Wk 10.8 Mar 2019 06:31
Asia led London mrkts lower at the off, the 100 down 30 and stayed in the red all day.
The never ending speculation on China/US trade talks, Brexit and that the Govt look set to lose 'another' meaningful vote by 100 dented confidence and kept invstrs on the sidelines. Perhaps on Brexit we should focus on 'fisheries' its the only way we will get some cod peace!! Heh heh heh.
Stocks in focus were Banks, insurers & miners all (going down) following the ECB trimming Eurozone GDP growth to 1.1% from c.1.7% and pledging further long term loans to Euro institutions. On the plus side analysts say rates look stable till 2020. The DAX and CAC fell 69 & 21 strictly on Euro concerns.
A weak start on the Street (off 300+) nailed the ftse down 38 (7158) at close the 250 slumping 175 (19184) and the All down 24 (3926) to end another dispiriting day.
A bounce off 25350 by Big Board stocks Nike, Cisco,
Verizon & Exxon, pulled the Dow out of a blue funk dive not helped by Walgreen / Boots Alliance (-$11), 4/5 down sessions and taking 75 off the Dow indices.
By midday the 30 had recoverd its poise to trade off 130 by mid afternoon as bottom fishers came looking for bargains. However the rally fizzled out the Dow closing down 200 the 4th straight at (25473) and the S&P testing its 200DMA at 2750.
Asian stocks were sharply down (usual concerns) and that Chinas GAC reported exports had fallen 21% in Feb on weak global demand. The SHCOMP fell 90 or c.3% while TK & HK were off 400+ points.
The nos: Oil $65.91. Gold $ 1291. £$ 1.308. FF -38 & DF -81.
Morning all.