Spreadex Market Update
Asian shares have traded little changed overnight
The White House has warned that whilst the U.S are no longer on the brink of military intervention in Syria, a diplomatic solution will take “some time”. Obama has pledged to pursue talks despite scepticism from U.S. lawmakers that Damascus would make good on a Russian plan to surrender its chemical weapons.
There is a suspicion that with no other major catalysts to spark further gains or trigger a sell-off, investors may decide to hold fire until the Federal Reserve meeting due to be held next Tuesday-Wednesday. The Federal Reserve has said any reduction in stimulus will be tied to a sustained recovery in U.S. employment. The majority of economists surveyed believe the central bank will decide to cut its $85 billion in monthly bond purchases when it meets Sept. 17-18.
Britain embarked on its largest privatisation in decades when it said it would float the majority of the near 500-year-old Royal Mail postal service. The government said a stock market flotation would take place in coming weeks but it said the size of the sale would depend on market conditions.
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