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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.
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FTSE regains ground as oil prices settle

Article By: ,  Senior Market Analyst
September 17, 2019 5:47 AM
Although the geopolitical situation in the Middle East still remains extremely sensitive the lack of any major new development this morning has granted the stock markets some form of a reprieve. Brent crude is trading in a narrow range between $68 and $69, having settled from Monday’s 20% oil-attack induced spike but oil companies and utilities continue to trade higher. Pharmaceuticals and consumer goods firms like Unilever and Diageo are also helping the FTSE gain ground.

Sainsbury’s shares firm despite sales drop

It is a sign of the times that the latest sales figures for Sainsbury were headlined with “Sainsbury outperforms rivals.” What the headline didn’t mention is that the supermarket’s sales actually declined in the last three months and only the fact that they fell less than those of its peers earned the group this headline. 

In less Brexit-addled times Sainsbury’s shares would have actually declined on the news but this morning the supermarket’s shares managed to rise instead, up nearly 0.7%. Traders were less forgiving with Morrison (Wm) and Marks & Spencer, both of which are trading lower.

Sterling continues its long slow decline, slipping below 1.24 against the dollar and weakening 0.33% against the euro. Some exasperation with the pound is being relieved with a burst of activity in the oil currencies which have attracted far more traffic since the weekend attack on Saudi oil facilities with the likes of Norwegian krone and the Canadian dollar capitalising on the sharp spike in the oil price.

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