Wij gebruiken een aantal cookies om u de best mogelijke browser ervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer leren over ons cookie-beleid of door op de link te klikken onderaan iedere pagina van onze website.
The London market is somewhat sheltered from the uncertainty in the eurozone, but whenever there is a decline in continental Europe the British market isn’t far behind. The value that was added to eurozone stock markets on the back of QE is quickly being eroded due to Greece, and with the payback deadline looming dealers are doing their utmost to get out.
The disappointing CPI and PPI numbers from China overnight has kept commodity related stocks under pressure; it says a lot about Chinese demand when prices are still negative after all that monetary easing.
HSBC shares are fractionally lower this morning after the bank revealed a cost-cutting plan which will see $5 billion saved per year, but remove up to 25,000 jobs. HSBC has been swinging the axe since the credit crisis, and the latest move is seeing the bank make an exit from emerging markets like Turkey and Brazil. The bank has bulked up on compliance staff over the years, and now it is looking to drop non-core operations and this is going to be the new model for the firm. HSBC might be getting back to its Asian roots as a way of avoiding the EU question and focusing on the Far East.
We are expecting the Dow Jones to open 25 points higher, at 17,790, as the market recoups some of its losses from last night. The US market has little on as corporate reporting is thin and economic announcements are also light, and even though Europe isn’t exciting at the moment, the US will take its direction from there.
Apple shares are trading higher in the pre-market after the company announced plans to break into the music streaming business.