Spreadex Market Update
Lloyds, British gas, British petroleum and Standard Chartered & more announce results today
Yesterday’s trading saw Europe and the US have a mixed day as investors cooled off after lasts weeks bullish performance, this led into last night’s trading on the Asian markets. Speculation around the FOMC and Bank of Japans announcements has created uncertainty within the market. Investors believe that the BoJ is under pressure to act, as retail sales results came in last night at 2.3% well above the predicted 0.9%. The decision the bank has is to either extend its asset purchase programme and to implement a sales tax hike or pull the trigger on them. Consequently the Nikkei was pretty flat last night closing down 0.2% at 15,363 as investors ponder on the BoJ’s next move.
Major European bourses are looking to open positively after the DAX fell 83 points yesterday. The DAX is looking at opening up around 0.72% at 8,969.5. The FTSE is looking to recover from its slight dip yesterday, as investors were unsettled by the results of Lloyds after the European stress test, opening up about 32 points just below the 6,400 level.
Equities in the news morning are likely to be Lloyds, British gas, British petroleum and Standard Chartered among others, announcing Q3 results. These large weighted FTSE equities could have a large effect on the trend on the market especially as Lloyds Banking Group tries to reinstate confidence in its banking arm after Sundays EU stress test.
Gold has fallen for the 5th day running falling from the $1250 mark that investors saw as the level to watch last week, now trading down 20 points as the Fed is set to end its asset and bond buying program. In addition light crude is another commodity on the slide, falling briefly below $80 per barrel, however recovering to $80.75 this morning.
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