Spreadex Market Update

FTSE and co. resume recession-fearing sell-off, sterling admirably steady



The negative trading that marred the end of last week carried through the Asian session and into the European open on Monday.

The FTSE – which was brutalised on Friday thanks to a mix of sterling’s Brexit-extension rebound and wider fears about the global economy sparked by the Fed’s uber-dovishness and some terrible data out of the Eurozone – swiftly dropped 40 points after the bell. That dragged the UK index quite a way under 7200, and left it at its worst price in approaching a fortnight, having spent a good chunk of last week at 5-month highs.

These losses were echoed by the Eurozone. The DAX fell another 0.3%, which doesn’t sound too bad, but puts the German bourse at a 5 and a half-week low, while the CAC slipped half a percent to tumble under 5250.

Sterling was admirably steady as what was meant to be Brexit week got underway. Dipping just 0.1% against the dollar and the euro, the currency avoided a major wobble despite the headlines being filled with speculation over the short-term viability of Theresa May’s premiership. It may be a case of the overwhelming uncertainty as to which way the Brexit winds will blow this week holding the pound relatively in place until a modicum of clarity emerges out of the chaos.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Economic Diary

23.04.26

Read More

Financial Trading Blog

Gold Wobbles Ahead of Global PMIs

Read More

Daily Market Update

22.04.26 Wednesday Morning

The S&P 500 closed lower on Tuesday as doubts over the Iran ceasefire weighed on sentiment, while the US dollar...

Read More

Economic Diary

22.04.26

Read More

Financial Trading Blog

FTSE 100 Under Pressure From Oil Ahead of CPI, Sainsbury's Earnings

Read More

Economic Diary

21.04.26

Read More

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

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.