Spreadex Market Update
FTSE bounces back from 3 year lows ahead of UK inflation data
As it has done throughout 2015 the FTSE suffered more than most under the continued commodity collapse, hitting a 3 year nadir as its weighty oil and mining stocks produced a near insurmountable drag on the index. Tuesday has seen the FSTE begin to bounce back, however, jumping over 50 points after the bell; still not enough to see the index cross the 6000 mark, but a start nevertheless.
Today, at the very least, shouldn’t just let investors wallow in the commodity misery, with the UK’s latest inflation figures provided somewhat of a distraction away from Brent Crude’s tricky trading. Investors are expecting 0.1%, rising from last month’s -0.1% to edge into positive territory for the first time since the numbers announced back in August.
Hitting its own 8 week lows the DAX wasn’t in the best form on Monday, shedding 200 points as the European markets gave in to pre-Fed nerves and commodity fears. The German index and its French counterpart have lifted away from their lows this morning, the DAX and CAC increasing by 100 and 60 points respectively as investors await Tuesday’s German and Eurozone-wide ZEW economic sentiment figures. The former is expected to continue its nascent recovery after hitting VW-inspired lows back in October, analysts looking for 15.2 against 10.4 last month; the latter, which took an unanticipated tumble in November, is expected to rise back to 34.4 from 28.3.
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