recorded a fall of 0.77% at 10,816 points and the French CAC 40 moved downward by 0.63% at 4,936 points.

Stoxx 600 fell by 0.73% at 385.31 points. From the day that the devaluation of the Chinese yuan was decided last week, the index has lost more than 3.5% of its value.

On the board, Carlsberg (COP:CARLa) recorded losses of 6.9% as the results that were announced in the second quarter of the year disappointed analysts. The company also lowered its target for the operating profit of 2015.

In contrast, Admiral Group (LONDON:ADML) increased by 2.7% as it announced an increase of the net income for the first half to £447.7 million, from £444.6 million in the same period last year.

Also, Raiffeisen Bank (VIE:RBIV) recorded profits of 1.2%, after it announced that the profits of the second quarter exceeded analysts' estimates. The profit amounted to €204 million, while analysts had expected that it would not have exceeded €138 million.

Oil Rebounded Yesterday
Oil rebounded yesterday, after three days of losses that brought it to its lowest level of the last six and a half years, while gold corrected on Tuesday. In particular the delivery contracts of December for gold closed with losses of 0.1%, at $1,116.90 an ounce. Meanwhile, crude oil of September delivery rose by 1.8% and closed at $42.62 a barrel.

Euromarkets Falling Today, Oil Rebounds
 

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Euromarkets Falling Today, Oil Rebounds

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