Market News & Analysis


Top Story

Hong Kong bill impact dampened by US holidays

Just as phase one of the US-China trade deal came within reach Sino-US relations are about to deteriorate after President Donald Trump signed a bill supporting protesters in Hong Kong, thus angering China. The timing of it - late Wednesday just as the US was about to break off for Thanksgiving - could have been chosen with an eye on the markets because the impact on Wall Street won't be visible until US traders fully come back on Monday morning. For the time being Asian markets are sliding, Europe has opened lower and US stock futures are also printing weaker numbers.

FTSE lower despite property firms' rally

In London UK home builders rallied across the board, as did British Land and United Utilities. A stronger sterling played a key role here helped by polls showing a firm Conservative lead going into December. But the higher home builder share prices were not enough to offset the declines by Vodafone and specialist metals firm Johnson Matthey.

Pound firms on poll data

Polls have been indicating a Conservative lead over Labour since this UK election race started, so not much change there, but what is new is the latest estimated size of the lead. According to YouGov Boris Johnson could end up with a 68-seat majority in Parliament with the Conservatives expected to win 359 seats while Labour would gain only 211 and Liberals 13. Sterling rallied 0.2% against the dollar before losing ground slightly in early trading this morning.

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.