Vincenzo Pinto/Agence France-Presse/Getty Images. Renewed hopes over a coronavirus vaccine also helped improved sentiment at the beginning of the week. He writes for MarketWatch, Barron’s, Penta and Financial News. UKX, “There will be quite a few questions at the next ECB meeting as to whether they want to see a patch of euro weakness.”. -1.23% 3 min read., US technology stocks now have a higher valuation than all of Europe’s equity markets, according to a report on markets outlet. Further inflows into stock funds could also help offset the impact of a stronger currency, with Bank of America Corp.’s latest survey showing the EU is the most preferred global equity region among fund managers. Aug 29, 2020 Aug 29, 2020. JP Morgan stock trades at mid-2019 values after suffering a hit. Before it's here, it's on the Bloomberg Terminal. U.S.-based Gilead Sciences Inc. GILD announced a $21 billion deal on Sunday to buy biotech Immunomedics Inc. IMMU, maker of a key breast-cancer drug. “If PMIs continue rising, as we expect them to over the coming months, then equity markets will be able to rise even against the backdrop of a strengthening currency, given that the negative impact is offset by another powerful driver.”, “If the euro is rising versus the dollar because ALL currencies are rising versus dollar (like GBP, CHF, SEK) then in trade-weighted terms the pain is unlikely to be as bad.”. The Dow Jones Industrial Average undefined closed 525 points, or 1.9%,lower at 26,763, around its low for the day, while the S&P 500 index undefined declined 2.4% to 3,237, threatening to push the index closer to correction at 3,222.76 for the first time since March. Heading the list are the so-called FAANG tech darlings: Facebook, Amazon, Apple, Netflix, and Google (now restructured as Alphabet). She has $140,000 in student loans — and just asked for my ‘blessing’ to work part time, ‘Vote him out!’ President Trump booed during visit to RBG’s casket, Here are two stocks that stand to benefit from California’s electric-vehicle push, 3 ways to de-risk your portfolio in volatile times, White House spokeswoman says Trump 'will accept the results of a free and fair election'. LSE, Euronext stock exchange is seated in several cities in Europe including Brussels, London, Amsterdam, Paris, and Lisbon. was 1.7% up and the Nasdaq A rare show of investor confidence in European unity is boosting the region’s stocks and currency at the same time, but equities’ good fortune could take a hit if the euro keeps climbing toward a pain threshold seen around $1.30, according to a Bloomberg survey. Historical and current end-of-day data provided by FACTSET. However, while the blockchain, crypto mining, and tech firms are enjoying a moment in the US markets, the country’s financial giants have faced the ill-effects of an economic downturn. DJIA, MSFT, They account for a collective $7.5 trillion of the tech sector’s total valuation; Apple alone is. Stimulus, pandemic and sentiment are more powerful drivers.”, “The rising euro is a manageable headwind. “We believe further euro strength, for the ‘right’ reason, should not be an impediment to, “If the risk perception associated to the, “The higher the euro, the heavier will inflation prints be in Europe, all else equal. rose 0.2% after ending last week nearly 1.7% higher, the best weekly return since the week ending August 7. Another way to invest in the European stock market is to buy foreign stocks through American Depository Receipts (ADRs). . +1.05% Grayscale Bitcoin Trust, which is currently worth $2.3 billion. That might come later, when the situation stabilizes, when we know if there is a vaccine and we can see clearer.”, “The trade-weighted euro would need to appreciate by another 5 to 9% to make a significant difference and the rest of the world slow down at the same time.”. on the offer. Updated stock indexes in Europe, Middle East & Africa. It trades at $11,500 as of August 29. As of 2017, it was the largest stock exchange in Europe with over 1,200 issuers, representing a market capitalization of $4.3 trillion. Father, Son Used-Car Sellers Get $5 Billion Richer in a Day, JPMorgan to Move $230 Billion Assets to Germany Under Brexit, Stocks Hit Session High on Economic Stimulus Hopes: Markets Wrap, A 32-Year-Old Finance Tycoon Looms in Obscure Stock Market, HSBC Loyalists Lose Faith After Stock’s $83 Billion Plunge, “Another 10% rise in the euro and you get some impact on profit margin in a big way. As per equity data site Barcharts, these include mining companies like Riot Blockchain, and Hut 8 Mining, with market caps of $170 million and $104 million respectively, crypto advisory firms like Blockchain Inc, and the Grayscale Bitcoin Trust, which is currently worth $2.3 billion.