Breaking News
0

FTSE And Pound Shake Off UK Data Horror Show

By Spreadex (Connor Campbell)Stock MarketsFeb 11, 2019 12:01
uk.investing.com/analysis/ftse-and-pound-shake-off-uk-data-horror-show-200206130
FTSE And Pound Shake Off UK Data Horror Show
By Spreadex (Connor Campbell)   |  Feb 11, 2019 12:01
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Both the FTSE and, to a lesser extent, the pound shook off an upsetting morning for UK data.

Everywhere you looked it was bad news. Manufacturing and industrial production dropped 0.7% and 0.5% respectively; preliminary business investment slumped 1.4%; and the construction output plunged 2.8% against the 0.2% increase forecast.

With figures like that it was hardly a surprise the UK posted a pair of godawful GDP readings. For the fourth quarter the economy grew by just 0.2%, worse than the 0.3% estimated and a third of the growth managed in Q3. As for the latest monthly figure, that came in at an alarming -0.4%, making the previously forecast 0.0% stagnation look positively appealing.

Yet, if you glanced at the UK markets, you’d think nothing was amiss. The pound dipped 0.1% against the dollar, unchanged from the open, but actually added 0.1% against the euro. The FTSE, meanwhile, barely blinked at those figures, maintaining a half a percent increase that pushed the index back above 7110.

The eurozone indices were just as buoyant, even if their gains have to be put in the context of last week’s horror show. The DAX reclaimed 0.8% as it tried to climb past 11000, while the CAC managed to clamour back across 5000 with a 0.9% rise.

Not yet quite as excited as its European peers, the Dow Jones is nevertheless set to open in the green, the futures pointing to a 0.2% increase after the bell. The Dow’s overall performance this week is likely going to be dependent on what comes out of the US-China trade talks in Beijing, given Donald Trump’s less than promising comments last week, and the impending ceasefire deadline at the start of March.

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

FTSE And Pound Shake Off UK Data Horror Show
 

Related Articles

FTSE And Pound Shake Off UK Data Horror Show

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
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email