Market News & Analysis


Top Story

FTSE weakens in countdown to poll

Pre-election tensions are running high, not only  in the UK political arena but also in the markets. The FTSE opened a fraction higher but then slipped into the red as more UK-focused stocks such as Auto Trader Group, Hargreaves Landsdown and Barratt Development lost ground.

The top faller, however, was JD Sports. The firm’s largest shareholder Pentland Group sold around 24 million shares in the company causing a wider selloff that resulted in a 9.16% decline in the share price. Firmer share prices for miners and pharma companies slowed down the FTSE’s decline.

Pound nudges lower on doubts over a clear win


Less than 24 hours to go until the polling stations open and the pound is losing a little bit of ground to the dollar. Last minute headlines have slightly eroded the Conservative lead over Labour, bringing with it the prospect of a hung Parliament, and lurking in the shadows, the implied deadlock over Brexit.

Oil corrects slightly while Aramco soars at IPO

Brent crude has moved up to trade in a slightly higher channel since the OPEC meeting last week but this morning prices have slipped to the bottom of the new range, just above $64.

The long-awaited listing of Saudi Arabia’s Aramco on the Riyadh stock exchange went with a bang as shares soared and reached their 10% daily limit early in the session. For the moment Aramco will play a positive role for oil prices but the bigger crunch will come next week when the US has to decide on new China tariffs.

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.