Spreadex Market Update
Thursday, February 11, 2016 - Afternoon Market Update
Blood of European banks drowns markets this Thursday morning
The main pain is being felt on the continent, with Credit Suisse hitting a 25 year low and Societe Generale (which warned it may miss its profit targets for 2016 due to the dual pressures of tighter regulation and the current market conditions) dropping a whopping 12%. They weren’t alone; arguably the stock that kicked off the week’s woeful trading, Deutsche Bank has lost a huge chunk of yesterday’s market-lifting rebound with a 6% plunge this morning. This left the DAX down by around 2.4% (with the German index recovering slightly from its 3% fall earlier in the day), whilst the CAC (dropping over 3%) is battling it out with the Spanish Ibex and Italian FTSE MIB for the title of Worst Performing Index this Thursday.
Not that things were any better at home; though the FTSE has just about risen from its earlier 3 and a half year lows, Brent Crude is still worryingly teetering on the edge of renewing its recent 12 year nadir. And whilst the miners may have calmed somewhat, Rio Tinto shrinking its losses from 8% to around 4%, the worsening situation in the UK banking sector, led by a 6.5% fall from Barclays, has used up any slack the FTSE may have been able to find from a slighter less dramatic set of commodity stocks.
Can the US indices ride in to save the day this afternoon? It looks like they can’t, with the Dow Jones facing its own 300 point fall (continuing on from last night’s late lunge into the red) when the bell rings on Wall Street. It looks like the day’s jobless claims (for what it’s worth expected 2k higher at 287k) will pass by without much fanfare, whilst Janet Yellen is unlikely to provide anything fresh for the markets to chew on when she appears in front of Congress later this afternoon.Recent Posts:
Stock of the day 11/02/2016 - BAE Systems PLC
Morning Market Comment 11/02/2016
Evening Market Comment 10/02/2016
Afternoon Market Comment 10/02/2016
Stock of the day 10/02/2016 - Manchester United PLC
For further information on the trading day ahead, take a look at our Financial Diary
, which previews all the Economic Data due out to today and projected or previous figures.
Our Financial Diary is updated in real time as the figures are released throughout the day.
If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide
For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.
For market trends and analysis, don't forget our charts have automatically generated support and resistance trend lines helping aid your financial spread betting
with technical analysis. For more help on using our charts, view our Guide to Trading with Charts
Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone so please ensure you fully understand the risks involved.
Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.
No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.
The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com