What to watch Oracle: Software firm Oracle provides database and cloud services to businesses, and has been shifting its business towards a subscription model for years. Its share price is flat year-to-date, following a 24.7% rally over the past three months. The firm notched a significant recent win in April, when it won a cloud…
Read more
EUROPEAN SHARES European shares traded significantly higher on Tuesday, with similar gains on both Asian stocks and US futures on the S&P 500. This bullish trading stance took hold during yesterday’s US session when both the Fed and Washington tried to reassure investors against rising virus numbers. While the Fed will start buying corporate bonds…
Read more
Key data points Bold indicates the most important release for this symbol. Tuesday 16 June, 20.30 GMT: API crude oil stock change (12 June) - previous 8.4 million Wednesday 17 June, 14.30 GMT: EIA crude oil stock change (12 June) - previous 5.72 million Friday 19 June, 17.00 GMT: Baker Hughes oil rig count (19…
Read more
Bank governor says central bank ‘ready to take action’ after GDP contraction Over the weekend, following a week in which the FTSE 100 fell by just shy of 6% and it was revealed that the UK economy shrank by 20.4% in April, Bank of England governor Andrew Bailey said that the central bank is “ready…
Read more
EUROPEAN SHARES European stocks drifted lower at the opening on Monday, extending losses registered earlier this morning by Asian benchmarks, as the appetite for risk assets decreases. This risk-off mood, initially triggered last Thursday by fears of a second virus wave, has been confirmed over the weekend after a rise in the number of new…
Read more
What to watch June consumer sentiment: On Friday, the Michigan Consumer Sentiment Survey will be released in the US, with economists anticipating that the index will tick up to 75 for the month, from 72.5 in May. Remember, the figure being reported does not include the impact of yesterday’s market selloff, when fears of a…
Read more
OECD says UK will be hardest hit major economy Following a sharp sell-off yesterday, London-listed stock indices continued falling on Wednesday after the OECD warned that the UK is likely to be the major economy hardest hit by the pandemic. The OECD anticipates the UK economy will sink by 11.5% in 2020, worse than contractions…
Read more
Sharp pullback for UK stocks in face of new data The FTSE 100 and FTSE 250 sank sharply yesterday, with both indices losing 2.1% apiece, leaving London-listed stocks stuck in correction territory while US shares are creeping past the breakeven point year-to-date. Investors had multiple data points to digest, including information from the British Retail…
Read more
Cable, four-hour Having made a fresh three-month high around $1.275 overnight, the pound has now retreated somewhat against many currencies today including the dollar. More news of the UK’s lockdown being eased is awaited, and a general weakening of “risk on” so far today has weighed on the pound somewhat. No real progress was made…
Read more
What to watch Chewy: Online pet food and supply retailer Chewy has been a natural beneficiary of the coronavirus pandemic, as large numbers of people have chosen to adopt dogs and other pets during this period. At the same time, many haven’t been able to go shopping physically. The company reports its latest set of…
Read more