The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
Mining pulls at FTSE once again
In London, stocks are slipping towards the close of business, as natural resource stocks are bringing down the index.
Disappointing manufacturing figures from China confirmed fears that the Asian giant is cooling off.
The South African rand managed to claw back the ground it lost yesterday, but a sense of fear is still hanging over the currency. We might be in the middle of a ceasefire but the currency war is far from over.
US markets see predictable sell-off
US equities got off to good start considering the sell-off last night on the back of the tapering. Even though the $10 billion taper was predicted the market still sold off, as it is a sign that the gravy train is coming to coming to an end. They later took a dive following abysmal pending home sale figures.
Facebook is in top form as the social media giant smashed expectations after the closing bell last night.
Strengthened dollar hits gold
The US dollar is in demand after the Fed trimmed its stimulus package for a second month in a row.
Gold has consequently taken a tumble as the strengthened US dollar takes the shine off the precious metal.