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.
Markets appear to have gotten over the disappointment from the tail end of last week, when the Fed felt unable to raise interest rates. Meanwhile, the Asian markets' positive over night session was nothing to write home about but it set the tone for Europe, which subsequently handed the baton on to US traders as global equities have started the week positively.
The weekend gone saw strongly sourced press speculation claiming Standard Chartered continued to flout US regulators’ rules about business transactions in Iran. This will no doubt gain the attention of US regulators sooner or later, and looks set to ensure that the British bank adds to the $1 billion it has already had to pay in fines since 2007.
German car manufacturer Volkswagen has seen its shares tumble by 13% today as rumours it had been manipulating US emission figures were proven correct. Regardless of the reputational damage this will do to it, the likely regulatory bill will be measured in the billions.
A sense of déjà vu hit traders as they came back to their desks this morning, as the newly elected Greek government had an awfully familiar look about it. Considering this new coalition is being spearheaded by Alexis Tsipras, volatility traders will no doubt be hoping that a re-appearance of Yanis Varoufakis is on the cards as Europe has been noticeably more tranquil since his departure.