Commodities NewsFinancial NewsForex NewsNewsStock Market News

Markets Opening: 5 things to Start Your Day London Edition

Markets Opening: 5 things to Start Your Day London Edition

Bloomberg’s Market Update

Welcome to your morning markets update, delivered every weekday before the European open.

Good morning. Equities start the week in the red following an update on the U.S.-China trade war, hopes of a Brexit deal by Halloween continue to fade and Antonio Costa was victorious in Portugal’s election. Here’s what’s moving markets.

China Narrows Scope
Chinese officials on recent visits to the U.S. have indicated the range of topics they’re willing to discuss as part of a potential trade deal has narrowed considerably, people familiar with the matter told Bloomberg. That’s hurt optimism that a broad agreement could be reached ahead of Vice Premier Liu He heading to the U.S. capital for high-level talks Thursday. Asia stocks mainly slipped overnight, with the region also faced with flaring violence in Hong Kong and apparently fruitless North Korea denuclearization talks at the weekend.

Brexit Breakthrough Fades
With just under four weeks to go until the deadline, prospects of a Brexit deal faded after talks between the two sides stalled and European leaders cast doubt on reaching an agreement in time. France and Ireland both signaled they want progress by Friday, while U.K. Prime Minister Boris Johnson sounds as defiant as ever. Accord to a Sunday Times report, Johnson wouldn’t leave Downing Street even if he was to lose a confidence vote, challenging the Queen to fire him instead. Here’s how U.K. markets could be impacted in each of the three current potential outcomes.

Portugal Proves its Stability
No surprises in Portugal. As polls had predicted, Socialist Prime Minister Antonio Costa won a parliamentary election on Sunday and will remain in the government for a second term. Costa boosted his number of seats but will be short of an outright majority. Addressing supporters on Sunday night he said he’s willing to renew his informal alliance with the Communists and the Left Bloc, the parties who helped him govern in his first term. The country’s PSI 20 shares benchmark is up 3.7% so far this year and Portuguese stocks and bonds could be in focus later.

Factory Data Eyed
German factory order data were not always particularly high on the agenda, but that changed last month after a weak reading gave weight to concerns that Europe’s biggest economy was teetering toward recession. Since then, statistics from other nations have followed suit, culminating with last week’s U.S. ISM Manufacturing shocker, which showed a contraction for the first time in three years. Investors will have a close eye on today’s release from Germany, while you can find out what other big numbers economists have their eyes on this week by reading this.

Coming Up…
Spain’s Repsol S.A. from the oil and gas sector is on the earnings calendar and HSBC is cutting up to 10,000 jobs in a cost-savings drive, accordingto an FT report. Elsewhere, Nobel prize season starts today, with medicine kicking things off. Economics isn’t due to be announced until next Monday.

Another Note: According to JP Morgan, Market correction could be half over.

And we go back to our charts…



Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.


Discord Channel

You can contact us via Skype User Name: Chartreaderpro

DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.