The so-called “stock market bloodbath” has continued on Friday with major indices falling down to the lows of the last October. What's going on?
FTSE 100 moderately ascends
On Thursday, British equities demonstrated thin revenues, stumbling on losses for the month as well as the quarter because market participants get ready to enjoy the upcoming Easter holiday break.
The FTSE 100 index UKX rallied 0.1% being worth 7,051.57. The basic materials sector appeared to be the top notch performer, while losers were mainly represented by the utility as well as healthcare groups. The index tacked on 0.6% on Wednesday.
The blue-chip benchmark was braced for diving 2.6% for March.
The currency pair GBP/USD reached $1.4058, sinking from $1.4076.
The revenue on the 10-year gilt TMBMKGB-10Y acquired no more than 1 basis point demonstrating an outcome of 1.36%.
By the way, trading on the FTSE 100 is going to be closed due to Good Friday
Mining equities were backing the FTSE 100 because prices for some commodities surged, with copper futures HGK8 soaring 0.7%.
However, miner equities have taken a hit along with broader stock markets for recent weeks, suppressed by worries of global trade conflict as well as a probably stepped-up tempo of interest rate hikes by the Fed.
On Thursday, the final outcome on British GTP for the fourth quarter is expected to show up. On a quarter-over-quarter basis it’s generally believed to account for 0.4%.
Compass Group PLC CPG equities dived 2.7% right after French food services counterpart Sodexo SW had its fiscal 2018 financial outlook downgraded after a dismal quarter.
Leading performers on the FTSE 100, equities of business software maker Micro Focus International PLC MCRO headed north 1.6%. As for miner Anglo American PLCAAL, its stocks ascended up to 1.7%.
In addition to this, Ted Baker PLC TED, apparel and accessories retailer headed south about 2% on the FTSE 250 because Jefferies had the company’s rating downgraded from buy to hold.
Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels.
Will coronavirus continue keeping the markets in fear? What releases should we wait for? Find out in the news!
RBA Rate Statement is released on Tuesday at 07:30 MT time.
WTI oil prices jumped up after Donald Trump’s 2 tweets
Today the US nonfarm payroll data will be reported that could cause fluctuations of the market.