|Day's Range||6,704.05 - 6,868.27|
|52 Week Range||6,673.60 - 7,903.50|
A busy week ahead will see Britain’s fate become all the more clear, with the ECB delivering on policy. On the risk front, U.S and China will be in focus.
Oil prices continued to fall on Friday, as the Organization of the Petroleum Exporting Countries (OPEC) struggled to come up with an agreement on cutting oil production. West Texas Crude oil futures for January slumped 0.43% to $51.27 a barrel, while Brent crude futures, the benchmark for oil prices outside the U.S., rallied 0.17% to $60.16. The Thursday session of the OPEC meeting in Vienna ended without any decision on cutting oil supply, as Iran seeks an exemption from any cuts due to U.S. sanctions which have already weighed on its exports.
The pan-European Stoxx 600 was up over 1.6 percent by the mid-afternoon, with all sectors and major bourses in positive territory. Market focus is largely attuned to tensions between the world's two largest economies, after the arrest of Huawei's chief financial officer threatened to derail progress in U.S.-Sino trade talks. Germany's Fresenius SE tumbled to the bottom of the index after the healthcare group slashed its medium-term guidance late Thursday.
The FTSE 100 on Wednesday closed below the level seen at the end of 1999, and extended its declines on Thursday. The benchmark gauge today fell 3.2 percent, the worst drop since June 2016, matching the magnitude of the decline following the Brexit referendum on a closing basis. The renewed sell-off in global equities is piling additional pressure on U.K. stocks, already rocked by concerns about U.K Prime Minister Theresa May’s ability to get her Brexit deal through Parliament.
With just a few months to go, Britain’s exit from the European Union still presents a baffling array of potential outcomes, including everything from the government being overthrown to a second referendum. Right now, markets appear to have eased up on no-deal bets ahead of the Dec. 11 vote that threatens to torpedo Prime Minister Theresa May’s accord with the European Union. The calculation is that the chances of delaying or even ditching Brexit are increasing.
The pan-European Stoxx 600 fell more than 2.2 percent during mid-morning deals, with all and major bourses sectors in negative territory. Market focus is largely attuned to the arrest of a top executive at Chinese tech giant Huawei, amid investor concern that the news could derail progress in U.S.-Sino trade talks. European stocks retreated Thursday morning, amid fears of a fresh flare-up in tensions between the world's two largest economies.
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The FTSE 100 Index of stocks fell on concern a stronger pound will depress earnings of export-oriented companies, while gilts slid on speculation that avoiding a no-deal exit would prompt the Bank of England to raise borrowing costs sooner. While Prime Minister Theresa May is still expected to lose a vote next week on her divorce agreement, Parliament’s vote late Tuesday giving lawmakers the potential to decide on Britain’s “plan B” has reduced the chances of the country crashing out of the EU in March, according to Investec Asset Management and MUFG. “What is becoming clear to all is that this government is increasingly at the mercy of MPs in Parliament and given the overwhelming opposition to a ‘no-deal’ Brexit, the prospect of that has diminished further,” said Derek Halpenny, MUFG’s European head of global market research.
The pan-European Stoxx 600 slipped around 0.8 percent during mid-morning deals, with almost all sectors and major bourses in negative territory. Market focus is largely attuned to global trade developments, amid rising doubts that the world's two largest economies will be able to secure a comprehensive trade deal during a cease-fire on tariffs. Trading volumes are expected to be relatively low on Wednesday, with U.S. stock markets closed as citizens observe a national day of mourning for President George H. W. Bush.
Yesterday's strong rally in world equities proved to be shortlived as doubts surfaced about the lack of detail in the trade truce between the US and China
“We don’t think about macroeconomics, we don’t think about interest rates, we don’t think about Trump, we don’t think about politics or Brexit,” said Kevin Murphy, who helps run the $1.5 billion Schroder Income Maximiser Fund, which has beaten 98 percent of peers in 2018 by focusing on U.K. value shares. Geopolitics along with concerns about rising U.S. interest rates have pummeled European stocks in 2018, with the Stoxx Europe 600 Index poised for its worst year since 2011. Just one strategist surveyed by Bloomberg in January had forecast the European market’s 2018 decline, made worse by Italian and U.K. political melodramas.
The pan-European Stoxx 600 was down around 0.4 percent during mid-morning deals, with most sectors and major bourses in negative territory. Market focus is largely attuned to global trade developments, after news of a temporary trade truce between the U.S. and China had sparked a global rally in equity markets in the previous session. Meanwhile, oil prices continued to rise after surging more than 4 percent at the start of the trading week.
The pan-European Stoxx 600 was up more than 1.6 percent during mid-morning deals, with almost all sectors in positive territory. Germany's DAX index led the gains among the major bourses, surging around 2.5 percent Monday morning. Market focus is largely attuned to global trade developments, after Washington and Beijing effectively agreed to pause their trade war and work toward a more comprehensive pact.
Investors are frantically trying to predict the economic fallout from the U.K.’s exit from the European Union. Inc. executive has been a prominent voice in a chorus of warnings about the economic and financial dislocation that could result from Brexit. The Bank of England in a report this week suggested a disorderly break with the EU could leave the economy a 10th smaller in five years, potentially triggering the deepest recession since the Great Depression.
Leaders from around the globe are set to discuss key issues during this two-day G-20 summit, with many investors paying close attention to two leaders in particular: President Donald Trump and China's President Xi Jinping. Investors are paying special attention to a meeting between President Donald Trump and China's President Xi Jinping.
Jerome Powell said that he deems the Fed's benchmark interest rate to be close to a neutral level, marking a step away from comments made in recent months. In individual stocks news, Britvic shares rose more than 5 percent after it said its sugarless drinks had boosted sales. European stocks moved higher on Thursday morning, on the back of a key speech by Federal Reserve Chair Jay Powell.
On an upbeat day for markets so far, US investors are looking ahead to GDP data and a speech from under-fire Federal Reserve chairman Jerome Powell in New York
Britain's top stock index will claw back some ground next year after a bruising 2018 but gains will be much more muted than originally expected, brokers, fund managers and analysts predicted in a Reuters poll on Wednesday. Investors must navigate Britain's formal exit from the European Union in March and some see a likelihood of a snap general election next year too, opening the possibility of a Labour government replacing the ruling Conservatives. While the previous Reuters poll in August saw the FTSE 100 almost reaching its May 2018 record high of over 7,900 by the end of next year, the Nov. 13-27 survey knocks 400 points off that estimate.
The pan-European Stoxx 600 edged up around 0.1 percent during mid-morning deals, with sectors and major bourses pointing in opposite directions. What investors are keeping an eye on: trade relations between China and the U.S., Brexit, Italy's economy and a speech by Fed Chair Jerome Powell. European stocks were slightly higher Wednesday morning, as investors attempted to decipher conflicting signals over the potential for a reprieve in the U.S.-Sino trade dispute.
Tit-for-tat trade war talk between China and the U.S. is back on the agenda, ahead of a G-20 summit. Travel and leisure stocks were lower on the back of a profit warning by Thomas Cook. European stocks dropped on Tuesday, as investors monitored a number of political events including Brexit and Italian budget plans, and digested further comments from President Donald Trump.