Spreadex Market Update
Apple ordered to pay up to €13 billion in back taxes by European Commission
The FTSE, which had little to do beyond trying to ignore its red-splashed mining sector, managed to maintain its half a percent increase this Tuesday, climbing to 6850 in the process. The pound, on the other hand, fell by 0.3% against the dollar (and a milder 0.1% against the euro) as the latest net lending to individuals reading showed, contrary to other reports, that consumers had suffered a knock in confidence post-Brexit, the amount of credit borrowed slipping from £5.1 billion in June to £3.8 billion in July.
Over in the Eurozone the DAX and CAC continued to plough ahead with their near 1% rises this morning, despite August’s Economic Sentiment Indicator for the region as a whole dropping to 103.5 from 104.5 last month.
Interestingly the biggest piece of news from the EU had more repercussions for the US markets than their European counterparts. The European Commission has ruled that Apple has to pay up to €13 billion in back taxes related to the soft tax deal the tech giant has in Ireland. This could cause a sharp decline for Apple after the bell, something that may drag the Dow Jones (which is hovering just under 18500) lower as the US session gets underway.
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.
