Market News & Analysis

Trade talk sweetener boosts FTSE

The FTSE has found some spring in its step as the US and China moved a step closer to breaking the trade talk impasse. According to reports the US is considering lifting $112 billion worth of tariffs on Chinese goods as a sweetener to seal the first phase of the trade deal .

Primark owner AB Foods is leading the risers with a 4.22% increase in share prices despite reporting a net loss for the quarter. However, the company’s full year performance still remains positive with Primark continuing to bring in profit and widening its expansion plans in the south of Europe.  

Bristol-based Imperial Brands posted operating profits which fell short even of its revised numbers in September when the company halved its previous expectations for full year growth. Struggling with the aftermath of a ban on flavoured products in the US vape market the company is not only looking for new direction but also for a new CEO as current CEO Alison Cooper is in the process of leaving the post.

Pound flat in pre-election apathy

Currency traders are finding little reason to buy into the pound amid full-blown pre-election apathy, anticipating that the next six weeks of campaigning will result in little more than a hung Parliament. Thus the pound’s recent recovery has been cut short and the currency is trading at $1.2886. Sterling has also yielded some ground to the euro

Trade talk optimism is providing the dollar with a fillip, boosting the currency against the safe-haven yen. The next point of focus for the greenback will be a busy afternoon of economic data in the US including the September trade balance, Redbook and the composite October PMI number.

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.