CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Equity Market Handover Reasons to be more fearful

Article By: ,  Financial Analyst
June 21, 2019 10:33 AM

Stock market snapshot as of [21/6/2019 2:24 PM]

  • Overtones of the trade conflict are, like the unseasonably wet weather in much of Europe right now, difficult to avoid and likely to put a dampener on things. The impact on the broad STOXX 600 gauge was a 0.3% slip a short while ago
  • Stock markets here were already on the lookout for excuses to consolidate their biggest monthly gain since January
  • A report that U.S. President Donald Trump was close to issuing an executive order to force disclosure of health industry prices echoed in European pharma and health shares
  • The simmering and increasingly unpredictable U.S.-Iran stand-off has also chilled the week’s revived cheer. The latest is that Iran says it refrained from downing an aircraft accompanying the U.S. drone it destroyed earlier this week
  • The news sets oil prices on course for their third session gain of the week and biggest weekly gain of the year
  • The Brent benchmark was up 0.8% on the day. Norway’s oil-stock laden OMX lifted 1%, outperforming regional counterparts
  • Business sentiment surveys, are a counterbalance on sentiment. Or are they? To the extent that better than expected ‘flash’ manufacturing PMIs act as a brake on rate cuts hinted at by ECB president Mario Draghi, signs that Eurozone economies may have bottomed out might not be immediately welcome for investors

Corporate News

  • GlaxoSmithKline led heavyweight losers on those Trump reports, falling 1.8% towards Wall Street’s open. It derives about a third of revenues in the U.S.
  • Oil shares pushed the energy sector out in front again, with BP leading, followed closely by France’s Total and Royal Dutch Shell. The supermajors traded around 1% higher just now
  • Consumer staples stocks pared their better-than-market-average returns for the year to date, implying profit taking from safety-tinged rotation plays
  • U.S. stock index futures are between 0.2% and 0.3% lower; so the return of less sure-footed sentiment is set to carry over to Wall Street
  • Slack is set to be an outlier as it extends gains made at a stellar IPO on Thursday. It closed 48% higher than the price it was offered at in its direct listing. ‘WORK’ is quoted about 4% higher
  • Carnival Corp, the cruise operator will be among heavyweight fallers. The stock is marked 4% lower in pre-market trading as brokerage downgrades pile in after a weaker than expected full-year forecast

Upcoming corporate highlights


AMC: after market close

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024