Spreadex Market Update
Wednesday, March 09, 2016 - Morning Market Update
European indices see tentative gains ahead of UK manufacturing production figures
Whilst the index rose around 15 points after the bell the FTSE couldn’t really muster the same momentum as its European peers this Wednesday. A mixed performance from its commodity sector is causing the index to slightly lag its continental cousins, Brent Crude remaining just under $40 per barrel following the yesterday’s obstinate reaction from Kuwait in regards to a potential oil output cut.
Yet this is still an improvement on the negative trading seen at the start of the week, and could blossom into something more substantial once investors have gotten a gander at the morning’s UK industrial and manufacturing production figures. A constant source of global woe any improvement in the sector will be welcomed, with the former expected to jump to 0.6% from last month’s -1.1% and the latter forecast to see a milder increase from -0.2% to 0.2%.
Interestingly despite the proximity of tomorrow’s ECB meeting, with the market uncertainty over how Mario Draghi interprets ‘whatever it takes’ this time around contributing to the week’s jittery trading, the DAX and CAC have managed to rise by around half a percent this Wednesday. Whether it suggests a significant shift in sentiment is unclear, however, with investors seemingly trying to juggle their expectations of drastic action and the memories of last December’s Draghi disappointment.Recent Posts:
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