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Monday 20.08.2018 | Name days: Bernhards, Boriss

Stock exchange indexes showing varied trends; oil prices decline

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUStock exchange indexes in USA and Europe showed varied trends on Monday, 16 July. Bank profit rise was reported for Q2.

Markets took notice of the meeting between US President Donald Trump and Russian President Vladimir Putin in Helsinki, Finland. Although Trump’s decision to refrain from criticizing Putin earned him sharp criticisms, it did not affect stock markets much, as concluded by Briefing.com.

London and Paris stock exchange indexes declined at European stock markets. Frankfurt stock exchange index grew. Dow Jones Industrial Average index grew slightly at US stock exchange. All other indexes declined.

Bank of America reported that profits in Q2 were better than expected. This is thanks to lending increase and lower taxes. The price of this bank’s shares grew by 4.3%. JP Morgan Chase and Citigroup share prices grew by approximately 4% even though prices had previously declined on Friday, 13 July.

Share price of Germany’s largest credit institution Deutsche Bank grew by 7.2% at Frankfurt stock exchange after the bank’s profits had significantly exceeded analysts’ outlook for Q2.

Oil prices at New York and London stock exchanges declined significantly, which was caused by concerns about factors associated with over-production. Among them was Libya’s restoration of oil export, news that USA may use its strategic oil reserves to reduce prices, as well as the assumption that Trump’s administration may make an exception in relation to Iran’s oil procurement ban.

WTI brand oil price at New York stock exchange declined on Monday to 68.06 USD/barrel. Brent brand oil price at London stock exchange declined to 71.84 USD/barrel.

US stock exchange index Dow Jones Average grew on Monday to reach 24,064.36 points, Standard&Poor’s 500 index declined to 2,798.43 points, and Nasdaq Composite index declined to 7,805.72 points.

London stock exchange FTSE 100 index declined to 7,600.45 points, Frankfurt stock exchange index DAX 30 grew to reach 12,561.02 points, and Paris stock exchange index CAC 40 declined to 5,409.43 points.

Euro value towards US dollar grew on Monday from 1.1685 to 1.1712 USD/EUR, British pound sterling value towards US dollar grew from 1,3222 to 1.3237 USD/GBP, and US dollar value towards Japanese yen declined from 112.38 to 112.27 JPY/USD.


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