Spreadex Market Update
European shares snap a winning streak
European shares snap a winning streak, dragged lower following a number of disappointing updates from blue-chip companies. Rolls-Royce and Tate & Lyle battled for the worse FTSE 100 decliner, with shares in RR dropping 16 percent after it emerged US and European spending cuts would halt profit growth in 2014. Tate & Lyle dropped 15 percent after the sweetener-maker warned on profits, blaming weak sales in developed markets. Shares in Nestle also dropped 2.1 percent after it released a warning that it may undershoot its long-term growth targets again this year due to weakening demand from emerging markets.
A report from the US Commerce Department released today showed that retail sales fell by 0.4% last month. The figure, with many expecting a 0.3% increase adds to further negativity today with retail sales making up 2/3 of the US GDP. Unemployment Claims also performed marginally worse than expected with claims increasing 8,000 since last week.
US futures are indicating a 100 point lower open as investors digest the latest economic releases and corporate earnings. Cisco Systems and Whole Foods dropped 4% and 9% during pre-market trading following a miss in earnings whilst Time Warner Cable was up 11% after Comcast Corp agreed to acquire the cable company for $45.2bn.
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.
