Asian-inspired wobbles have knocked the FTSE back, sending the market 22 points lower by mid-morning.
The increased volatility that markets enjoyed last week looks set to continue, as European traders settle in with news of mass protests in Hong Kong destabilising Asian confidence and knocking stocks. The ensuing chaos has seen Standard Chartered drop by almost 2% following the closure of its operations in the previous British colony. Balfour Beatty shares have collapsed this morning after it announced its third profits warning in five months and brought in auditors KPMG. Today’s fresh £75 million write-down has seen shareholders disenchantment turn ugly, with shares down over 25% in early trading. Having managed to avoid adverse affects to share price caused by any investor concern over Scotland's debated independence, Aberdeen Asset Management has instead added almost £8 billion in assets managed.
Investors’ attention can’t help but be pulled to events later in the week, as the full spectrum of manufacturing PMI figures from around the world kick off tomorrow. With both the ECB and non-farm payroll figures coming out this week, a sense of calm should prevail today before stormier times materialise as the week progresses. Ahead of the open we expect the Dow Jones to start 73 points lower at 17,040.
The increased volatility that markets enjoyed last week looks set to continue, as European traders settle in with news of mass protests in Hong Kong destabilising Asian confidence and knocking stocks. The ensuing chaos has seen Standard Chartered drop by almost 2% following the closure of its operations in the previous British colony. Balfour Beatty shares have collapsed this morning after it announced its third profits warning in five months and brought in auditors KPMG. Today’s fresh £75 million write-down has seen shareholders disenchantment turn ugly, with shares down over 25% in early trading. Having managed to avoid adverse affects to share price caused by any investor concern over Scotland's debated independence, Aberdeen Asset Management has instead added almost £8 billion in assets managed.
Investors’ attention can’t help but be pulled to events later in the week, as the full spectrum of manufacturing PMI figures from around the world kick off tomorrow. With both the ECB and non-farm payroll figures coming out this week, a sense of calm should prevail today before stormier times materialise as the week progresses. Ahead of the open we expect the Dow Jones to start 73 points lower at 17,040.
Recommended Content
Editors’ Picks
EUR/USD hovers around 1.0700 ahead of German IFO survey
EUR/USD is consolidating recovery gains at around 1.0700 in the European morning on Wednesday. The pair stays afloat amid strong Eurozone business activity data against cooling US manufacturing and services sectors. Germany's IFO survey is next in focus.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold: Defending $2,318 support is critical for XAU/USD
Gold price is nursing losses while holding above $2,300 early Wednesday, stalling its two-day decline, as traders look forward to the mid-tier US economic data for fresh cues on the US Federal Reserve interest rates outlook.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin (WLD) price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.