EUROPEAN SHARES Stocks drifted lower on Wednesday, despite bets on further US stimulus driving most Asian stocks and US Future contracts higher overnight. Investors were pleased to see the US House of Representative speaker Nancy Pelosi maintaining her “hopes” of a compromise on the next stimulus plan before the end of the week. However, while…
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What to watch Netflix: One of the success stories of the pandemic, Netflix’s share price has soared by 64% in 2020 as consumers stuck at home turned to streaming services. A challenge that is becoming more pressing as the Covid-19 pandemic has worn on is the company’s ability to create and serve up fresh content…
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GOLD In the last few days there hasn’t been much volatility on bullion as investors awaiting new market drivers. Only a clear climb above $1,930 would give new strength to the price, while although the bull trend seems to be in pause it is definitely not yet dead. We will have a weakness signal below…
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Key data this week Bold indicates the most important releases for this symbol Wednesday 21 October, 6.00 GMT: British annual inflation (September) - consensus 0.6%, previous 0.2% Wednesday 21 October, 6.00 GMT: British annual core inflation (September) - consensus 1.3%, previous 0.9% Wednesday 21 October, 6.00 GMT: British monthly inflation (September) - consensus 0.5%, previous…
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What to watch IBM: IBM’s post-market close earnings report today will be an interesting one, after the firm announced on October 8 that it plans to spin off its IT outsourcing business. That division accounts for $19bn of the firm’s $59bn in revenue, according to MarketWatch. It leaves behind a hardware, software and services business…
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GOLD The countdown clock is running down quickly with both Brexit and the US election getting ever closer to an end (at least for US elections). Despite this, we are not yet seeing risk aversion on the markets with stocks continuing the rebound started on Friday. Bullion has also started the new week in green…
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What to watch BNY Mellon: Continuing the run of earnings reports this week from major US banks, Bank of New York Mellon delivers its own quarterly earnings update on Friday. The company is down 26% year-to-date, behind the broader financial sector’s 18.9% drop but ahead of the 34.5% loss suffered by banks specifically. In recent…
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GOLD After yesterday’s sell off on European stock markets, gold is remaining steady just above $1,900. Rising figures of Covid-19 infections are increasing fears of more lockdowns with all the related consequences. In other words, the impending need for more monetary stimulus to mitigate the impact of the coronavirus-induced crisis is keeping investors’ gold appetite…
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Hashtacs and Swiss private bank EFG are developing a blockchain platform in a project funded by the Monetary Authority of Singapore’s (MAS) Financial Sector Technology & Innovation (FSTI) proof-of-concept grant. The platform is called “Project Nathan” and uses distributed ledger technology (DLT) to automate and manage the entire lifecycle of a structured product. Advanced Markets Group,…
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What to watch Intuitive Surgical: Medical robotics firm Intuitive Surgical’s stock has gained 27% this year, despite Covid-19 disrupting large numbers of medical procedures. The company delivers its latest quarterly earnings update today, where the volume of procedures amid a resurgence in Covid-19 case numbers in several states across the US. Investors will also be…
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