While the Dow Jones avoided any serious losses this Friday, the European indices weren’t as lucky.
The Dow managed to hang out at 26000 after the bell, its 25 points increase allowed it to keep above the landmark level it returned to early in the week. What’s interesting about the index’s chill open is that it means US investors are ignoring the various trade wars – China! The EU! Canada! The WTO! – concerns dragging the European markets lower.
The eurozone remained the worse hit region. The DAX fell 0.7%, which is admittedly better than the 1.1% drop seen about lunchtime and did allow the German index to nudge back above 12400, while the CAC shed a cool 1%, the French bourse slipping towards 5400,
As for the FTSE, it couldn’t shake its half a percent decline, sitting the wrong side of 7500 thanks to a sour day of trading from its commodity stocks. Saving the UK index from a larger loss was Whitbread (LON:WTB), which rose 16% as investors celebrated the shock announcement that Coca-Cola (NYSE:KO) would be buying Costa Coffee for £3.9 billion.
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."