This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
European Equities have made a mixed start to the week. The German DAX is flat despite a EUR bounce. The UK UK Index loses ground as results from HSBC weigh along with a GBP bounce ahead of Thursday’s widely expected BoE rate hike. Dow Jones futures underperform amid concerns from first charges being filed by the US special counsel investigation into Trump’s campaign/Russia interference and of course who the President will name as new Fed chair.
The UK 100 is down due to HSBC (results), BATS/IMB/DGE (strong GBP), RB/ULVR (profit taking) and NG/VOD (UK interest rate hike), helped only by SHP (rebound ), IAG (post-results rebound), EZJ (Air Berlin assets acquisition ), BP/RDSb (oil rally on Saudi pledge).
Germany’s DAX is flat as gains for VW (results, broker upgrade), Lufthansa (continued uptrend), ProSiebenSat1.Media, HeidelbergCement and Vonovia (dovish ECB) are offset by losses for Deutsche Boerse (continued reversal, changes at top), Linde (broker downgrade) and SAP.
The UK Index 100 holds above 7480, but still in a downtrend from the Friday before last. The DAX 30 continues to flirt with Friday’s 13250 fresh record highs. The Dow Jones Futures are still in an accelerated September uptrend with support at 23365. Gold has turned back from $1275, still in a downtrend channel.
Click below to expand sections for more detailed analysis
The UK Index 100 holds above 7480, but still in a downtrend from the Friday before last.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
The DAX 30 continues to flirt with Friday’s 13250 fresh record highs.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures are still in an accelerated September uptrend with support at 23365.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold has turned back from $1274, still in a downtrend channel.
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research