18 Aug

DigitalLook (Link)

• Analysts at Accendo Markets noted that the Footsie had fallen below its 200-day moving average but was closing in on a return to four-month support at 7,300. “European equities are sharply negative as another major risk-off move grips global markets. Concerns that the White House has burnt bridges with the business sector, hurting the US dollar, has adversely affected UK and German stocks, the majority of which are reliant on foreign earnings,” said Accendo’s Henry Croft.

17 Aug

Business Insider (Link)

• “That was the key link between corporate America and the Trump administration,” Henry Croft, research analyst at Accendo Markets, said. “The banks were pinning a lot of hopes on the fact that Trump would be able to remove some of the rules and regulations that came in after the 2008 crisis and limited their risk-taking ability,” Croft added.

16 Aug

LSE (Link)

• On oil, Henry Croft at Accendo Markets noted that crude prices recovered from the prior day’s three-week lows as the American Petroleum Institute reported a 9.2m barrel drawdown, almost three times larger than expected. “This bullish inventory print, complemented by a pause in the US dollar rally, has helped both Brent and US benchmarks to retain $51 and $47.40 handles respectively. Watch this afternoon’s EIA inventory data for a confirmation or dispelling of API’s report.”

15 Aug

City AM (Link)

• Henry Croft, research analyst at Accendo Markets, said gold could also be tested by a strengthening US dollar. “The precious metal has found some support at $1,272, allowing some reprieve from the sell-off. However should the greenback continue its rally and safe-haven asset demand further diminish, the support could be tested this morning.”

14 Aug

DigitalLook (Link)

• Accendo Markets’ analyst Henry Croft said investors welcomed the easing of tensions following last week’s losses. “Global equities are making a positive start to the new week as the abatement of US-North Korean geopolitical tensions has lured investors back to risk assets after last week’s safe-haven flight,” Croft said. “With both sides taking a step back from further escalation, many stocks that were sharply hit by last week’s sell-off have welcomed relief rallies as a result of bargain-hunting investors.”