European equity markets posted fresh losses in today’s trading session, as risk appetite remained limited while market sentiment was fairly dull due to the absence of key macroeconomic indicators. The CAC, DAX, IBEX and London equity benchmark retreated sharply between 0.45% and 1.5%, while the Dow Jones index extended losses towards 16,300.
Poor corporate earnings results from IBM set a bearish tone across the global equity markets. IBM shrunk nearly 7% to show its biggest decline in four years after abandoning an earnings forecast for 2015. However, both the S&P 500 and NASDAQ indices managed to hold in positive territory for the day.
Gold outperformed today and climbed more than 0.5% towards $1250/per ounce, while silver surged over 0.7% to retest $17.50. Fresnillo gained 0.63% following a rebound in precious metal prices.
The UK banking sector and real estate companies posted fresh gains in today’s session. Land Securities rose over 1.10%, while Barclays, RBS and Lloyds gained between 0.10% and 2.46%. However, HSBC missed the uptrend and slid lower by 1.04%.