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.
With an Admiral Markets Trade.MT5 account, you can trade Contracts for Difference (CFDs) on UBS and over 3,000 stocks! CFDs allow traders to try to profit from both bull and bear markets, as well as profit from the use of leverage. Click on the following banner to open an account today:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following:
- This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
- Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
- With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
- The Analysis is prepared by an independent analyst, Carolina Caro, analyst, (hereinafter “Author”) based on their personal estimations.
- Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
- Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
- Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
