Spreadex Market Update
Markets tentatively post gains after Tuesday’s sell-off
Despite edging into the green after the bell, with little in the way of significant data until tomorrow the FTSE is likely going to have to combat the same demons as yesterday: the Greek situation in the Eurozone, Cameron’s own EU adventure and the prospect of the stronger dollar. The state opening of parliament could also be a market mover; despite many of the Tory policies being known entities, the Queen’s speech could cause some changes if more details are revealed on the EU referendum and housing plans, amongst others.
With a better than expected Gfk German consumer climate figure getting the DAX off to a good start, the Eurozone attempted to take back some its losses after the open. Whilst the region’s indices are currently trading higher, there is realistically no difference between yesterday and today; both had little news to distract from the ongoing issues with Greece, and with time running out the debt saga is likely to dominate once again.
After confusion over whether a meeting in Brussels went ahead or not yesterday, today should see an actual face to face discussion between each side of this debt debate. Who takes part in these meetings could be key; Jean-Claude Juncker only yesterday claimed that Yanis Varoufakis had hindered the progress of a potential deal. The Greek finance minister remains an unwelcome wild card in the attempts to broker a solution despite his reduced negotiating role.
It was good craic for Aer Lingus and IAG this morning, as the Irish government agreed to sell its 25% stake in the former to the latter with a €1.36 billion takeover of the airline talked of as the next step. IAG and Aer Lingus have a storied history, with the latter rejecting two takeover bids from the former in 2014. However the backing of the Irish government, and the Aer Lingus board, could see a different outcome this time around; investors on both sides of this deal were seemingly please, with IAG up around a percent whilst Aer Lingus shot up 2% after the bell.
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.
