British banks under pressure
The possibility of economic sanctions being imposed on Russia by the west could lead to a tit-for-tat economic war.
Crumbling copper prices have dragged the mining sector lower; weaker demand from China is prompting the slide in mineral extractors.
Traders are gorging themselves on IPO’s. Alibaba is on track for record stock market flotation; our clients are indicating the Chinese e-commerce giant will have a market capitalisation of $250 billion. When you
consider Facebook floated for $100 billion, we could have a new IPO king. Just Eat hopes to raise between £700 and £900 million from its stock marketing listing, but our clients are indicating a market capitalisation of £1.2 billion.
Equities pull back losses
In the US the Dow Jones is up 37 points at 16,260, as equities pull back some of the losses incurred after last night's Federal Reserve update. Traders are starting to realise that Ms Yellen is letting the market know that quantitative easing and rock bottom interest rates won’t last forever. A rise in US interest rates may happen sooner than initially thought, but we are still a long way from the prospect.
Copper down YTD
Copper is down 13% year-to-date as questions loom over China’s appetite for the red metal.