FTSE declines as the virus proves more difficult to shake off
While Monday’s coronavirus numbers showed an encouraging dip, by Wednesday it became clear that though the virus is under control, the case and death load is declining painfully slowly.
Share this:
While Monday’s coronavirus numbers showed an encouraging dip, by Wednesday it became clear that though the virus is under control, the case and death load is declining painfully slowly. The resurgence of cases across Europe, particularly in Germany, which was the one country that looked as if it had the virus under control, is dousing investors’ confidence.
UK retail-orientated shares are slumping this morning despite yesterday’s decision to allow a wider range of businesses to reopen from July and to reduce the social distance requirement to just one meter.
There is also more pressure on travel companies as the EU is looking into potentially banning Americans from visiting, alongside Russians and Brazilians, because the pandemic is not fading in the US.
Premier Foods shares are among the very few FTSE risers. Despite the pandemic the company expects revenue for the first quarter to rise by around 20% and to exceed its current profit forecast for 2021.
WTI, Brent prices decline as stock levels rise
The anticipated decline in the size of the US crude oil inventories has not materialised yet but there are signs that the market is beginning to shift. The price reaction was immediate and WTI prices dropped 1.3%, but investors ignored the finer breakdown of the numbers showing that there have also been large withdrawals during the last week as demand picks up, and the large drop in production is starting to be felt. US-China trade frictions remain a major headwind for the oil market but for the moment US officials are trying to confirm their belief that Phase One of the trade deal will be fulfilled as agreed.
UK retail-orientated shares are slumping this morning despite yesterday’s decision to allow a wider range of businesses to reopen from July and to reduce the social distance requirement to just one meter.
There is also more pressure on travel companies as the EU is looking into potentially banning Americans from visiting, alongside Russians and Brazilians, because the pandemic is not fading in the US.
Premier Foods shares are among the very few FTSE risers. Despite the pandemic the company expects revenue for the first quarter to rise by around 20% and to exceed its current profit forecast for 2021.
WTI, Brent prices decline as stock levels rise
The anticipated decline in the size of the US crude oil inventories has not materialised yet but there are signs that the market is beginning to shift. The price reaction was immediate and WTI prices dropped 1.3%, but investors ignored the finer breakdown of the numbers showing that there have also been large withdrawals during the last week as demand picks up, and the large drop in production is starting to be felt. US-China trade frictions remain a major headwind for the oil market but for the moment US officials are trying to confirm their belief that Phase One of the trade deal will be fulfilled as agreed.
While Monday’s coronavirus numbers showed an encouraging dip, by Wednesday it became clear that though the virus is under control, the case and death load is declining painfully slowly. The resurgence of cases across Europe, particularly in Germany, which was the one country that looked as if it had the virus under control, is dousing investors’ confidence.
UK retail-orientated shares are slumping this morning despite yesterday’s decision to allow a wider range of businesses to reopen from July and to reduce the social distance requirement to just one meter.
There is also more pressure on travel companies as the EU is looking into potentially banning Americans from visiting, alongside Russians and Brazilians, because the pandemic is not fading in the US.
Premier Foods shares are among the very few FTSE risers. Despite the pandemic the company expects revenue for the first quarter to rise by around 20% and to exceed its current profit forecast for 2021.
WTI, Brent prices decline as stock levels rise
The anticipated decline in the size of the US crude oil inventories has not materialised yet but there are signs that the market is beginning to shift. The price reaction was immediate and WTI prices dropped 1.3%, but investors ignored the finer breakdown of the numbers showing that there have also been large withdrawals during the last week as demand picks up, and the large drop in production is starting to be felt. US-China trade frictions remain a major headwind for the oil market but for the moment US officials are trying to confirm their belief that Phase One of the trade deal will be fulfilled as agreed.
UK retail-orientated shares are slumping this morning despite yesterday’s decision to allow a wider range of businesses to reopen from July and to reduce the social distance requirement to just one meter.
There is also more pressure on travel companies as the EU is looking into potentially banning Americans from visiting, alongside Russians and Brazilians, because the pandemic is not fading in the US.
Premier Foods shares are among the very few FTSE risers. Despite the pandemic the company expects revenue for the first quarter to rise by around 20% and to exceed its current profit forecast for 2021.
WTI, Brent prices decline as stock levels rise
The anticipated decline in the size of the US crude oil inventories has not materialised yet but there are signs that the market is beginning to shift. The price reaction was immediate and WTI prices dropped 1.3%, but investors ignored the finer breakdown of the numbers showing that there have also been large withdrawals during the last week as demand picks up, and the large drop in production is starting to be felt. US-China trade frictions remain a major headwind for the oil market but for the moment US officials are trying to confirm their belief that Phase One of the trade deal will be fulfilled as agreed.
Related tags:
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
EUR/USD, FTSE 100 Forecast: Two trades to watch 1507
EUR/USD rises after weaker US CPI, PPI up next. FTSE 100 falls as weak China GDP data hits miners.
FTSE 100, USD/JPY Forecast: Two trades to watch
FTSE eases modestly despite inflation unexpectedly holding steady. USD/JPY drifts lower ahead of the FOMC rate decision.
EUR/USD, FTSE 100 Forecast: Two trades to watch 21-05-26
EUR/USD slips below 1.16 as weak eurozone data weighs on sentiment. FTSE 100 slips as oil prices rebound and caution returns.
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.