European Stock Markets Opened Up
European stock exchanges; Improvement in German exports. European stock markets opened up against the backdrop of positive sentiment from last night on Wall Street: the German Dax index is up 0.9%, the French Kak is up 0.6%, Potsey is up 0.3%. In Frankfurt, with the exception of Daimler (Mercedes), all Dax shares are green. In Paris – Airbus strengthens by 1.4%, Peugeot by 1.1%. In London – EasyJet is up 1.7%, IAG (the parent company of British Airways) is up 3%, Rainier is up 2.8%.
Exports in Germany continue to recover above forecasts, but at a slower pace than in previous months – climbed 2.4% in August compared to July. The increase was 1.3% in August compared to July. In February, before the crisis began, exports jumped 9.9%. Imports climbed 5.8% in August.
British airline EasyJet expects to post a pre-tax loss adjusted in the fiscal year ended September, and even halt dividends: According to low-cost forecasts, the loss will be in the range of £ 815-845 million (or $ 1.05-1.09 billion) ). This is compared to the profit that EasyJet recorded in the fiscal year of 2019, at 427 million pounds. Analysts expect a smaller loss of £ 745.9 million, compared to expectations from the company.
The number of passengers fell by 50% to 48 million, in the fiscal year of 2020, in accordance with the reduction in the number of flights and therefore in the number of seats. The company noted that in line with current restrictions, it expects the first fiscal quarter of 2021 (current quarter) occupancy of 25%. EasyJet said it would allow for greater occupancy if demand increased.
EasyJet reports that bookings for flights in the summer of 2021 (in the last quarter of the fiscal year of 2021 – the current one) are similar to those before the Corona crisis.
Japan’s central bank takes a more optimistic approach, yet cautious about the country’s exit from the crisis – raised its forecasts in 8 of the country’s 9 regions, but at the same time announced a slow recovery. Only Shikoku Island has yet to embark on a journey out of the crisis, according to the bank, which added that the economic situation in Tokyo and its environs has already “begun to raise its head, but is still in a serious state,” as have other regions in the rising sun.
Editor’s note: This article is for reference only and does not constitute an offer, or invitation, inducement, any representation regardless of type or form, or make any suggestions and recommendations. Readers should use their independent thinking ability to make their own investment decisions If any losses are incurred due to the relevant recommendations, it has nothing to do with istanbulpost.com.tr , the editor and the author.
European Stock Markets - /10