Stock markets uncertain ahead of US unemployment figures

European stock markets started today's session mixed after a mostly negative asian trading session which saw Nikkei, Kospi and Chinese indices trade lower. Sentiment was also impacted in Europe after new data showed a 29% YoY drop in European new car registrations in October, to 798,693 vehicles, a record low reading for the month. Sales of Volkswagen (VOW1.DE) dropped almost 42% YoY, sales of BMW (BMW.DE) dropped 22% YoY while sales of Daimler (DAI.DE) were 34% YoY lower. Furthermore, rising inflation continues to be a key topic of discussion and investors await more information from central bank members who have mostly downplayed the matter as "transitory" despite data showing a sustained increase. Finally, today's US unemployment figures could be significant since the Fed has stressed the importance of the job market and said it would predominantly use it as a measure of when to potentially implement monetary and fiscal policy changes.

Jet2 mixed results highlight struggles of travel sector

Jet2 posted mixed results today, highlighting the somewhat improving conditions of the travel sector after what has been a very challenging time due to lockdowns, restrictions and overall economic instability. While the company managed to increase its liquidity, the group's operating loss also increased and despite some reassurance from the board, rising fuel prices and the competitive pricing environment continue to be worrying factors for the company and industry as a whole heading into the final part of 2021.

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Walid Koudmani

Market Analyst working in UK-Italian-Arabic markets covering a broad range of assets including stocks, commodities, FX and crypto. English, Italian and Arabic Speaker with a B.A in Business Management. Quoted in many prestigious publications including the Guardian, Barrons and Lefigaro and winner of bloomberg top forecast rank Q-2/Q-3 2020.