Article / 19 July 2017 at 11:14 GMT

Mid-session Europe: Shares gain, USD struggles

Saxo Markets
Denmark
  • European stocks boosted by favourable earnings reports
  • Sweden's Electrolux posts above-forecast Q2 profit, raises N.America outlook
  • Reckitt Benckiser shares rise on $4 billion deal to sell food business
  • Precious metals remain in demand as yields ease
  • USD remains under pressure on Trump administration's legislative woes
  • Generally muted FX trading session ahead of Thursday's ECB meeting
  • Crude oil up on Saudi pledged to cut 1 million barrels/day more
Electrolux washers
 Shares in Swedish white goods maker Electrolux jumped after the group posted 
better-than-expected Q2 earnings. Photo: http://www.electroluxgroup.com/en

By the Global Sales Trading Team

  • European stocks rose by midday on Wednesday, boosted by well-received corporate earnings reports, including from Swedish appliance maker Electrolux AB which reported forecast-beating second-quarter profits and raised its North American market forecast.

  • More than $4 billion deal to sell food business boosts shares in UK's Reckitt Benckiser.

  • Precious metals remain in demand on the back of easier yields.

  • US president Donald Trump’s economic agenda is struggling to advance, and that is keeping market sentiment towards the US dollar weak.

  • Crude oil prices gained on Saudi Arabia’s pledged to cut 1 million barrels/day more to counter the rise in producer countries not bound by the Opec-led production cut agreement.

Please click on the attached PDF for the Saxo Bank Global Sales Team's overview of the mid-session movements seen in forex, equity, FX option, commodity, and bond markets.

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Mid-session Europe: July 19, 2017

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