Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

FTSE Backslides From 4-Month Highs Despite Oil Rise

Published 18/02/2019, 09:16
Updated 21/10/2020, 09:15

Despite oil hitting a 3-month high, and the lingering tang of trade talks optimism, the markets weren’t too keen to get back to work on Monday.

The FTSE was the laziest of the European indices, backsliding by 0.2%. With another week of Brexit limbo on the cards – Theresa May is off to Brussels once again, trying to re-negotiate the EU’s non-negotiables, leaving the various Tory factions to seethe back home – and the absence of the US markets this afternoon thanks to Presidents’ Day, there was little real impetus for the UK index to move any higher, especially given it ended last week at a fresh 4-month peak.

The pound was only slightly more energetic. Against both the dollar and the euro it rose 0.1%, nearing $1.29 against the former while holding above €1.141 against the latter. Brexit-surprises aside, sterling’s big moment this week is Tuesday’s UK jobs report, so Monday might see the currency stuck in a bit of a holding pattern.

Those looking to the eurozone for a smidge more excitement were out of luck. Though there is plenty of data for the region to chew on this week, with any figures from the flagging economies of Germany and Italy of special interest, none of the good stuff is on Monday, leaving the DAX down 0.1% and the CAC unchanged at 5150.

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.