World share markets shuffle sideways as investors look ahead to key central bank meetings next week. Read more here:
London — World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower.
“There is a massive discrepancy where policy rates are and where inflation is [in Turkey], so the question is how do you square that circle?” said Matt Vogel, a portfolio manager at FIM Partners in London. Traders and analysts expect the European Central Bank to raise its benchmark rate by 25 basis points next week, but what comes after that has been up for debate in the wake of the recent dovish tone taken by the central bank’s policymakers.
“However, the consumer already appears to be losing momentum. Moreover, there is no evidence as of yet that the property slump is bottoming out ... we anticipate that fiscal stimulus will focus on local governments.” US futures were pointing down after Netflix’s second-quarter revenue numbers fell short of estimates and electric carmaker Tesla’s gross margin also failed to excite.
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