Financial Markets Daily Report 09 novembre 2020
Markets ended last week on a high note on Friday as it became apparent that the US elections were nearing a result. The S&P 500 gained 7.3% over the week and US sovereign yields rose sharply. The election result was finally called on Saturday, in favor of Joe Biden, but Donald Trump announced that he would contest the results.
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- Markets ended last week on a high note on Friday as it became apparent that the US elections were nearing a result. The S&P 500 gained 7.3% over the week and US sovereign yields rose sharply. The election result was finally called on Saturday, in favor of Joe Biden, but Donald Trump announced that he would contest the results.
- Despite falling on Friday, European stocks closed their best weekly performance since June. Eurostoxx50 was down 0.4% on Friday but up 8.3% on the week. Data released on Friday showed that German industrial production had risen by 1.6% in September, below market expectations.
- In FX markets, the dollar fell 0.4% against the euro on Friday, and was down 1.9% on the week. The British pound, on the other hand, gained 0.3% against the euro as hopes of a Brexit deal rose.
- In oil markets, the barrel of Brent fell 3.6% on Friday to $39.5 on downbeat growth expectations.