Calm-er after the vol-storm

Calm-er after the vol-storm

European equities are higher, following the US and Asian rebound. However, as much as this will please those of a bullish persuasion, looking for buying opportunities, bears highlight major indices well off the highs that futures markets hit overnight. As it stands, we’re back closer to overnight lows. Calm may have returned, but genuine risk appetite has yet to reappear. Not until investors are certain that, if this was just a technical correction, that it’s over, and not part of a bigger unwind and decline. Stronger USD helping FTSE and DAX via corresponding weakness in GBP and EUR.

The UK FTSE trades +50pts, with strong contributions from the likes of Oil (lower oil price, weaker GBP ),  BATS (weaker GBP, IMB outlook), ULVR (weaker GBP), DGE (weaker GBP, beneficiary of poor Carlsberg results) and a host of financials (PRU, SMT, HSBC, BARC) with only limited drag from GLEN/AAL (stronger USD, metals lower), STAN (stronger USD, pref for HSBC) and SKP (results, headwinds). The FTSE 100 trades 7160-7195, nearing a break one way or the other. The DAX 30 hugs rising support at 12430. Dow Jones Futures test rising support, still below falling highs resistance. Gold has turned back from $1333.”

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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