FTSE slips on thin trade
The FTSE is trading lower on unimpressive volumes with the session quieter than usual because of the US markets holiday.
Share this:
The FTSE is trading lower on unimpressive volumes with the session quieter than usual because of the US markets holiday.
Shares in NMC Health have dropped another 4% this morning as investors try and work out the realistic price for the beleaguered health operator. BAE Systems provided some counterbalance to the fallers as various flash points in the Middle East remain active.
Home builders also ticked higher following a report that UK house prices rose an uncharacteristic 2.3% in the month to January 11, signalling buyers’ optimism after the UK election. But the pound slipped below $1.30 again and traded lower against the dollar, unimpressed with the progress of the EU-UK trade negotiations.
Libya talks and the oil price
While the German Chancellor Angela Merkel has managed to gather the biggest international players involved in the conflict in Libya in Berlin this weekend, including Russia’s President Putin and the US Secretary of State Mike Pompeo, to discuss a resolution of the conflict in the country, back on the ground armed forces cut off a pipeline to the largest oil field in Libya.
Brent Crude and WTI are both trading higher this morning after the National Oil Corporation declared force majeure but it would be too early to count the lost barrels of production given that political discussions will play a role in when the oil flow will come back on line. This is also how stock investors interpreted the news resulting in BP and Shell prices ticking higher only temporarily before sliding soon after the market opened.
The FTSE is trading lower on unimpressive volumes with the session quieter than usual because of the US markets holiday.
Shares in NMC Health have dropped another 4% this morning as investors try and work out the realistic price for the beleaguered health operator. BAE Systems provided some counterbalance to the fallers as various flash points in the Middle East remain active.
Home builders also ticked higher following a report that UK house prices rose an uncharacteristic 2.3% in the month to January 11, signalling buyers’ optimism after the UK election. But the pound slipped below $1.30 again and traded lower against the dollar, unimpressed with the progress of the EU-UK trade negotiations.
Libya talks and the oil price
While the German Chancellor Angela Merkel has managed to gather the biggest international players involved in the conflict in Libya in Berlin this weekend, including Russia’s President Putin and the US Secretary of State Mike Pompeo, to discuss a resolution of the conflict in the country, back on the ground armed forces cut off a pipeline to the largest oil field in Libya.
Brent Crude and WTI are both trading higher this morning after the National Oil Corporation declared force majeure but it would be too early to count the lost barrels of production given that political discussions will play a role in when the oil flow will come back on line. This is also how stock investors interpreted the news resulting in BP and Shell prices ticking higher only temporarily before sliding soon after the market opened.
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
WTI Crude Oil Mulls Bounce from $90
Having fallen 17% from its cycle highs in just five days and now holding above $90, perhaps it could be time for crude oil to bounce over the near term.
Wall Street Forecast: DJIA rises on hawkish Fed expectations & rising yields
U.S. stocks are opening lower on Wednesday, pressured by higher crude oil prices and rising government bond yields, as investors await further developments from negotiations in the Middle East and ahead of a key U.S.-China summit.
Why Crude Oil Slid While Middle East Tensions Kept Building
The crude oil pullback from monthly highs is running ahead of the headlines, as WTI and Brent ease while Middle East tensions stay unresolved.
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.