Spreadex Market Update
Markets plunge as macro-fears return to the forefront of investors’ minds
Sinking by nearly 100 points the FTSE fell past the 6000 mark this morning as Brent Crude lost another 3% on its journey back towards $33 per barrel. Of course adding to the UK index’s woes was BP’s disastrous full year results; posting its worst annual loss for two decades, the oil giant not only dropped a whopping 8% but caused Shell (which reports on Thursday) to fall nearly 2.5% on fears of the state of its own figures. The rotten icing on top of the FTSE’s bitter cake was an underperforming construction PMI, coming in at a 2 month low of 55.0 against the 57.6 forecast.
Despite a strong morning for jobs data, with the region-wide unemployment figure falling to a 4 year low of 10.4% (inspired by Germany’s own record low rate of 6.2%), the Eurozone was similarly sour this Tuesday. The DAX, boosted by its unemployment figures, fell a mere (!!!) 1%, whilst the CAC plummeted by 1.8%, making it the morning’s worst performing major index.
With little left on the agenda this Tuesday it is down to the US markets to lift the mood this afternoon; however, with the Dow futures pointing to a 130 point plunge at the open the chances of a change in sentiment at looking rather low.
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.
