This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Global equities remain mixed around breakeven. Whilst disappointing Chinese data has penalised UK Index Miners, Vodafone upgrading guidance is helping the index outperform peers. Further help is at hand from a politically pressured GBP being kept down by soft inflation data. Dollar weakness amid persistent concerns about tax reform delay has also lead to unwelcome EUR strength to see the German DAX underperform, all the while the US Dow Jones trades flat.
The UK Index outperforms thanks to VOD (upgraded guidance), TSCO (Booker merger approval), RDSb and SHP/NMC/BA (bounces). Offering resistance are GLEN/RIO/BLT (soft China data) and BATS/IMB (defensives). Germany’s DAX underperforms as results inspired gains for Infineon are offset by similarly inspired losses for both Henkel and RWE.
The UK Index 100 is holding its bounce from 7400, but still in a steep downtrend. The DAX 30 also holds its bounce from 13000 in a steep downtrend. Dow Jones Futures are sideways 23420-23460, awaiting a break. Gold has bounced from $1270.
Click below to expand sections for more detailed analysis
The UK Index 100 is holding its bounce from 7400, but still in a steep downtrend.
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 also holds its bounce from 13,000 in a steep downtrend.
Watch levels: Bullish 13,090, Bearish 13,060
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 sideways 23420-23460, awaiting a break.
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 bounced from $1270.
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