Spreadex Market Update
Markets start Monday with a yawn as British business confidence hits 3 year low
Opening to the news that British business confidence has hit a three year low due to the dual pressures of the rocky global economy and the seemingly growing threat of a Brexit, the FTSE just about managed to brush off that setback, opening around 20 points higher. However, there little to really suggest, for the moment at least, that the index is going to recover last Friday’s losses as the day continues. If Brent Crude can rebound back to the $35 per barrel things may improve, but for now, with the commodity lingering at around $34.40, it is hard to see where the stock-lifting sentiment is going to come from this Monday.
Things weren’t much different in the Eurozone; both the DAX and the CAC started the day with a yawn, gradually edging into the green as the open receded into the distance. And with only the region wide Sentix investor confidence to come later in the day (expected to fall to 7.2, its lowest point for 13 months) it appears that the Eurozone is going to have the same issues as the FTSE this Monday in terms of gaining any positive traction.
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