The FTSE 100 made a sprightly start to proceedings, taking its cue from Wall Street and Asia’s main markets.
The start of the final quarter of the year has led to some early stock-taking. While the UK blue-chip index is around 1,700 points, or 22%, off its peak, US markets have remained resilient in the face of COVID.
How long that can continue with the presidential race now starting to ramp up remains to be seen.
Richard Hunter, the head of markets at Interactive Investor, expects the election to be “an aggressive affair” that will challenge “brittle” recovery Stateside.
Meanwhile “in the background unemployment remains a thorn in the politicians’ side”, he added.
Back here at home, the lockdown of large swathes of the north looks set to hobble any recovery, while fears of further, more draconian action continues to keep a lid on any positivity.
It's the real thing....
Topping the Footsie was bottler and distribution group Coca Cola HBC (LON:CCB), which was up 3.5% after a Goldman Sachs upgrade to ‘buy’.
A 5% rise in the share price of Rank (LON:RNK) had the market wondering whether the bingo and casinos group would be the next sector takeover target now that William Hill (LON:WMH) has agreed to be acquired.
Among the tiddlers, Digitalbox (LON:DBOX) rose 16% after it said it was buying the student publisher The Tab for what looks like a bargain £750,000.
6.43 am: Front foot start predicted
The FTSE 100 looks set to begin the fourth quarter on the front foot, as equity markets broadly find support.
London’s blue-chip benchmark is seen about 17 points higher with CFD firm IG making a price of 5,882 to 5,885 with just over an hour to go until the open. FTSE 100 ex-dividends take 4.93 points off the index this morning.
US politics remain a focus for traders, albeit not the televised shouting contest between Donald Trump and Biden which whilst making much noise has yet to move markets.
Attention has been on the US Treasury Secretary, Steven Mnuchin, and the prospects for COVID-19 economic reliefs which continues to a political football. Republican Mnuchin seeks to engage with Demoncrats over stimulus, amidst a two-month political standoff, and evidently it appears to salve trader sentiments too.
“Earlier this week, the Democrats called for a scheme that was lower than previously proposed, they put forward a package worth $2.2 trillion. The Republicans are believed to be keen on a deal worth roughly $1.5 trillion, so there is still a big gap in when both sides want,” said David Madden, analyst at CMC Markets.
“The commentary from Mr Mnuchin gave dealers hope that some sort of a compromise might be achieved.”
On Wall Street, the Dow Jones added 329 points or 1.2% on Wednesday to close at 27,781.
The S&P 500 gained 0.83% to mark a close at 3,363 and the Nasdaq finished 0.74% higher at 11,167.
The small-cap focused Russell 2000 benchmark, meanwhile, notched up just 0.2% to 1,507.
In Asia, Japan’s Nikkei was trading flat at around 23,184. There is no trading in Hong Kong or Shanghai due to the National Day public holidays.
Around the markets
The pound: US$1.2938, up 0.14%
Gold: US$1,892 per ounce, up 0.28%
Silver: US$23.68 per ounce, up 1.39%
Brent crude: US$40.95 per barrel, down 0.19%
WTI crude: US$40.23 per barrel, up 2.39%
Bitcoin: US$10,824, up 0.7%
6.45 am: Early Markets: Asia / Australia
Japan’s Tokyo Stock Exchange halted trading today due to a technical issue and markets in China, Hong Kong, South Korea and Taiwan are closed today for holidays.
The other markets in Asia Pacific rose with Singapore’s Straits Times index advancing 1.26% while India’s Nifty 50 was up 1.37%.
In Australia, the S&P/ASX 200 is off to a great start to October by rising 76 points or 1.31% to 5892.
This follows a positive lead from Wall Street which rallied yesterday on hopes of US Congress getting closer to another stimulus package to help boost the economy.
Proactive Australia news:
9Spokes International Ltd (ASX:9SP) has completed a A$10 million two-tranche placement which will support the company’s focus on continual enhancements of its platform for around two years.
Australian Strategic Materials Ltd (ASX:ASM) has produced a large 7.5-kilogram sample of a high-purity dysprosium metal through partner Ziron Technology Corporation at its commercial pilot plant in South Korea.
Bellevue Gold Ltd’s (ASX:BGL) extensional and infill exploration drilling at the Bellevue Gold Project in Western Australia has intersected high-grade mineralisation both outside and within the existing known resource boundary.
Castillo Copper Ltd (ASX:CCZ) has entered into a binding agreement with private group Wyloo Metals Pty Ltd to acquire two tenements complementing existing tenure in the Broken Hill area of far western NSW.
Legend Mining Ltd (ASX:LEG) has identified a new, strong electromagnetic (EM) conductor at Hurley prospect which enhances the potential of the Rockford Project on WA's Fraser Range.
CV Check Ltd (ASX:CV1) has implemented a live launch of their most recent technology integration with RealMe, the digital identity service managed by New Zealand’s Department of Internal Affairs.
Eclipse Metals Ltd (ASX:EPM) has confirmed further mineralisation at the Mary Valley Manganese Project near Gympie, southeast Queensland, following stage-1 drilling.
Tietto Minerals Ltd (ASX:TIE) is taking big strides towards developing the Abujar Gold Project in central-western Côte D’Ivoire with a resource upgrade expected and a pre-feasibility study (PFS) close to being finalised.
Auteco Minerals Ltd (ASX:AUT) (OTCMKTS:MNXMF) is set to deliver a new generation of growth after a productive eight months since acquiring the Pickle Crow Gold Project in Ontario, Canada.
YPB Group Ltd (ASX:YPB) has signed a non-exclusive Master Services Agreement (MSA) with India’s Optimum Interface Consulting (OIC) which provides investigative and risk mitigation services including the provision of anticounterfeit technology solutions.
https://news.google.com/__i/rss/rd/articles/CBMiiQFodHRwczovL3d3dy5wcm9hY3RpdmVpbnZlc3RvcnMuY28udWsvY29tcGFuaWVzL25ld3MvOTMwNDMyL2Z0c2UtMTAwLXNlZW4tb24tZnJvbnQtYXMtdXMtc3RpbXVsdXMtc3BlY3VsYXRpb24tc2FsdmUtc2VudGltZW50cy05MzA0MzIuaHRtbNIBPmh0dHBzOi8vd3d3LnByb2FjdGl2ZWludmVzdG9ycy5jby51ay9jb21wYW5pZXMvYW1wL25ld3MvOTMwNDMy?oc=5
2020-10-01 05:43:00Z
52781095940437
Tidak ada komentar:
Posting Komentar