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European stocks heading for a weak opening

European equities are likely to fall on Thursday as investors are worried about China’s debt problems in the real estate sector and react to the latest set of earnings results from the United States.

Tesla’s third-quarter earnings were better than expected, but IBM reported lower earnings than analysts expected after Wednesday’s Closing Bell.

Asian market After the collapse of the asset sale at the embarrassed developer Evergrande, they gave up early profits and traded mixed.

A heavily-debt developer at the heart of the credit crunch in China’s real estate sector has announced that it has not signed a deal to sell its $ 2.6 billion stake in the real estate services sector.

The latest setback occurs shortly before the expiration of the 30-day grace period for Evergrande to pay $ 83.5 million in offshore bond coupon payments.

Statements from other real estate developers have also exacerbated investors’ concerns about transmission.

Chinese Estates Holdings Co., Ltd. announced that it will record a loss of $ 29 million this year due to the sale of bonds issued by Kaisa Group, a real estate development company.

Modern Rand has withdrawn plans to seek permission from its debtors to allow Chinese real estate developers to delay the repayment of $ 250 million in bonds.

Gold rose as the dollar weakened, and oil gave up its early rise due to rising inflation and risk concerns from China’s real estate sector.

UK and UK public sector financial data jobs The results of the confidence survey from France, scheduled for the second half of the session, mark a bright day for European economic news.

Across the Atlantic, transactions can be affected by weekly unemployment claims, existing home sales and reactions to reports on key economic indicators.

As traders responded positively to another batch of bright corporate earnings news, ignoring the Federal Reserve Board’s Beige Book report that labor and supply shortages are cramping the United States. U.S. stocks rose sharply overnight Economy..

Both the Dow and S & P 500 rose about 0.4%, while the tech-heavy Nasdaq Composite fell slightly.

The European market hit a six-week high on Wednesday as the third-quarter earnings season began.

The Pan-European STOXX 600 rose 0.3%. Both the German DAX and the UK FTSE 100 rose slightly, while the French CAC 40 index rose 0.5%.

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European stocks heading for a weak opening

Source link European stocks heading for a weak opening

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