Spreadex Market Update
Europe keeps sliding as UK election and Greek situation impact markets
With the polls veering this way and that, it continues to be unclear who out of the Tories and Labour will be in power come May 8th; either way, the markets haven’t welcomed the reminder on this quiet Monday that it has an election to deal with. Despite Labour’s attempts at portraying themselves as a fiscally responsible party, investors apparently remained unimpressed as the FTSE slipped to around 30 points in losses.
Whilst the mining stocks kept falling after the shocking Chinese export figure last night, estimates that Tesco will report £3 billion in impairment charges sank the stock today, leading it to around 3% in losses as investors once again reminded of the supermarket’s poor financial decision making.
Yet unlike the pound that, regardless of regaining some marginal ground this afternoon, continues to limp around liked a wounded puppy, the FTSE still has healthy growth above 7000, and is still lingering near its record highs.
The Eurozone indices were lacklustre this Monday, slipping to losses as the Greek debt remained the white (and blue) elephant in the room. As youth unemployment remained an unsolved, and worrying, problem for the region, Greece was forced to deny talk of an early election engineered to oust the current Syriza government. Syriza are increasingly being blamed for the failures to ensure some more financial stimulus, and their days may be severely numbered if there is no progress by, or on, the 24th April.
The US markets were the outlier this afternoon, creeping to marginal gains despite the negative trading environment created by Europe. There was little to inspire this growth, but a rather quiet day from the dollar probably helped investors buoy the US markets as their European peers continued to slide.
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.
