Spreadex Market Update
Asian stocks advanced to start the month in a positive light
Asian stocks advanced to start the month in a positive light as investors weighed whether Chinese policy makers will add stimulus following a report that showed manufacturing slowed more than forecast. With Friday’s Wall Street cheer, this helped Asian stocks offset the lacklustre manufacturing data. Gains were also capped as investors kept a close eye on the depending crisis in Ukraine.
UK stocks are indicating a slightly higher open whilst many keep a close eye on events in Ukraine. The FTSE is indicating a 10 point higher open to 6816, to start the data heavy week on a positive note.
The euro touched a fresh one-year low ahead of Thursday’s European Central Bank meeting. Inflation in the euro zone shrunk to a fresh five-year low of 0.3% in August, well below the ECB’s “danger zone” of 1%. This could play a significant turning factor in Thursdays press conference which could show how ECB president Mario Draghi plans to tackle the hesitate economy.
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