EUROPEAN SHARES Friday saw most European benchmarks consolidate following a solid three day rally. The market sentiment remains alive today, thanks to the global support measures taken in almost every region. However, investors around the world may be tempted to take some profits before the weekend. The spread of the virus doesn’t seem to be…
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S&P 500: +6.2% Thursday, -18.6% YTD Dow Jones Industrial Average: +6.4% Thursday, -21% YTD Nasdaq Composite: +5.6% Thursday, -13.1% YTD FTSE climbs as government tacks on support for the self-employed Both the FTSE 100 and the FTSE 250 climbed higher on Thursday, although both still remain in a bear market. Yesterday, Chancellor Rishi Sunak added…
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It’s worth bearing in mind that no one is really using crypto-assets, so anyone collecting money for charity in Bitcoin or any other crypto-asset is firstly narrowing the market of people who could donate, and secondly putting its collections at risk of a dramatic drop in value such as mentioned above. And that’s treating it at…
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The Nasdaq Composite also gave up gains in an end-of-day selloff, which in the Nasdaq’s case took it into negative territory for the day. Several names that have been faring better than the broader market overall fell hardest, including Netflix and Gilead Sciences, which sank 4.2% and 5.8% respectively. S&P 500: +1.2% Wednesday, -23.4% YTD…
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What's next? As lockdowns have been extended in Europe, likely, the next PMI reading will also be bad. However, the stock markets are forward-looking, and I suspect that they will be more interested to see what will happen with the development of Covid-19, and how the Chinese economy is doing, for clues to what may…
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EUROPEAN SHARES Share markets opened lower everywhere in Europe on Thursday as uncertainty remains the overriding sentiment and has pushed investors into taking any profits generated by this week’s recovery attempt. The fact remains that investors from around the world have welcomed the recent historical batch of monetary and fiscal responses to coronavirus and these…
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OIL Risk-on remains predominant on markets. This is moderately helping the oil price in its attempt at a difficult recovery, as investors are still worried about the huge oversupply that is likely to remain the main topic for the next few months. The WTI price jumped up to $25 in the first part of the…
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Hardest hit industries lead historic rally It was the sectors that have suffered the most in recent weeks that led Tuesday’s mammoth rally, with the S&P 500’s energy names rallying 16.3%, financials 12.8% and industrials 12.8%. Within the industrial sector, airlines had the best day with a 19% gain; Delta Air Lines climbed 21% despite…
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CLS’s Head of Information Services, Masami Johnstone, commented: “We saw average daily traded volumes in February 2020 of USD1.81 trillion, representing growth of 5% compared to February 2019. Over the same comparison period FX swap volumes were flat, the spot market was up sharply at 24%, while there was a decrease in forward volumes of…
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GOLD The gold price finds itself the perfect environment with first the Federal Reserve unleashing its potentially unlimited stimulus package, followed by the closure of some Swiss gold refineries due to coronavirus. Therefore, it is little surprise that the price is jumping, despite the temporary return of risk on sentiment to markets. Moreover, the huge…
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