Market News & Analysis

Top Story

Markets digest ECB cuts sterling puts on early morning rally

With no new political developments on Thursday traders were focusing on the ECB, which cut rates in a nod to the increased danger of a recession. Yesterday the ECB cut its deposit rate by 10 basis points, which was in line with market expectations. Currently markets are not sure whether to cheer or cry about this. Sterling has been on a steady surge against the USD since 0600 this morning, up from the 1.235 overnight level to hit 1.240 before any significant sell orders came in. There has also been some serious interest in favour of GBP/EUR.

Asian markets positive on back of interim deal rumour

In Asia stocks were higher today although China, South Korea and Taiwan are closed for the mid-autumn festival. The Nikkei was up 0.8% in late trading and the Hang Seng was up nearly 1%.

Asian markets seemed cautiously positive about the ECB decision and are currently trading at a six-week high. There are also reports that the US government may be close to announcing some form of interim trade deal with China.

FTSE up led by Pearson


The FTSE opened slightly down this morning. Pearson was the leading stock out of the gates, putting on more than 3%. This seems to be largely on the back of a new buy note for the company from Citigroup. Compass Group and RELX were early fallers.

Please note these products may not be available to trade in all regions.

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.