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The End Of Q2 – Shares and Stock Markets Looking for Direction

After the closing Q2 with the most significant rise since 1998, predictions regarding shares, Forex and stock market are mixed but rather upbeat. Very optimistic Chinese PMIs are offsetting coronavirus concerns.

At the end of the second quarter, gold has an outburst, going above $1,780, which is its highest level since 2012. Gold is holding onto the gains benefiting from the end of the second quarter flows.

The New York Stock Exchange is evolving without a clear direction at the start of the session despite on Tuesday. The Conference Board announced a confidence index significantly above expectations.

Nearly an hour after opening, the Dow Jones stock market fell 0.1% to 25,562.6 points, while the Nasdaq Composite rose 0.7% to 9,943.8 points.

The Conference Board’s US consumer confidence index rose to 98.1 this month, from 85.9 in May, while economists expected it to increase slightly less towards 91, 8.

This good figure – which feeds the relatively optimistic scenario of a ‘V’ recovery, has had little effect on the major Wall Street indices.

 Dow Jones and the Nasdaq opened the session divided between the operations of balance sheet wrapping at the end of the quarter and the absence of reassuring information on the front of the pandemic of coronavirus, which has further aggravated in recent days.

Over the second quarter as a whole, the S&P 500 showed an increase of more than 18.5%, its best quarterly performance since 1998.

Meanwhile, the dollar is recovering sharply to 1.1215 euros, which seems to indicate that traders do not expect announcements of additional support measures from Jerome Powell.

European Share Market Indicators To Follow

Let’s take a look at some indicators related to big companies’ in European share market.

AIRBUS announced Tuesday its intention to cut around 15,000 jobs by the summer of 2021as part of a restructuring plan to deal with the air transport crisis caused by the epidemic due to the new coronavirus.

AMUNDI announced Tuesday that it has completed the acquisition of the Spanish Sabadell AM and launched its long-term partnership with Banco Sabadell in Spain.

SOCIÉTÉ GÉNÉRALE has announced the acquisition of Shine, a “neobank” specializing in the self-employed and small businesses, without revealing the amount of the transaction, simply specifying what would have a “non-significant” impact on its solvency ratio CET1.

WIRECARD – The group administrator, who filed for bankruptcy after an accounting fraud, said Wednesday that he had received expressions of interest in the assets of the payment specialist and indicated that he would soon mandate banks for the sale of certain assets.

 ADIDAS announced Tuesday evening the resignation of its director of human resources after a group of employees requested the opening of an investigation into her attitude towards racism within the company.

EUROFINS SCIENTIFIC announced Wednesday the launch of an antibody detection test based on serology for the indirect diagnosis of past exposure to COVID-19.

Cryptocurrencies

Regarding cryptos, the market has shown signs of consolidation this week. Cryptocurrencies are currently coping with choppy markets. Monero is one of few if not the only crypto in the green at this moment.

Bitcoin has slightly changed daily, and since Wednesday due to the inert market activity, BTC/USD glued to $9,150. BTC/USD has been in tight reins since the beginning but now is moving on within a short-term bearish trend throughout high volatility. The market capitalization of Bitcoin settled at $168.8 billion, while its shares registered at 64.9%.

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