Short-lived benefits from ECB's actions

Momentum has ground to a halt in the FTSE 100 following the European Central Bank’s statements yesterday, as traders have a distinct 'what now' mentality.

London skyline
Source: Bloomberg

Once again BP is in the headlines for all the wrong reasons after yesterday’s US court ruling over its 'gross negligence'. This has opened up the possibility of a further $18 billion in fines and will probably encourage a fresh round of private litigation. Institutional investors will be sitting on the edge of their chairs wondering if BP will feel the need to suspend its dividend.

Also suffering at the hands of US regulators are Smith & Nephew, who have been fined $11.3 million for misleading consumers into believing its Malaysian-made products had come out of the US.

Laura Ashley has benefited from the more buoyant Chinese economy after its first-half sales increased by 15%.

Barclays look to be leading the banking revolution, as far as tackling fraud is concerned, as it launches finger scanners for its corporate clients.

The first Friday of the month can mean only one thing, non-farm payroll figures from the US. Considering the general improvement in US data we have been seeing throughout August, traders will be keeping a close eye out for any upward revisions. Any further good news out, at 1.30pm today, could keep the pressure on both the EUR/USD and the GBP/USD.

Ahead of the US open we are expecting the Dow Jones to open down by five points at 17,064.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.