According to the Oslo Stock Exchange is week 30, ie next week, historically the quietest summer week on the stock market.
The public holiday in Norway and the fact that many foreign investors starting their vacations doing their sales figure falls . According to the Oslo Stock Exchange, turnover has tended to fall by around 30 percent in week 30 compared to the daily average turnover is 4.5 billion.
The question is week 30 is equally at ease this year. Both macro news and quarterly results will characterize week thus creating the framework for a whopping summer party for those who do not connect completely holiday.
Next week adds namely several of the largest oil companies presented figures for the second quarter and analysts expect that it will be the best quarter since the second quarter of last year after a turbulent period for the industry.
Since the oil price bottomed out at $ 27 a barrel in mid-January, it has recovered well again and has lately been between 45 and 50 dollars a barrel. Thus, it attached great excitement to how the international oil giants have performed at the top and bottom lines, as well as how they see the future.
First up is BP which presents its figures on Tuesday 26 July and thus laying the guide for how it’s going to go with the rest. July 27th comes Statoil with their numbers, followed by Shell and Total both put forward their numbers the 28.juli. Friday 29.juli there are the American giants Exxon and Chevron to report their numbers.
On the macro front, there are also several potential market drifting events.
Wednesday is the meeting of the FOMC which sets the key rate in the US. Analysts Nordea expects no changes to its guidance, but writes in a note that it will be interesting to hear how they look at the markets and economy after Brexit was a fact.
Many countries also comes with growth figures its other quarter. It applies to both the US, the Eurozone, the UK and Sweden.
Most stress is linked to the United States who had a rather poor first quarter and the eurozone where Nordea is expecting a halving of the growth rate from 0.6 percent in the first quarter. The US GDP growth is expected to be considerably better. Consensus think on an annualized quarterly growth of 2.6 percent.
When it comes to the UK as it is according to Nordea’s not so interesting with the GDP figures as they reflect the British economy before Brexit but points out that figures for konsumertillit and housing prices, which will also be put forward, the more interesting this time as they will provide better indications of future prospects.
the Bank of Japan has monetary policy meeting next Friday, and there is consensus a cuts of ten basis points – to 0.2 percent. Nordea expects the cut is 20 basis points and think the bad economic outlook of low growth, subdued inflation and low demand for loans among companies are arguments that support such cuts.
Sommerfest or not – number bonanza it anyway. Time will show whether investors choose to hold holiday week holidays this year as well, or whether this will be the year when they bid up to dance.
No comments:
Post a Comment