Pound tumbles on Brexit tension, boosts FTSE 100 London-listed stocks recorded gains last week, as significant tensions between the United Kingdom and European Union over Brexit sent the value of the pound tumbling. Sterling fell from close to $1.33 on Monday to sub $1.28 by the weekend. Any negative movement for sterling tends to lead…
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GOLD The gold price is slightly recovering following modest gains for stocks as investors look for new market movers. The macroeconomic calendar is not too busy today, while EUR/USD is also steady with the euro gaining just a few pips. The main scenario remains unchanged as bullion is still in a long-term bullish trend, while in…
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Morrison earnings disappoint while Games Workshop soars London-listed shares were close to flat yesterday, although they ended the day in the red. Sterling suffered another poor day, falling more than 1% against both the dollar and euro after the European Central Bank decided to hold fast on its current interest rate position. Morrison Supermarkets brought…
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Online FX and CFD trading and cryptocurrencies provider FXCM announced the launch of the SMS Trading Alerts service to help users spot potential trading opportunities. The SMS Trading Alerts cover shares, forex, gold and many other tradable instruments at FXCM. Users can choose the instruments that they want to receive signals for and they will receive…
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EUROPEAN SHARES European benchmarks were little changed for the last trading session of the week as uncertainty continues. Although the ECB held its rates and provided investors with extended purchase programs (APP and PEPP) yesterday, no significant immediate impact has been recorded on stock prices as the move was already largely priced in. Christine Lagarde’s…
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AstraZeneca holds firms after positive news on Covid-19 vaccine trial hiccup After reporting late on Tuesday that it had paused its Covid-19 vaccine trial due to participant illness, AstraZeneca’s London listed shares closed the day in the green. Per CNBC, the company’s CEO Pascal Soriot told investors on a private conference call on Monday morning…
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EUROPEAN SHARES Stock markets opened mixed but steady this morning as traders now brace for today’s ECB meeting after a volatile trading week so far. The recent mounting bearish drivers on stocks (drying stimulus, US-Sino tensions, Brexit talks and valuation issues in the tech sector) have made the mid-term outlook much harder to predict for…
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AstraZeneca pauses Covid-19 vaccine trial The pound continued to slump yesterday, falling below $1.30 after reports that the UK is stepping up preparations for a possible no-deal Brexit. The tumbling pound buffered UK stocks from the broader Tuesday sell-off globally (as large UK firms make a significant proportion of their money overseas in other currencies)…
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Key data this week Bold indicates the most important releases for this symbol. Tuesday 8 September, 6.00 GMT: German balance of trade (July) - consensus €22 billion, previous €15.6 billion Tuesday 8 September, 6.45 GMT: French balance of trade (July) - consensus -€4.8 billion, previous -€8 billion Tuesday 8 September, 9.00 GMT: eurozone-wide annual GDP…
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EUROPEAN SHARES Stocks are trading slightly higher at the beginning of the European session on Monday with benchmarks stabilizing following last week’s sell-off. While uncertainty remains over mounting job risks as well as drying stimulus, many investors seem to be speculating that the European economy could be more resilient than other economic areas. These hopes are…
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