European stocks consolidate with a mid-day rebound
The main European indices have rebounded around 1% in the middle of the trading day, recovering from the falls of the last two days. They are unmarked by the negative closings of the Asian stock markets yesterday, where the Hong Kong Stock Exchange lead (-2%). The DAX index that registered the greatest increases after 12 hours, being (1.5%), followed by the CAC 40 (1%) and the IBEX 35 (0.9%).
The latest corporate news seems to have buoyed investors, who are temporarily putting aside fears of the runaway wave of Covid-19 infections across Europe. Among this news, the results from Swiss bank UBS stands out. In 2020, it registered a net profit of 6,629 million dollars, 54% more than in 2019. Only in the fourth quarter of 2020 has the financial entity managed to increase its profits 136.6% compared to a year earlier.
UBS shares are up 1.7% on the Swiss Stock Exchange and 1.8% in pre-opening trading on Wall Street.
Source: Admiral Markets MetaTrader 5. UBS CFD weekly chart. Data range: from June 14, 2015 to January 26, 2021. Prepared on January 26, 2021 at 12:30 p.m. Keep in mind that past returns do not guarantee future returns.
As we see in the CFD chart for UBS, the Swiss bank's stock has regained ground since the fall to lows last March, due to the outbreak of the coronavirus pandemic. However, it is still far from the highs of 2015 or 2018.
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