CTRL+ALTcoins+Delete

CTRL+ALTcoins+Delete

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

Equities remain positive with the German DAX and Wall St outperforming a flat UK FTSE100. The latter is in spite of GBP off its highs, as USD finds support to inspire profit taking in the commodity space, coupled with mixed inflation prints, a plethora of corporate results and an absence of risk appetite favouring defensives. The DAX benefits from EUR weakness amid fresh German coalition talk uncertainty. Wall St retains a bullish bias, set to open higher after a long weekend. The UK FTSE is being held back by BP (bigger Deepwater Horizon bill), Miners (stronger USD, base metals lower, HSBC downgrades), RDSB (oil off highs) and Banks (Carillion fallout, potential bad loans; US peer results risk) overshadowing the positivity from HSBC/BARC (rebound), BATS (weaker GBP), VOD (defensive) and AB Foods (broker upgrade). Germany’s DAX outperforms thanks to the weaker EUR giving a boost to exporters, notably Autos and Industrials. The FTSE 100 holds above recent 7763 lows. The DAX 30 is making an upside test of 13350. Dow Jones Futures look set to reopen above 26000, extending the rally. Gold’s pullback has found support at $1332 prior highs.”

Enter your e-mail address to receive updates straight to your inbox

My Newsletter

You can easily unsubscribe at any time by clicking on the unsubscribe links at the bottom of each of our emails

About Author

Accendo Markets

Accendo Markets is an online trading services provider, offering CFDs, spread betting and forex to retail (private) clients. Accendo Markets was established in 2007 and has since gone on to win various awards including ‘2018 Winner of Best CFD provider’ at City of London Wealth Management awards and 2017 & 2018 Best CFD Research Service in ADVFN’s International Financial Awards Accendo Markets Ltd. is authorised and regulated by the Financial Conduct Authority (FCA). For more information, visit www.accendomarkets.com