FTSE lower as corporate results show declining sales
Fiona Cincotta June 19, 2019 10:41 AM
A set of weaker company results hit the FTSE this morning with further pressure added by airline shares.
A set of weaker company results hit the FTSE this morning with further pressure added by airline shares. Investors have been unforgiving towards British Airways parent IAG, down 4%, after the company decided to buy 200 new Boeing planes.
Trading is slightly more restrained than usual ahead of the key Federal Reserve meeting which will set the tone for the rest of the day’s trading. The Fed is widely expected to keep rates unchanged but to opt for a cut at its next meeting in July. The tone of the meeting will be crucial given that the domestic US economic data has been showing more weakness of late.
Euro in focus after Draghi comments and Trump on the attack
The European Central Bank is about to change tack on interest rates and potentially re-start quantitative easing, but the move, which was resolved to prop up the region’s ailing economy, has provoked the ire of the US President. A series of Trump tweets have left investors wondering if they will be looking at currency wars this summer in addition to trade disputes.
The euro weakened against the dollar and the pound in the aftermath of Draghi’s comments but this morning the common currency has recovered all of the lost ground, trading up 0.11% against the greenback and flat against the pound.
Sterling is marginally higher against the dollar but still relatively weak at $1.2576, suspended in the lower range while the Tory party leadership contest is in full cry.
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.