Sunday 27th May 2018
Mike van Dulken and Artjom Hatsaturjants at Accendo Markets, commented to clients this morning: FTSE 100 Index called to open +45pts at 7760, rebounding from yesterday’s 7710 low to challenge the ceiling of 2-day falling channel from Monday’s record peak. Bulls need a break above 7780 to inspire confidence that a 2.5% correction sufficed to consolidate the 15% rally from late March. Bears require a break below 7750 to hint at a revisit of yesterday. Calls for a positive open come in spite of minor losses in Asia, where investors were skittish after President Trump cancelled the US-NK summit, blaming “open hostility”. However, North Korea has already offered an olive branch, saying “still open” to negotiations, helping Asian markets and Wall St pare losses. FTSE support derives from GBP weakness, reversing yesterday’s retail sales inspired jump, after Brexit talks broke down in acrimony in Brussels. UK ultimatums on unrestricted access to the Galileo satellite project were criticised as “fantasy”, the UK wanting membership benefits without corresponding responsibilities. BoE Governor Carney also warned last night that a disorderly Brexit might require another interest rate cut to support the economy. Despite geopolitical concerns, gold is off its “summit-cancellation” highs, pushed lower by fresh USD strength (world’s reserve currency and thus a safe haven of sorts), adding to reciprocal GBP weakness to help the FTSE. Energy may remain under pressure after oil traded lower on both a stronger USD and hints from OPEC and Russia about winding down voluntary production cuts to offset supply disruptions (Venezuela/Iran) --

Latest Video

With 2013 over, Interactive Data's US Fixed Income evaluation team reviews the US Fixed Income market over the last 12 months.

Read more...

The markets this year have started with a bullet. The current bull market hints that investor confidence might be rising as the debt crisis in Europe looks to be under control and the US is managing its fiscal cliff. What are the implications of this sea-change? Carey Olsen, which advises on the largest total number of funds and assets under management in Guernsey, believes there will be slow and steady growth in both fund creation and the breadth of investments they adopt. Corporate partner, Graham Hall, examines where this growth will come from and what innovations investors and private equity houses are employing to realise returns.

Read more...
  • MEPS set out a new vision of Europe: on the mark or off it?
    Brexit, the rise of populist nationalist democracies in Europe and the US, nervous relations with Russia and a global marketplace in flux are the backdrop issues against which European parliamentary members now seek to carve an improved, effective and more responsive European Union. Is it the last gasp of the ancient regime? Or is it a viable blueprint fit for this century?
  • Europe reboots: union starts to raise its game in advance of Brexit
    Brexit has done more than announce the intention of the UK to leave the EU. It looks to have catalysed a commitment from remaining members to raise their game. MEPs look to be rebooting the Union’s outlook, with a focus on diplomacy, development and defence. Specifically it says the union’s development policy needs new impetus to tackle climate change, migration security challenges, and the reduction of delays in EU-funded projects that stimulate growth and job creation. Moreover, Eurogroup president Jeroen Dijssebloem, in a speech yesterday laid down a marker that the union will not trend towards unilateralism. “The road to populism is paved with paralyzed politicians, and that is now our biggest threat. In other words: let's hold on to that unique European social model and modernize it so it can survive in the future,” he said.
  • Is the ECB capable of restoring eurozone growth?

OIL INDEX

Cryptocurrency Price

Blog

  • Thursday, 17 May 2018 14:11 The Innovation Capacity Scale
    The speed of change in the asset management industry is unsustainably slow and unless firms become more adept at accelerating their evolution, they will suffer…

Thank you for using our website.  As an independent provider of news and analysis we are grateful for your support. We want to keep our journalism as open as we can, because we believe that you shouldn't have to pay a fixed and sometimes expensive subscription for the same news that we manage to deliver to you without a restrictive paywall. You can help us by making a small contribution to help keep our news free to all users. Please take the time to consider supporting us and helping keep our service accessible to all users. Thank you.