Market News & Analysis


Top Story

FTSE stronger after carnage in US markets

After the frenzied selloff of US stocks Monday investors seem to have worked off some of the panic over the coronavirus and this morning markets in Europe, though still weaker, are trading in a much calmer fashion. More importantly, all three key US stock futures are higher indicating that Wall Street could have a much better open today. 

The FTSE is also a little bit firmer, with office supplies firm Bunzl topping the gainers’ table thanks to the strong annual profits it released yesterday. 

Japan turns critical 

Despite this morning’s breather markets remain vulnerable as the number of cases outside of China continues to grow fast. South Korea went from having about 230 cases this weekend to 977 cases while Japan warned that the spread of the virus is now on the cusp of rapid spread. 

Euro dips on German economic growth 

German GDP data did not bring much by way of a surprise: economic growth in Europe’s largest economy remained flat on the quarter and grew by only 0.4% on the year. Struggling with weaker demand for its exports in Asia, tariffs on its car exports to the US and the effects of Brexit Germany is now also facing weaker domestic consumption. 

The euro just about held its ground against the dollar after the data but was sliding against the pound despite sterling being under some pressure over unresolved trade issues with Europe. 

 

Disclaimer

This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit cityindex.com.sg for the complete Risk Disclosure Statement.

Important Notice:

Cryptocurrencies are not legal tender currency and trading of derivatives on Cryptocurrencies are currently not covered under any regulatory regime in Singapore. Consequently, investors should be aware they do not have protection under the Securities and Futures Act (Cap. 289). Please ensure that you are fully aware of the risks.