Brisk off – Accendo Markets

Brisk off – Accendo Markets

Mike van Dulken, head of Research at Accendo Markets commented to clients this afternoon:

“Equities look set to end this week on a downer, as geopolitical uncertainty regarding North Korea shakes volatility from its 2017 slumber. This has taken equities from recent highs, dragging metals and oil with them, the preference for safe havens sending Gold & Silver to 2-month highs and reviving interest in bonds. The UK FTSE100 underperforms, most impacted by losses among risk assets including Oil Majors, Miners, Financials/Banks but also Pharma, Telecoms and select defensives such as Tobacco. Gains for consumer staples (ULVR +RB) offer little help. Germany’s DAX is also being weighed down by risk assets (Financials, industry) but outperforms the FTSE thanks to gains for Healthcare and Consumer. The FTSE 100 has broken below 7350 to flirting with 7300 2-month lows. The DAX 30 has bounced from 11935, but has yet to break back above 12000. Dow Jones Futures are testing support just above 21800. Gold is edging back from overnight highs. Bearish double top back to $1279?”

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