Equity Market Handover Trying to hold the holding pattern
Stock markets are partly in a holding pattern, partly drifting to 'safety'
Share this:
Stock market snapshot as of [25/6/2019 3:01 PM]
- Partly a holding pattern, partly a surreptitious drift to safety is a fair way to characterise the market mood as global tensions simmer ahead of the G20 meeting
- That was represented almost literally by the 339 of six hundred STOXX Europe 600 shares trading lower half-way through the session, whilst 251 rose and a minority were flat
- It’s a third straight day of losses for the broad regional gauge but the 1% slide since Thursday essentially takes the market back to its range a week ago
- North American indices start on a similarly lacklustre footing. All main Wall Street gauges were lower together with Toronto’s TSX just now. Only Mexico’s Mexbol was on the rise
- Gold and the yen and most EU and U.S. government bonds to continue to rally as a function of both safety seeking and the massive accommodation expected from broad monetary easing. The dollar index is only flat after falling almost 2% since 18th June
- Oil prices fluctuate, last trading moderately higher with traders unsure U.S. crude can extend gains of 8% in just three days, unless Iran tensions boil over again. OPEC’s supply announcement is still a week away and the probable decision to maintain lower output looks priced in
Corporate News
- To be sure, the most hamstrung European stock market sectors of the year continue to ail on trepidation whilst the energy sector barely advances
- Société Générale leads the largest banks to a continued underperformance, falling 1%, with investors reacting to a fresh record low in Germany’s 10-year bund yield, Europe’s benchmark borrowing cost
- Smaller French peers Natixis worsens a significant recent decline with a 2% fall in the wake of €1.4bn in outflows from its tainted H20 fund
- The U.S. session opens with more colossal health sector merger news as AbbVie confirms a $63bn deal to buy Botox maker Allergan. AbbVie tumbles 8%, Allergan is 32% firmer
Upcoming corporate highlights
AMC: after market close
Upcoming economic highlights
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500 forecast: Stocks extend drop as correction risks grow
US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.
EUR/USD Update: Will Fed Expectations Keep Pressure on the Euro?
The week continues to present challenges for the euro's short-term strength. This is reflected in the recent performance of EUR/USD, which has declined by nearly 0.6% over the last three trading sessions
ASX 200 Rebound Stalls Despite Wall Street Surge
The ASX 200 rebound is struggling for traction despite a powerful Wall Street rally, leaving 8800 resistance and downside risks in focus.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.