Spreadex Market Update
Fretful start to final week of January sees European indices post early losses
With the European indices already losing whatever green glow their futures had acquired, failing to capitalise on last Friday’s week-rescuing surge, it looks like investors are in store for another long day. The seemingly fretful nature of investors this morning is likely to only be exacerbated by a general lack of data, with the day’s main event, a speech from Mario Draghi in Frankfurt (with the markets likely hoping for a few more stimulus hints from the golden-tongued ECB President) not arriving until the early evening.
The FTSE initially looked set to open around half a percent higher, creeping towards the 6000 mark as Brent Crude hit a 2 week high on the cold snap (to put it mildly) currently coating the USA’s east coast. Yet oil’s gains couldn’t last beyond the Asian session (Brent Crude now falling by nearly 1.5%), in the process wiping away whatever nascent growth the UK index had managed just after the bell to instead leave the index in the red by around 15 points. Beyond the market’s general bearish tone there is little for the FTSE to deal with this Monday, the morning’s CBI industrial order expectations (forecast to fall to -10 from -7) the only figure of note.
The Eurozone indices looked even shakier than their UK counterpart, the DAX tumbling around 35 points with the CAC slightly better at a 20 point fall. As mentioned the main focus of this Monday will likely be on Draghi’s speech this evening, leaving a long gap to fill in the meantime. Providing a slight distraction will be the German Ifo business climate figure, expected to fall to 108.5 from 108.7 last month, alongside the latest Italian retail sales, forecast to jump from -0.3% to 0.2%.
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.
