China trade concerns back on the agenda
Fiona Cincotta July 18, 2019 10:09 AM
The FTSE is also heading lower with the biggest declines sustained by miners, oil producers and utilities. Metals producers are in a particularly weak position when it comes to China trade issues because the country buys more than half of most of the world’s base metals.
Pub chain and easyJet lead gainers off main index
The runaway gainer on the FTSE 250 is pub owner EI Group which rose nearly 40% after the company accepted a GBP1.3 billion takeover from Stonegate Pub, the owner of the Slug & Lettuce chain. Budget airline easyJet, which has last month lost its position in the FTSE 100, is also gaining ground as it reported an 11% increase in revenue in the third quarter.
Sterling stabilises as dollar loses ground
Having dipped below $1.24 on Wednesday, sterling is slightly more stable this morning, trading at $1.2474. However, the move higher has more to do with some weakness in the dollar than any reasons for the pound to firm. The dollar is weaker against most majors, dragged down partially by lower yields on Treasuries and renewed concerns over the China-US trade tensions.
Disclaimer: The information on this web site 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. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.