The FTSE 100 is set for a nearly 5% slump this month following a banking sector selloff. But for the quarter, the index is now set to eke out a marginal rise helped by gains in the first two months of the year.
The bank cut its price target for the pan-European Stoxx 600 index down to 445 points, which represents no growth from current levels. It also cut its end-of-year FTSE 100 price target to 7,600 points. The bank's strategists said their list of 12 buy-rated stocks would prove resilient during broad market sell-offs.
The DAX 40 and the FTSE 100 are both showing gains of 1.4%. The safe-haven Japanese Yen has slipped against the US dollar by 0.75%. Gold is currently trading around $1,966/oz.
The DAX 40 and FTSE 100 sank -4.28% and -5.33%, respectively. On wall street, the Dow Jones fell -0.15%, but the tech-heavy Nasdaq soared 4.41%. Meanwhile, the price of WTI crude oil collapsed 13.55% last week, the most since February 2020.
The FTSE 100 and DAX 40 gained +2.67% and 4.82% respectively. In the Asia-Pacific region, the Nikkei 225 and Hang Seng Index climbed 1.16% and 3.56%. The broader measure of the US dollar – the DXY Dollar Index dropped its lowest level since early June this past week.
Dow Jones, FTSE 100 and DAX 40 rallied 1.23%, 1.19% and 0.87% respectively. In the Asia-Pacific region, the Hang Seng Index and ASX 200 rose 6.33% and 1.28%. The 10-year rate dropped the most since February 2022. Improving confidence in China’s economy helped push the Yuan higher.
The region-wide STOXX 600 (.STOXX) was flat as of 9:31 GMT. The FTSE 100 <FTSE> advanced 0.7% as commodity-linked and China-exposed stocks jumped in early trading. The UK market, which was closed for holidays since its half-day trading on Friday, is playing catch-up.
The DAX in Frankfurt lost 0.7% to 13,893.07 and the CAC 40 in Paris fell 1.1% to 6,452.63. The FTSE 100 in London gained 0.3% to 7,356.32. Wall Street futures for the benchmark S&P 500 index and the Dow Jones Industrial Average were off less than 0.1 per cent. The Shanghai Composite Index lost 1.5% to 3,118.95.
FTSE 100 falls 0.3%, FTSe 250 off 0.4% as investors girded for another interest rate hike from U.S. Federal Reserve. UK inflation eases from 41-year high to 10.7%, but inflation in services sector held at 30 year high of 6.3%.
BSE Sensex is up 5.7% on a YTD basis versus an over 17% fall seen in the S&P 500 index, 5.5% in Nikkei and just 0.22% rise in FTSE 100 index. Nifty50 is currently trading at over 22 times its 1-year forward earnings, which is way above historical average of about 14-15 times.
Fitch Ratings revises its forecasts for world economic growth downward to reflect the Fed's and other central banks' interest rate hikes. The index futures for the S&P 500 and the Dow industrials were 0.1% lower on Tuesday. FTSE 100 lost 0.3% to 6,679.98; Germany's DAX was down 0.2% to 14,421.84.
Germany's DAX gained 0.2 per cent to 13,269.55 and Britain's FTSE 100 was flat at 7,049.25. The future for the S and P 500 shed 0.6 per cent while that for the Dow industrials was 0.5 per cent lower. Wall Street ended last week higher after Apple and other big companies reported strong profits.
The pound briefly surged more than one percent against the dollar to $1.1336 after Truss ended six tumultuous weeks in power. Analysts said gains were pared by the ongoing uncertainty. The FTSE 100 index was up 0.3 percent while the country's borrowing costs eased on the news.
UK's main equity indexes hit session highs before paring gains on Thursday after Liz Truss said she was resigning as prime minister. The blue-chip FTSE 100 was down 0.1% as a jump in the pound hurt dollar earners such as AstraZeneca (AZN.L) and Diageo (DGE.L).
Liz Truss resigns as prime minister after 45 days in office. Initial bounce in pound has begun to fade as implications of uncertainty sink in. Richard Burge, chief executive of the London Chamber of Commerce and Industry: “It is shocking that the Government has allowed chaos to have free reign in recent weeks, damaging our economy.
FTSE 100 is expected to open 18 points lower at 6,907. DAX is set to open 68 points lower, CAC40 is expected 26 points lower. US yields have continued to advance on the basis that we could well see 75bps in November and a another 75bps rise in December. Germany PPI numbers set to show inflationary pressure in Europe's largest economy is far from abating.
The FTSE 100 in London lost 0.3% to 7,262.67 and the DAX in Frankfurt shed 1.7 per cent to 12,731.46. The market benchmark is down 4.1 per cent for the week following the biggest pullback in two years on Tuesday.
The pan-European Stoxx 600 fell 1.1%, with all sectors in the red. The FTSE 100 was down 0.4%, Germany's DAX down 1.19% and France's CAC 40 fell 0.95%.
Shares slumped almost 17% in after-hours trading as the packages delivery company withdrew full-year results guidance issued at the end of June. The move comes as it reported a 21% fall in earnings for the first quarter of its financial year to 31 August.
Germany's DAX rose 1.4%, french's CAC 40 and FTSE 100 both jumped 1%. Asian shares also rallied in slow trading with china and south Korea out for a holiday. The balance of information we have is being interpreted as bullish.
The FTSE 100 in London rose 0.3% to 7,307.22 and the DAX in france rose 0.4% to 6,103.77. The s&P and the Dow both lost 1.1% after government data showed U.S. Hiring slowed in august.
European markets set for a slightly lower open on Tuesday, tracking global sentiment. FTSE 100 is seen around 20 points lower, Germany's DAX is set to slip around 19 points to 13,212. Euro sank back below parity with the dollar to notch a two-decade low and was trading at around $0.9915.
FTSE 100 in London lost 0.7% to 7,494.91 and Frankfurt's DAX fell 1.1% to 13,544.52. Shanghai, the only major market to advance, gained after China's central bank nudged down a rate that affects mortgage costs. Oil prices fell more than $1.50 per barrel.
FTSE 100 in London slipped 0.2% to 7,498.98 while Frankfurt's DAX added 0.3% to 13,672.70. London, Shanghai, Tokyo, and Hong Kong declined on Thursday. Wall Street futures for the benchmark S and P 500 index and the Dow Jones Industrial Average were off 0.3%.
UK equities have been laggards since the 2016 referendum. The FTSE 100 and the FTO 250 have both fallen about 8% in dollar terms since Boris Johnson took office. The Euro Stoxx 50 has substantially outperformed the UK since the referendum.
