Spreadex Market Update
Equity markets have now gone some way to reverse earlier losses
Equity markets have now gone some way to reverse earlier losses and are staging an assault on yesterday’s highs ahead of the Fed minutes. In spite of sellers seeming to have the better of things this morning, the US open has brought with it a reinvigorated appetite for risk. The S&P 500 gained 0.35 per cent to close in on all-time highs, a move that sends a bullish tone through most dealing desks. The FTSE 100 is some 10 points higher from yesterday’s close, now 40 points higher than lows printed earlier in the session.
Helping things along was a rumour that bankers are working on a deal to sell MRW.L to private equity funds, sending the shares up over 4 per cent shortly after the story broke. The market is normally very quick to adjust prices in line with new information, with MRW.L story being no different today. Traders will watch volume and price action carefully to gather the full impact by the European close.
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