Breaking News
Get 40% Off 0
👀 Reveal Warren Buffett's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Dow Jones Eyeing Fresh High; FTSE Muted Due To Pearson Losses; Pound Rebounds

By Spreadex (Connor Campbell)CurrenciesJan 16, 2020 08:58
uk.investing.com/analysis/dow-jones-eyeing-fresh-high-ftse-muted-due-to-pearson-losses-pound-rebounds-200436716
Dow Jones Eyeing Fresh High; FTSE Muted Due To Pearson Losses; Pound Rebounds
By Spreadex (Connor Campbell)   |  Jan 16, 2020 08:58
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
GBP/USD
+0.09%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUR/GBP
+0.03%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
UK100
+0.65%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FCHI
-0.14%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+0.12%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DE40
+0.39%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Though analysts failed to muster too much enthusiasm for the signing of the US-China trade deal – instead focusing on the multitude of issues not covered by the agreement – the Dow Jones nevertheless struck a fresh record high in its aftermath.

Crossing 29000 once again, the Dow is actually set to push past 29100 for the first time in its history later this Thursday. This despite a persistent sense of dissatisfaction surrounding what the ‘phase one’ deal failed to achievement, and the difficulties of facing the superpowers ‘phase two’ – if there is even the appetite from Washington and Beijing to begin another set of negotiations.

With the Dow setting the tone last night, the European indices chose to indulge in a bit of positivity. The DAX once again neared 13500 as it jumped half a percent, while the CAC climbed to 6060 as it rose by the same amount.

Lagging behind was the FTSE, which at best added 0.1%; enough to send it to a 3-week high of 7650, but still a disappointment.

There were a few things pinning the UK index back. Firstly, the pound rebounded after what has been a week of bad data and rate cut chatter, rising 0.3% against the dollar and 0.2% against the euro.

Then there was another wave of weak post-Xmas earnings for the FTSE to swallow. Pearson (LON:PSON) fell 11% following its latest update, investors troubled by both 2019’s operating profit being at the bottom of the firm’s guidance, and the prospect of a further £10 million to £80 million decline in 2020.

Whitbread (LON:WTB), meanwhile, tumbled 4.7% as a 1.3% drop in third quarter like-for-like sales drew focus from a 1% rise in total sales growth, alongside a London-driven 0.3% increase in UK business.

Providing something of a buffer for the FTSE was Associated British Foods (LON:ABF), which climbed 2.8%. This as like-for-like growth at Primark took the heat off a dip in operating profit margins, while AB Sugar and AB Agri saw 5% and 10% sales growth respectively.

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.

Original Post

Dow Jones Eyeing Fresh High; FTSE Muted Due To Pearson Losses; Pound Rebounds
 

Related Articles

Dow Jones Eyeing Fresh High; FTSE Muted Due To Pearson Losses; Pound Rebounds

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email