Spreadex Market Update
Sterling gains on the dollar
This morning the FTSE 100 is trading up 15 points to 6810.4 recovering from the losses made yesterday. Sterling has gained further on the dollar at $1.625 with the shock news of the Scottish referendum cooling down. However volatility is expected with poll announcements to be made. In contrast to the FTSE 100, European markets are trading marginally lower, with news of economic sanctions on Russia over Ukraine, the DAX falling 22 points to 9658.5.
Equities are relatively stable with the biggest risers being Alent and Evraz up 2.3% and 3.2% respectively. Evraz gaining from an increase in the price of Uranium due to the unresolved Russian regulations on the mining industry from the EU. The biggest loser on the London Stock Exchange is Aveva Group down 20.6% to 1722.0 down 444.5, slumping the most in 16 years as an announcement that currency fluctuations has damaged their first half performance.
Taking a look ahead, talk of the Federal Reserve potentially taking a more hawkish approach to its policy could create injections into the dollar.
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