Spreadex Market Update
Apple tax bill dominates, while FTSE lags behind Eurozone peers
At points down around 1.5% Apple settled at a half a percent fall this Tuesday following the European Commission ruling that Ireland had given the tech giant illegal state aid for more than a decade. The reason for the relatively minor fall is likely the fact that the ruling is far from set in stone; both Ireland and Apple are set to appeal the decision, with months and years of toing and froing potentially on the cards. If the EC ruling is upheld, however, then the likes of Alphabet and Amazon may be next in the back-taxes firing line.
In terms of more market-specific news the latest US consumer confidence reading came in higher than expected, at an 11 month peak of 101.1 against the 97.2 forecast (and the downward-revised 96.7 last month). This, alongside Apple’s aforementioned fall, helped the Dow Jones drop by 40 points after the bell as investors continued to try and ascertain when the Federal Reserve will raise interest rates once again.
Over in Europe the FTSE continued to lag its Eurozone peers, its half a percent increase shrinking to a mere 0.1% as its mining sectors intensified the shade of red they have found themselves in since this morning. The DAX and CAC, meanwhile, built upon their earlier growth, now up 1.2% and 0.9% respectively.
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.
