Earnings in focus amid global growth fears

Earnings in focus amid global growth fears

Market focus is largely attuned to another batch of earnings results on Friday, after a turbulent week of trading worldwide.

Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields and economic concerns in Italy.

In Asia, stocks tumbled to 20-month lows on Friday. MSCI’s broadest index of Asia-Pacific shares, excluding Japan, dropped 1 percent. The losses came despite a bounce on Wall Street overnight, though Amazon and Alphabet Inc both fell sharply after the closing bell following disappointing quarterly results.

Back in Europe, investors were likely to closely monitor third-quarter results from Royal Bank of Scotland, Caixa Bank and LafargeHolcim on Friday morning.

On the data front, Germany and France were both set to publish consumer confidence data shortly before the opening bell. Meanwhile, Russia’s central bank is set to announce whether interest rates will change at around 11:30 a.m. London time.

— Reuters contributed to this report.

Leave a Reply

Your email address will not be published. Required fields are marked *