(MENAFN– ecpulse)
European stocks were trading mixed early hours Wednesday as risk of an immediate strike on Syria faded, especially after President Obama said he will work with allies and postponed a decision on military action against Syria.
The market tension eased over the risk of war in the Middle East, especially with Syria accepting the Russian proposal to handover its chemical weapons, the matter that seemingly is for now accepted by the United States. President Obama said in a televised address to the American people yesterday that he will work with allies to force Syria to handover its weapons, and even if he has voiced skepticism, it still gives breathing space for markets for now!
- STOXX 600 is trading nearly flat down 0.02% at 309.74
- STOXX 50 trading lower by 0.11% at 2848.27
Markets chatter is shifting from war-drums to company results, M&A and a looming Fed decision on stimulus.
Apple Inc. is now the main talk of the market after the release of two new IPhone models that failed to impress. $AAPL shares slumped yesterday to settle lower by 2.28% at $494.64 although managed to trim some losses after trading as low as $489.50 as the release of the new IPhone models disappointed.
Investors assessed the pricing of the cheaper new IPhone 5C still expensive to tract traction in emerging markets, and will only dethrone the luxurious image of the company for now.
Apple Asian suppliers shares slumped Wednesday as the release of the two new models IPhone 5C and high-end IPhone 5S failed to impress. To the contrary shares of European ARM Holdings an Apple supplies, surged opposed to the sentiment following the release for Apple and Asian suppliers. ARM Holdings shares surged 5.47% to trade at 992.50 GBp .
-DAX is trading higher by 0.28% at 8470.22
-CAC 40 is trading lower by 0.24% at 4106.98
-FTSE 100 is trading lower by 0.15% at 6574.05
-FTSE MIB is trading higher by 0.79% at 17468.77
-IBEX 35 is trading little changed higher by 0.06% at 8807.00
Choppy trading is likely to prevail today as the sentiment shifts again away from Syria tension gradually again toward the economy and monetary policies with Fed tapering expectations likely to resurface again ahead of the FOMC meeting next week.
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