Ramsey
16-08-2002, Fri 10:17 AM
عن دواوجونز نيوزواير
EUROPEAN OUTLOOK: Markets Pause In Search Of Direction
Euro-USD 0.9814 loss 0.0006 dn 0.02%
Stlg-USD 1.5350 gain 0.0001 up 0.01%
USD-Franc 1.4896 gain 0.0001 up 0.01%
ZURICH (Dow Jones)--European shares and government bonds are likely to open little changed, along with a directionless euro.
STOCKS: European shares, unlikely to muster the muscle necessary to repeat Thursday's rallies, are likely to open little changed and drift until U.S. economic figures are released in the afternoon.
European shares ended sharply higher Thursday in a relief rally fueled by the deadline for U.S. companies to vouch for the accuracy of financial statements. But a few dozen U.S. companies had been left behind in the certification process, leaving some doubts in the markets.
While European bourses recouped all of Wednesday's losses, CSFB strategists remained wary about the near-term prospects for equities.
The investment bank said it saw little reason to believe the recent trend in earnings revisions was about to turn, and believes earnings momentum will continue to exert a strong influence on equity markets' performance.
BONDS: Euro-zone government bonds are expected to open little changed as investors ponder whether they want to risk fresh buying with yields already so low.
Euro-zone government bond prices were lower across all maturities late Thursday as equities made solid gains.
Dealers said the top of the bonds market may have been reached and that funds could start to return into equities.
Friday, the euro-zone market is again likely to be influenced by U.S. economic data.
The focus will then be on the consumer price index for July and the consumer sentiment index for August from the University of Michigan.
FOREX: The euro looks to be stuck to the $0.9800 level pending further developments. The University of Michigan consumer data, could be the one to shake the euro loose.
The currency pair show no clear short-term direction on the chart.
The worst floods to hit southern and eastern Germany in a century are likely to have caused damages running into billions of euros that are set to weigh heavily on the country's already stretched budget.
EUROPEAN OUTLOOK: Markets Pause In Search Of Direction
Euro-USD 0.9814 loss 0.0006 dn 0.02%
Stlg-USD 1.5350 gain 0.0001 up 0.01%
USD-Franc 1.4896 gain 0.0001 up 0.01%
ZURICH (Dow Jones)--European shares and government bonds are likely to open little changed, along with a directionless euro.
STOCKS: European shares, unlikely to muster the muscle necessary to repeat Thursday's rallies, are likely to open little changed and drift until U.S. economic figures are released in the afternoon.
European shares ended sharply higher Thursday in a relief rally fueled by the deadline for U.S. companies to vouch for the accuracy of financial statements. But a few dozen U.S. companies had been left behind in the certification process, leaving some doubts in the markets.
While European bourses recouped all of Wednesday's losses, CSFB strategists remained wary about the near-term prospects for equities.
The investment bank said it saw little reason to believe the recent trend in earnings revisions was about to turn, and believes earnings momentum will continue to exert a strong influence on equity markets' performance.
BONDS: Euro-zone government bonds are expected to open little changed as investors ponder whether they want to risk fresh buying with yields already so low.
Euro-zone government bond prices were lower across all maturities late Thursday as equities made solid gains.
Dealers said the top of the bonds market may have been reached and that funds could start to return into equities.
Friday, the euro-zone market is again likely to be influenced by U.S. economic data.
The focus will then be on the consumer price index for July and the consumer sentiment index for August from the University of Michigan.
FOREX: The euro looks to be stuck to the $0.9800 level pending further developments. The University of Michigan consumer data, could be the one to shake the euro loose.
The currency pair show no clear short-term direction on the chart.
The worst floods to hit southern and eastern Germany in a century are likely to have caused damages running into billions of euros that are set to weigh heavily on the country's already stretched budget.