Market News & Analysis


Top Story

FTSE down marginally on last trading day of the year

The last trading day of the year has seen the FTSE marginally down with very little volume, reflecting a second week of hibernation on many City trading desks. NMC Healthcare remains a stock to watch, with shares down 1.74% this morning as the market tries to make up its mind just where NMC really stands following a damning report from short seller and research firm Muddy Waters earlier this month.

JD Sports was notably up on the day, one of the few retailers that has been able to consistently add value throughout the year, doubling its share price in 2019.

The S&P 500 looks like it is still in ‘Santa rally’ territory however, after a good December, despite coming off 0.6% Monday.

Ghosn flees Japan, Nissan shares down

Former Nissan boss Carlos Ghosn, who was on trial in Japan for allegedly misstating his earnings from his role at Nissan-Renault, has fled to Lebanon in a private jet, breaking his bail terms, in a further twist in the drama that has overshadowed the alliance between the companies. Ghosn had been due to stand trial in Tokyo next month.

Nissan shares are currently trading at a five year low in Tokyo. Ghosn’s flight all but damns the alliance between Renault and Nissan, which was already struggling before his arrest in 2018. It also comes at a time when the auto sector is navigating choppy waters, with the EU seeking to find a solution to US tariffs next year as European and global car makers fight to remain profitable.

Hong Kong sees major December rally

Hong Kong stocks look set to cap off an excellent December rally as riots and protests in the territory continued yesterday. The Hang Seng has put on more than 7% although economists worry about the Hong Kong economy, which is now in recession. Much of the optimism is being driven by the news of the phase one US/China trade agreement rather than the politics on the ground in HK.

 

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.