Market News & Analysis
London stocks open on a lower note
Fiona Cincotta April 15, 2019 8:34 PM
The first quarter reporting season in the US started off stronger than expected with better than anticipated results from JP Morgan and Wells Fargo and will get under way in earnest this week with reports from a whole set of industries, starting with Citigroup later Monday.
Parliament recess helps pound
The pound is having a break from being buffeted by Brexit news as Parliament has stopped for recess until 23 April and any talk of leadership challenges, potential second referendums and general elections waits until the country finishes its Easter egg hunts. Sterling is trading nearly 0.2% higher against the dollar and is up 0.11% vs the euro helped by an improvement in UK indicators like house prices and UK store footfall.
Oil notches lower ahead of the OPEC meeting
As OPEC gets ready for its Vienna meeting later this week Brent crude prices are notching lower but are still trading close to six months highs. Six months ago OPEC members and Russia agreed to a series of production cuts which have now filtered through the system and together with the US sanctions on Venezuela and Iran have reduced the amount of available supplies. The current wild card is the conflict in Libya which has the potential to disrupt supply flows further and may make more cuts unnecessary.
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.