Spreadex Market Update
Asian shares closed slightly lower
Asian shares closed slightly lower on Tuesday as investors risk appetite shifts ahead of the two-day Federal Reserve which begins today. There has been lots of speculation amongst investors that the Fed could have a particularly hawkish outlook and many expect to see an announcement on future interest rates.
We got off to a busy start to the week yesterday with M&A causing the biggest movers in the market. France’s Orange reported yesterday they have agreed a deal to purchase Jazztel, a Spanish telecommunications operator. SABMiller also gained, jumping over 13% as reports broke that Anheuser-Busch Inbev are in talks with banks for a potential deal to purchase the brewing company. Some of these gains were given back not too long after the spike as news surfaced AB Inbev aren’t actually in talks with banks.
Looking at European bourses, they look set to open mixed with London’s FTSE set to open 6 ticks higher whilst Germany’s DAX is set to open 11 points lower. Participants should expect markets to behave slightly different ahead of the Feds meeting as the markets begin to price in the expected hawkish outlook.
We have a relatively busy economic calendar released today, kick-started at 9:30am by UK inflation data shortly followed by German ZEW economic sentiment at 10:00am. Over in America, PPI data will be released at 13:30BST.
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