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

Oil Losses & Sterling Rise Trim FTSE’s Losses, Dow Jones Aiming For 800 Point Rise

Published 06/04/2020, 12:47
Updated 21/10/2020, 09:15

While the FTSE lost a step as Monday went on, the Eurozone bounded forward on hopes that the various lockdowns across the continent are having the desired effect.

The UK index’s main problem seemed to stem from the oil sector. Up as much as 3.6% after the bell, the FTSE saw its gains trimmed to just 2%, leaving it just above 5500. This as BP (LON:BP) and Shell (LON:RDSa) slipped into the red, falling 1.5% and 0.6% respectively, following the lead of Brent Crude, which was down 3.1%.

No doubt sterling’s own gains also hampered the FTSE. The pound rise 0.4% against dollar and euro alike, the currency reassured by housing minister Robert Jenrick’s claim – however accurate – that Boris Johnson would be ‘back at Number 10 shortly’ following his hospital admission.

In contrast to the FTSE, the Eurozone indices maintained their strength as the morning went on. The DAX rose 4.3% to near 9950, while the CAC remained a smidge shy of 4300 with a 3.3% increase.

The Dow Jones futures have slowed a tad from their initial promise, the index now looking at an 800 point increase rather than a 900 point surge. That would lift the Dow to 21850, at the upper end of the 21000 to 22000 trading bracket it has spent the last week or so living in.

"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.