Spreadex Market Update
Turkey/Russia jet shooting causes sharp, market-wide, declines
Despite a better than expected German Ifo business climate figure the DAX soon fell to a 130 point loss in the aftermath of the incident, whilst the CAC plunged to a near 2% decline. The Russia/Turkey altercation seems to have merely intensified the market fears that have been bubbling under the surface since the tragic attacks in Paris a week and a half ago.
Even with the (admittedly shrinking) rebound from Bent Crude and copper the UK index’s oil sector and the majority of its major mining stocks remained in the red. This meant that, combined with the extra dose of bearishness and a CBI realized sales figure that not only vastly underperformed expectations but hit a 9 month low in the process, the FTSE slumped by over 70 points as Tuesday continued.
Currently down by around 70 points it doesn’t look like the Dow Jones will be helping matters this afternoon. Of course that could all change, with the US seeing its preliminary Q3 GDP and goods trade balance before the bell. The former is forecast to improve from 1.5% to 2.0% since the initial estimate, whilst the latter is expected to widen to a $61.8 billion deficit. How the US markets react will be interesting; yesterday’s 2 year manufacturing low lifted the Dow after a limp open, so any negative fluctuation around those estimates could see the index edge into the green.
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.
