Spreadex Market Update
European bourses stay in positive territory
The Dow Jones has traded relatively flat from its opening level this afternoon after the futures advanced over 60 points. European bourses have also managed to keep in positive territory despite falling off the highs seen with the ‘relief rally’ caused by the no vote winning in the Scottish Referendum.
GBP/USD has fallen from its highs that were seen in the early hours of this morning, despite the no campaign winning. Cable is currently trading around $1.6320, falling slowly throughout the day. The pound managed to slowly strengthen over the past few days as the market priced in the increased possibility of a no vote.
Alibaba has floated this afternoon, becoming the biggest ever IPO. Just prior to the European close, Alibaba is yet to trade however has a latest indicative price of $91-$92 – smashing the price placed on the stock on Thursday night of $68 a share.
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