Spreadex Market Update
European markets lose lustre whilst cable falls following last night’s Fed meeting minutes
Avoiding the kind of declines seen in the Eurozone the FTSE managed to hold onto its title as the day’s best performing major index, though it came to mean little as the morning continued. A gradual shrinking of Brent Crude’s gains caused the oil sector to soften up, whilst the mining stocks suffered as copper slipped below $2.11 per pound.
Not that it was all bad news; Marks & Spencer held onto its post-update, start of Steve Row-era gains, whilst home furnishings firm Dunelm jumped by nearly 4.5% thanks to a stellar set of third quarter figures. Sainsbury’s, meanwhile, rose around 2% as it revealed the latest step in customer-friendly focus, ending its price match scheme to instead cut the price of everyday items like bread and cleaning products.
Helping drag the European markets lower is the prospect of an 70 point fall when the Dow Jones opens this afternoon, with investors arguably reacting poorly to last night’s Fed meeting minutes. For whilst an April rate rise seems firmly off the table, the fact that there appears to be a slight increase in the number of hawks in the central bank (with some members open to an April hike) may have spooked investors, whilst boosting the dollar against an already weak pound, cable falling nearly half a percent as the morning continued. There is little on the agenda this afternoon (bar the usual Thursday jobless claims) to shift sentiment, the day’s main event a panel including Janet Yellen and her former Fed chair colleagues Ben Bernanke, Paul Volcker and Alan Greenspan later this evening.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
DISCLAIMER
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.
