Despite the prospect of a positive US open the European markets couldn’t shake their losses this morning.
With RBS (LON:RBS) investors more concerned with the impending DoJ than the bank’s first profit in a decade, IAG (LON:ICAG) slipping after missing full year earnings and the pound up 0.2% against the euro, the FTSE had little reason not to wallow in the red this Friday. And wallow it did, with the UK index dipping 0.3% to lurk below the 7250 mark it has struggled around all week.
As for the eurozone, despite the euro losing its way following a fall in inflation – down to 1.3% in January from December’s 1.4% – the region’s indices couldn’t pivot into the green. The DAX dropped 30 points, taking it back below 12500, a level it has failed to hold above all week, while the CAC also slipped 0.3%.
There is a chance that investors might be buoyed by the US open. Currently the Dow Jones is on track to jump 160 points after the bell, a move that would effectively see the index recover all of the value lost following the release of Wednesday’s hawkish meeting minutes. It’s worth noting, however, that the Dow did very well on Thursday, and that only went so far in alleviating Europe’s losses.
Disclaimer: Spreadex provides an execution only service and the comments above do not constitute (or should not be construed as constituting) investment advice or recommendations, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any person placing trades based on their interpretations of the above comments does so entirely at their own risk. Spreadex Ltd is a financial and sports spread betting and sports fixed odds betting firm, which specialises in the personal service and credit area. Founded in 1999, Spreadex is recognised as one of the longest established spread betting firms in the industry with a strong reputation for its high level of customer service and account management.
In relation to spread betting, Spreadex Ltd is authorised and regulated by the Financial Conduct Authority. Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone, so please ensure you fully understand the risks involved. In relation to fixed odds, Spreadex Ltd is licensed and regulated by the Gambling Commission under licence number.