Market News & Analysis


Top Story

Halma and Intertek lift FTSE

The FTSE has rallied over 1% this morning boosted by some election optimism and pulled higher by hazard detection equipment maker Halma and assurer Intertek.

European car manufacturers are enjoying a moderate rally following data showing that EU consumers’ love of new cars has not abated despite Brexit, the slowing economy and shifting political landscape in the European Union. It has in fact risen to the highest level in ten years. VW, Peugeot, Renault and Daimler are all trading higher as are oil firms.

Easyjet surprises with results

Budget airline Easyjet surprised with a rise in full year pretax profit and forward bookings for next year which are slightly exceeding this year’s level. However, once the extra items are stripped the picture is closer to that seen in the airline industry over the last few years: slowly declining consumer confidence, rising costs and reduced revenue per seat. Still, the airline may be able to make up for some of the decline with the launch of its package holiday business planned before Christmas which will step into the space left by the collapse of Thomas Cook.

Sterling flat ahead of TV debate

Sterling is trading nearly flat against the dollar and the euro after hitting a six month high against the latter yesterday. Boris Johnson’s strong lead in the polls and the implied benefits for businesses if he manages to establish a parliamentary majority made the pound the strongest performing G-10 currency Monday. Today the market has turned a little quieter, trying to assess if all of the upside has already been counted in. Later this evening Boris Johnson and Jeremy Corbyn will go head to head in a television debate, expected to make many spending promises that may later be difficult to see through because of the state of the UK economy and slower global growth.

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.