Wells & Citi up next

Wells & Citi up next

Mike van Dulken & Henry Croft at Accendo Markets commented to clients this afternoon:

“Equity markets are mixed as investors digest mixed Q2 results from JPMorgan (headline beats, segment misses, legal boost) and prepare for peers Wells Fargo (1pm) and Citigroup (1.20pm) to update us further on the state of the key sector. Indices are off their highs but sentiment calm as traders digest this week’s equity/oil rebound – thanks to a non-committal Fed Chair Yellen – and prepare for China GDP on Monday that could dictate risk appetite. The FTSE 100is offside, dragged lower by big Pharma (AZN CEO leaving?), HSBC (profit-taking from 4yr highs) and GBP strength (BATS, ABF, VOD, BP).  Offering buoyancy is Shell (higher oil price), Miners (weak USD, higher oil and metals), SHP (bounce). The DAX is higher thanks to EUR off its highs and gains for VW, but with a mixed showing from Auto peers, and weakness in Utilities and HeidelbergCement. The FTSE 100 is off its highs, but holding the 7385 breakout. The DAX 30 has paused 12615-12260 in a potential bullish flag towards 12800. Dow Jones Futures has bounced from 21550, just shy of this week’s 21580 record. Gold is testing 6-week falling highs resistance again at $1221.

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Categories: News
Tags: alert, alerts

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