Pan-European bourse link up leaves FTSE unaffected
November 18, 2019 10:22 AM
A flurry of European news put pressure on the DAX but the FTSE was mostly unaffected and continued to trade marginally higher. Frankfurt is somewhat feeling the heat from the potential pan-European exchange merger between Euronext and Spain’s Bolsas y Mercados Espanoles.
On the FTSE retailers are marching higher as the UK gears up for the pre-Christmas shopping spree, with Next, JD Sports Fashion and Morrison all trading higher.
Engine maker under pressure after more engine issues
Rolls-Royce shares came under more pressure this morning after Air New Zealand cancelled some flights blaming it on engine issues. The engine maker’s shares have already plunged from a high of 988 earlier in the year to currently 732 pence and the recent acquisition of a 5% stake in the company by a US activist investor has fueled questions around whether shareholders will force the company to change the way it is being run.
Aramco IPO road show props up oil price
The single most anticipated pre-IPO show hit the road on Sunday as Saudi Arabia’s Aramco started to gauge investors’ interest for its public offering in December. The company set a price range for shares which value the company at up to $1.7 trillion, which is below the $2 trillion wanted by the Saudi Crown Prince but significantly above the $1.0-$1.2 trillion value estimated by Western analysts. Brent crude futures blipped higher over the weekend and then plunged but eventually settle this morning at almost unchanged on the previous session. WTI traders were a little more optimistic and WTI crude notched 0.21.% higher.
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.