Another tense G20 meeting, and a 20% drop in profits at Ryanair (LON:RYA), kept the European markets in the red as Monday progressed.
The FTSE managed to ease its losses as lunchtime approached, though remained down by around 30 points to linger at 7650. It appears to have been helped slightly by Trump’s threats towards Iran, however hollow, boosting Brent Crude, with the black stuff climbing back above $74 per barrel following a 1.7% rise.
The pound, meanwhile, abandoned its meagre growth against the dollar, slipping back under $1.313, but did rise 0.2% against the euro, taking sterling towards €1.122, a level it fell from last Thursday.
Over in the eurozone things were mixed across the board. While the CAC couldn’t shake the 0.6% drop seen in the early moments of the session, the DAX shrank its decline to just 0.2%, putting a bit more distance between it and 12500.
Turning to the afternoon and the Dow Jones is set to avoid the heavier losses initially seen in Europe as the week began. The futures have the Dow dipping 0.1% when the bell rings on Wall Street, allowing the index to keep above the 25000 it re-crossed a couple of weeks ago.
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.