With the Dow Jones losing around 200 points by the end of Tuesday’s trading, the European markets were once again subdued on Wednesday morning, continuing to bide their time until the weekend’s presidential parlay between Trump and Xi.
While managing to remain above 7400 – something it failed to do at the start of yesterday’s session – the FTSE was nevertheless down 0.2%. This despite further gains for Brent Crude, which jumped 1.7% as the US and Iran amped up the animosity, and the subsequent half a percent growth from BP (LON:BP) and Shell (LON:RDSa).
Boris Johnson’s pledge to take the UK out of the EU on October 31st ‘do or die’ left sterling feeling a bit dodgy. Cable slipped 0.2%, falling under $1.267 for the first time in almost a week; against the euro the pound stumbled to a fresh 5 and a half month low of €1.115 after dipping 0.1%.
The Eurozone was feeling antsy this Wednesday, the DAX and CAC shedding 0.3% apiece. That pushed the German bourse to a sub-12200, 8-day low, while leaving the French index back at 5500.
Bitcoin’s recent resurgence showed no signs of slowing down. Instead the cryptocurrency – immensely aided by the launch of Facebook’s Libra, which appears to have renewed interest in the product and acted as further legitimisation of the market – hurtled nearly 11% higher on Wednesday, rocketing to $12,600 for the first time since the end of 2017.
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved.