Trade talk sweetener boosts FTSE

The FTSE has found some spring in its step as the US and China moved a step closer to breaking the trade talk impasse. According to reports the US is considering lifting $112 billion worth of tariffs on Chinese goods as a sweetener to seal the first phase of the trade deal .

Primark owner AB Foods is leading the risers with a 4.22% increase in share prices despite reporting a net loss for the quarter. However, the company’s full year performance still remains positive with Primark continuing to bring in profit and widening its expansion plans in the south of Europe.  

Bristol-based Imperial Brands posted operating profits which fell short even of its revised numbers in September when the company halved its previous expectations for full year growth. Struggling with the aftermath of a ban on flavoured products in the US vape market the company is not only looking for new direction but also for a new CEO as current CEO Alison Cooper is in the process of leaving the post.

Pound flat in pre-election apathy

Currency traders are finding little reason to buy into the pound amid full-blown pre-election apathy, anticipating that the next six weeks of campaigning will result in little more than a hung Parliament. Thus the pound’s recent recovery has been cut short and the currency is trading at $1.2886. Sterling has also yielded some ground to the euro

Trade talk optimism is providing the dollar with a fillip, boosting the currency against the safe-haven yen. The next point of focus for the greenback will be a busy afternoon of economic data in the US including the September trade balance, Redbook and the composite October PMI number.

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.

The markets are moving. Stop missing out.

OPEN AN ACCOUNT