A week on the market: the Czech stock market performed better than other European ones

The price of oil fell, so did the shares of oil companies. British bonds responded with a well-known drop in their prices and thus a rise in yields. The good thing about the first is that a lot of unemployment benefits are worth a lot in the USA.

Stock markets are in uncertainty about the results of the season

Most trading in Europe and then in the United States took place due to a decline in major indices, with the main share of oil and task companies such as Alcoa and Rio Tinto, which responded to the fall in oil and metal prices. The negative mood was also documented by several maximum prices of put options on US indices.

The US non-manufacturing index of buyers and the good results of the US government bond auction gave a later impetus to US stocks to erase losses. The DJIA index thus managed to increase by about 0.5%. By contrast, Western European indices lost more than 1% on average. The stock market was empty due to the light of day.

He gave the day of oil prices to their declining trend, and so did the shares of oil companies. On the contrary, the growth of German factory orders has put pressure on the growth of task titles, because they are the first ones to make the most of the industry. Otherwise, there could be losses of the main index jet vt.

In the USA, shares of Discover Financial, a large credit card issuer, contributed to them. Investors have learned that the company will need to issue new shares in order to repay its own aid at all. The Dow Jones Industrial Average thus lost almost 2% of its value, while Western European stocks were able to close trading only slightly in dispute. The PX index, on the other hand, increased slightly due to the actions of Komern banka.

In the middle of the week, it provided IMF support to the stock markets, but this was not enough to prevent Western European indices from falling sharply. They were pushed down mainly by British banking stocks, as the British government announced future tough regulation of the banking sector, which meant, among other things, your requirements for capital adequacy. Even this time, thanks to oil prices, energy titles lost. Waste-European indices thus ended trading with losses of over 2%.

The American Dow Jones Industrial Average was able to at least stagnate thanks to another rush of the sttnch bond auction. This was also achieved by the PX eskma, when the shares of EZ, which received a recommendation, grew by almost 4%.

On Thursday, the United States won a banking title as Bank of America improved its insight (specifically for Goldman Sachs). Stopping the fall in oil prices was a testament to the energy title. These were supported by the results of Alcoa, which She was in a loss, but men, it wasn’t expected. The Dow Jones Industrial Average was only able to stagnate and the Western European indices even fell by more than 1%. The Czech PX index was able to strengthen the popular Telefonica by about 1% in defensive days and in recent days.

On the last day of the week, the stock market was able to withstand the pressure of other European stock exchanges and was the only one to grow, albeit slightly. Apart from EZ, all major titles recorded profits. Such was the situation before an hour in the afternoon. The New York Stock Exchange opened and after writing this article.

It was partly cloudy in the macro world

In the water of the week, we were acquainted with the US June index of purchasing managers for the services sector, which grew by 3 points to 47 points, surprised me positively. It is therefore not far from the value of 50 points, which theoretically separates the contraction and expansion of the sector.

However, investors with funds in the British pound did not sweat at first, that industrial production fell by 0.6% in the meantime in May, although there was a presumption that there would be modest growth. The German factory orders turned out to be very positive, which even rose by more than 4% in the meantime, although analysts expected growth of about seven quarters lower.

It is worth noting that Barack Obama’s chief economic adviser has been told that it would be necessary to support the Balkans, because the previous shortage does not work. It is interesting to see how this is a reason for some to want a new balk and at the same time for some a reason to reject it.

In the middle of the working week, the publishing house gave data for Great Britain. Specifically, it was the June consumer yard and the house price index. The first change indicator showed the number by 4 points, in the positive sense of the word he finished the real market. The kind of change showed a slight interim decline, although stagnation was expected. Recently, therefore, it has been repeated recently that Britain comes positively at first, which are then later devalued by other negatives.

The final version of GDP for the entire euro area for the first quarter of this year was published, and it did not surprise them when it showed that the product fell by 2.5% quarter on quarter. The International Monetary Fund slightly worsened its forecast for global GDP decline to 1.4% this year. In the first year, however, it assumed a growth of 2.5%, which means a more optimistic forecast.

On Thursday, it decided on the rates of the Bank of England rates. According to oekvn, conservation rates remained at 0.50% ron. However, in one step, the British central bank was surprised – it did not set a limit for the repurchase of assets under the quantitative easing program (= it will not pour so many pensions into circulation).

British bonds responded with a well-known drop in their prices and thus a rise in yields. Thus, traditional statistics on the number of new ones enough to support unemployment in the USA in the previous week were available. This time there were less than 600 thousand of them, which can be considered a shower.

In the Czech Republic, the Ministry of Labor and Social Affairs published the June unemployment rate, which reached 8%, and thus surprised the public very positively. In addition, the June consumer price index was published in June, which stagnated in the meantime and the mezzanine increased by 1.2%, in both cases reaching a few values ​​than expected. The disinflation process has therefore taken root. President Klaus vetoed one hundred anti-crisis measures, including the company. An unknown source near the German authorities claimed that, according to the latest governments, Germany was out of recession.

From the five macro data, the United States’ trade balance and the University of Michigan’s preliminary estimate of the consumer yard index were important. However, both of these data were published and after the writing of this article. The IMF’s Dominique Straus-Kahn came out in a similar sense to Obama’s adviser that they would need to support the packages.

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