|Day's range||7,194.21 - 7,251.80|
|52-week range||6,536.50 - 7,727.50|
Investors took no chances upon hearing the news. Besides driving stocks lower and erasing some of Friday’s gains, hedgers drove December Treasury Notes 0.46% higher. December Comex gold futures rose 0.73% and the Japanese Yen jumped 0.24% higher. These protection moves are likely to increase if investors continue to turn sour on the deal.
The FTSE 250 ended slightly off the day's lows but still shed 0.6%, handing back part of the more than 4% gain it had recorded in the previous session which was its best in nearly a decade. Britain and the European Union said over the weekend that a lot more work would be needed to secure a Brexit agreement. JP Morgan's UK domestic plays index , tracking about 30 UK stocks that make all or most of their revenue at home, pulled back nearly 1%.
European stock markets dropped at the start of trading on Monday, brushing aside strong Asian gains following a partial trade deal between China and the United States. Meanwhile the pound was down around ...
Europe’s stock markets were brought down to earth on Monday by Chinese data that showed how much economic activity has slowed reminding participants that it will need more than grand words and handshake deals to revive a global economy hobbled by various trade-related uncertainties.
It is a big week ahead, with corporate earnings, trade talks, Brexit and economic data in focus. There’s also the IFM meetings and the EU Summit.
Investors pounced on everything from banks like RBS to housebuilders and retailers such as Kingfisher , which owns DIY chain B&Q, after British Prime Minister Boris Johnson and his Irish counterpart, Leo Varadkar, said they had found "a pathway" to a possible Brexit deal. The buying spree targeted some of the market's most beaten-down stocks and those considered most vulnerable to a downturn in consumer spending if the country crashes out of the European Union without a deal.
The FTSE 100 ended 0.3% higher, after flipping back and forth during the day on mixed signals over the state of affairs between Beijing and Washington, while the midcap index that has a greater UK exposure also rose by the same level. Spirits company Diageo , consumer goods giant Unilever and AstraZeneca were among stocks hammered the most, causing the FTSE 100 to lag other major indexes. Stocks vulnerable to a hit from Brexit, on the other hand, overpowered those losses.
Reports that China was still open to agreeing to a partial trade deal with the United States, and that Beijing was offering to increase its annual purchases of U.S. agricultural products, came as signs of compromise, but analysts remain skeptical. "At first glance, recent news provides at least some reason to be a bit more optimistic about the U.S.-China trade talks," wrote Raoul Leering, head of international trade analysis at ING in a note. Exporter-heavy German shares added 1% and the pan-European STOXX 600 index rose 0.4% recovering from Tuesday's 1% decline when hostility from both sides in the U.S.-China dispute dented sentiment.
European stock markets rose at the start of trading on Wednesday, with London's benchmark FTSE 100 index up 0.2 percent at 7,158.32 points. In the eurozone, Frankfurt's DAX 30 index climbed 0.2 percent ...
FT subscribers can click here to receive Market Forces every day by email. Trade tension and Brexit are two long-running stories for investors and on Tuesday the cracks in the ground for markets are a little wider.
Broader gains were fuelled by hopes of an end to the stand-off between the world's largest economies, with U.S. President Donald Trump saying his administration had a "very good chance" of making a trade deal with China. The FTSE 250 missed out, however, ending 0.3% lower.
Neil Woodford’s stricken Equity Income fund has shrunk 20 per cent in four months as more than a dozen holdings have tumbled in value, inflicting further harm on the hundreds of thousands of investors trapped in the vehicle since its June suspension. The fund is expected to suffer an investor exodus if and when it reopens, raising doubts about the future of the business. “There may be some investors that decide to ride out any volatility but whether there will be enough assets left after the reopening for the company to continue as a going concern remains to be seen,” said Peter Brunt, associate director for equity strategies at Morningstar, the data provider.
National Grid would “absolutely consider” relinquishing its role managing Britain’s electricity system to an independent body if policymakers decided it was the “right thing to do”, according to the company’s chief executive. John Pettigrew told the Financial Times he would be likely to sit down with the UK government and Ofgem, Britain’s energy regulator, next year to look again at how the country’s electricity system is operated.
When the UK’s 350 largest listed companies finally hit the milestone of having 30 per cent of board roles being held by women this week, it was a landmark achievement for the City of London’s diversity campaigners. Both the 30% Club and the government-backed Hampton-Alexander review focused on getting more women into the boardroom as a first step in improving gender diversity. “There is no shortage of capable women willing to take the top job, they are just not getting picked,” said Denise Wilson, chief executive of the Hampton-Alexander review, which is due to publish its annual report on FTSE women leaders next month.
Dire economic data throughout the week tested the majors. A fall in the U.S unemployment rate eased the pain on Friday, but only a little.
Hopes of deals around the world gave global markets that Friday (October 11) feeling. Asian shares jumped after a first day of trade talks between U.S. and Chinese delegates. Donald Trump described the discussions as "very very good", and has agreed to meet with China's top trade negotiator. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.3 percent. The bullish market mood continued in Europe. The pan-European STOXX 600 climbed 0.5 percent with shares in Frankfurt up 0.8 percent. Germany's SAP helped with that. Its shares jumped 7.4 percent after the world's leading enterprise software firm pre-released strong Q3 results, as well as news that its CEO is stepping down after a decade at the helm. Bill McDermott is handing the task of completing SAP's transition to cloud computing to new co-CEOs Jennifer Morgan and Christian Klein. It ends an an era in which McDermott struck a string of multi-billion-dollar deals. They built SAP into Europe's leading technology group, but also created complexity that frustrated many clients. Tech sector shares were up 2.5 percent - touching a two-month peak. There was respite from Brexit gloom too. Irish Prime Minister Leo Varadakar said on Thursday (October 10) that a Brexit deal could be clinched by the end of October. That followed a meeting in the UK with Boris Johnson. Bucking the trend though was London's FTSE 100. It shed 0.3 percent as shares of export reliant firms took a beating from a firm sterling.