Spreadex Market Update
Markets open in the red as oil wariness and Greek-saga take their toll
However, the lack of progress in negotiating a deal, something that looked so promising at the start of the week, has taken its toll on the markets with bullish oil news locking horns with the bearish Greek situation for market domination.
Officials from the US Treasury travel for talks in Greece today; whilst support from America would bolster Syriza, it is not the kind of support they need. The press conference after the Varoufakis/Schauble summit effectively captured the schism that is arising in the Eurozone, and even though Syriza have maintained their swell of support in-country, they are facing ever-growing pressures to deliver results.
As Hollande and Merkel travel to Ukraine to address one of the other major issues plaguing the Eurozone, German industrial production fell, continuing a very mixed week for the region. With the dampened spirits across the Eurozone, it seems inconceivable that it was the start of this week that the DAX hit new all-time highs.
Despite Brent Crude once again reaching $57 per barrel, and copper aiming for it seventh day of consecutive gains as it continues to try and recover the heavy losses it has seen since the start of 2015, the FTSE couldn’t escape a limp open this morning as investors remained wary of the sustainability of oil’s rise. There was good news for Poundland, as the announcement that the bargain chain is to buy rival 99p Store saw the stock grow by nearly 7% as it increases its high-street supremacy.
Things may change this afternoon as the US non-farm employment change figures are released; forecasts are suggesting a decline, but these predictions have missed the targets for the past 6 months, so the markets could be in for a pleasant surprise. Yet regardless, the Dow Jones is still aiming for its best week in nearly 3 years as the US markets were boosted by Twitter’s 97% rise in revenue and the subsequent share price gains. However, the all-important user growth figure slipped below expectations in an ominous sign for the social-media platform.
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.
