FTSE lower as protests, Wall Street weigh
Fiona Cincotta June 12, 2019 11:56 AM
A weaker close on Wall Street and protests in Hong Kong are keeping European markets under pressure.
A weaker close on Wall Street and protests in Hong Kong are keeping European markets under pressure. The FTSE is down almost 0.4%, weighed down by a decline in British American Tobacco shares. Banks and insurers are also sliding while retailers and supermarket chains are providing some counterbalance.
Hopes that the US and China would reach a trade deal before the summer holidays were doused by comments from President Trump who said that there would be no deal unless China sticks to the promises it made in earlier negotiations.
Sterling steady in eye of the no-deal storm
Currency traders are trying to work out what is happening with the Tory leadership contest as Boris Johnson launches a campaign promising a definite Brexit on 31 October.
Opposition is already building not only from politicians but industry leaders who see a no-deal Brexit as the worst case outcome. The pound has notched marginally higher against the dollar and the euro, waiting for a clearer signal.
The dollar is struggling to hold its ground and has slipped close to a three month low, still under pressure from the possible Fed rate cuts debated at the central bank’s last session.
Oil slips as trade frictions persist
No signs of an improvement in the Sino-US frictions are keeping oil prices under pressure. Brent dropped more than 2% on lack of signs of a deal and protests in Hong Kong.
Please note these products may not be available to trade in all regions.
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.