DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

European Indices Sink, Led by Banks

EQUITIES
  • European cash markets opening broadly lower, sliding in line with their US equity future counterparts as the concern over contagion risk surrounding Silicon Valley Bank continues to pervade through markets.
  • No surprise to see the European financials sector at the bottom of the pile in the Stoxx600, with the EuroStoxx Bank Index gapping lower to fully erase the 7% rally posted since the start of February. Single names seeing particularly sharp losses include Deutsche Bank, Commerzbank and ING, all of which trade lower by 5% or more in early deals.
  • Volumes are sizeable - the open saw over 30,000 contracts in Eurostoxx futures change hands in the first five minutes - the third most active open in the contract of the year (behind only Feb27, Feb14).
  • The headline H3 EuroStoxx future sees next support at 4180, the Mar02 low, a break below which would expose the 50-day EMA at 4167.40.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.