Indices news

The correlation between Bitcoin and the S&P 500 Index has been a topic of discussions and speculation for some time now. However, the last two months have seen such discussions being revisited and reconsidered after the world’s largest cryptocurrency saw a sharp pullback in mid-March. The global economy has taken a hit in the past few months because of the coronavirus pandemic. As the virus started to spread across the world and cause c...

The European stocks welcomed May on a dovish note on Monday attributed to the rising complications between the U.S and China. The United States’ accusation of misleading information about the Coronavirus on China weighed heavily on cyclical sectors. In a recent statement, President Trump also threatened to impose new tariffs on Chinese goods. The UK’s blue-chip index, FTSE 100, was reported 0.7% down in the early session on Monday that further ex...

The UK’s Institute for Fiscal Studies (IFS) has warned that the country may witness an increase in the budget deficit levels that are “not seen in peacetime”. In the meantime, FTSE 100 is struggling to extend its rebound to levels above 5,800. Fundamental analysis: A “colossal increase” in the country’s budget deficit Paul Johnson, the director of the Institute for Fiscal Studies has said, has warned that the c...

FTSE 100 closed today’s session 2.96% lower as the European equities all registered sharp losses. In the meantime, the Bank of England’s (BoE) Andy Haldane has warned of a “very ugly” first half of the year. Fundamental analysis: Death toll jumps, Haldane issues a warning The UK reported 828 new deaths from coronavirus today, a significant jump compared to yesterday’s figures of 449. In total 17,337 patients have died in hospital after testing po...

UK Chancellor Rishi Sunak is working on a fresh business bailout scheme to support larger UK companies. In the meantime, the FTSE 100 closed the week only 0.95% lower, despite trading as much as 4.5% down over the course of the week.  Fundamental analysis: Sunak to aid larger companies After unveiling a large scheme to support small and medium-sized enterprises (SMEs), and the self-employed, Rishi Sunak is working on a new bailout program to...

DAX 30, a German blue-chip stock market index, is struggling to keep its head above the 10,000 mark as Europe’s largest economy likely contracted as much as 9.8% in the second quarter, according to national Ifo institute. Fundamental analysis: Record decline Analysts from Ifo institute, one of Germany’s largest economic think-tanks, believe that the national economy probably declined 9.8% in the second quarter amid the COVID-19 outbre...

Coronavirus has been the talk of the global financial markets with price actions keeping largely attributed to the pandemic in the past few weeks. Following a significant rebound in the UK shares towards the end of last week, Monday kicked off with another downward rally as investors expressed concerns of a broader economic impact in an event of an extended shutdown due to the ongoing health emergency.   The blue-chip FTSE 100 index posted a...

Similarly to other major stock market indexes, the Swiss Market Index (SMI) has corrected sharply from the record highs, falling more than 30% in just four weeks. A low of 7,650, set on March 16, is the lowest the SMI has traded since October 2016. During this correction, the price action has created a bearish pennant pattern, which, if activated, points towards more losses for the index. Fundamental analysis: Worst case scenario yet to materiali...

Infecting around 14,500 people in the UK and causing over 740 death, the Coronavirus shocked the UK’s government on Friday as Prime Minister Boris Johnson tested positive for the flu-like virus. The news stirred further fear in the UK’s benchmark share index that was recorded trading significantly lower later in the day. UK’s blue-chip FTSE 100 index recovered for three days in a row on the optimism of aggressive measures taken...

The United States Senate voted in favor of an unprecedented £1.69 trillion rescue package on Wednesday. The aid is expected to offer support to the massively hit industries amidst the Coronavirus pandemic and help families and unemployed workers to thrive through the challenging times. As per the bill, the U.S will also invest billions of dollars into purchasing medical equipment and meet the demand for effective response against the flu-li...

The White House is getting closer to finalizing its stimulus package to support economic growth amidst the Coronavirus pandemic. The optimism of an imminent U.S aid package sent London shares up on Wednesday. The benchmark FTSE 100 index closed 4.5% up on Wednesday following Tuesday’s remarkable gain that was branded its largest in percentage since the financial crisis of 2008. FTSE 100 Climbs 16% From The Last Week’s Low Hitting the...

Stock markets worldwide are all trading in green this morning after reports emerged that the White House and Senate have finally agreed to a stimulus package worth around $2 trillion. Fundamental analysis: Historic agreement reached in Senate Just before 2AM, Senate Majority Leader Mitch McConnell said that the agreement has been reached. “At last we have a deal,” said McConnell. In a tweet later on, he added that the legislation will be passed o...

DAX, Germany’s blue chip stock market index, has gained more than 9% today in the best day since the beginning of the coronavirus crisis. A limitless purchase of government-backed bonds initiated yesterday by the US Federal Reserve, as well as Germany’s stimulus package worth more than 750 billion euros has sparked the rally in equities across the globe today. Fundamental analysis: Germany announces massive stimulus package Yesterday, the Federal...

Equities are trading higher across the globe after the Federal Reserve said it will purchase unlimited amounts of the government-backed bonds, while Germany announced an increase to its €600 billion stimulus package. Fundamental analysis: Central banks unleashing a new level of stimulus The Federal Reserve announced this morning an unprecedented stimulus package to support the falling economy. The Fed committed to unlimited asset purchase to prov...

Former governor of the Bank of England (BoE), Mervyn King, said on Monday that the UK’s economy is currently facing a much more serious challenge amidst the Coronavirus pandemic than the market crash of 2008. A leading global investment banking firm, Goldman Sachs, predicted a 1% decline in the global gross domestic product (GDP) on Monday ascribed largely to the ongoing health emergency. A range of businesses in the UK have already estimat...

Spanish officials warned today that the majority of the country’s capital population will get infected with coronavirus after the death toll surpassed 1,000. Isabel Diaz Ayuso, the president of the region of Madrid, expects that eventually 8 out of 10 capital residents will get infected. Expectations are, according to Ayuso, that the majority of infected persons will have very mild symptoms but the virus can be lethal for the elderly or those wit...

Wall Street contracted again on early Thursday morning with the major U.S stock indices losing traction as Coronavirus continues to wreak havoc on the global economy. Dow Jones Industrial Average futures were seen 352 points down on Thursday morning and hinted that the index is likely to open around 250 points down and signaled another day in the red territory. Thursday morning data from the S&P 500 and Nasdaq futures also remained under pres...