Spreadex Market Update
Equities open weaker
The FTSE 100 traded some 15 points lower on the open, led by BT on deteriorating earnings. But prices do seem to be supported in early trading, as another sharp drop in prices looks to have been avoided for now.
One problem for equity investors is that the increased volatility common to this crisis could be perceived to chew through their incentive to provide liquidity, much the same as this time last year.
And if liquidity dries up moving into August, prices are open to being driven by much less than in normal conditions, compounding fears of volatility.
ARM Holdings trades higher today after Q2 results are announced as being in line with market expectations, something to be taken as a positive given the recent weak price action. ARM trades higher by 4.3% at 505p.
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