Spreadex Market Update
European stocks continue to trade
European stocks continue to trade deep into the red, erasing early gains with the FTSE trading over 100 points lower. With many believing yesterday’s declines were overdone, investors tried to push the markets higher on the open. However, the bears took over, sending markets plummeting. European stocks dropped to fresh one-year lows with the benchmark index posting its longest slump in 11 years. World growth concerns continue to rattle global markets, sending investors to the side-lines and dumping as much risk as possible.
Crude oil was again under heavy selling pressure with WTI heading towards the $80 a barrel for the first time since June 2012. Rising US supplies are intensifying a global glut, sending prices lower. Brent fell to its lowest level in nearly four years, breaking the $84 mark.
Shares in Shire were again deeply underwater today, dropping another 12% after it emerged AbbVie board have decided against the £32 billion takeover deal. Shares dropped over 25% yesterday on the news and despite recovering from the lows to close at £40, shares have since dropped to £35 today.
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.
