UK stock market

Market moving news daily roundup, 16th August 2019, FTSE trading fails to start

Market moving news daily roundup – events & news likely to move markets 16th August 2019

Company performance, economic and political events but especially market sentiment will always influence market movement, good or bad.

Summary

Market moving news roundup, 16th August 2019

FTSE fails to open

FTSE fails to open at 08:00 – delay due to ‘trading services issue’. What does that actually mean? U.S. – China trade war has been rumbling on for about a year now, so where do we go from here, and how will it continue to affect global economies?

Hong Kong GDP

Hong Kong’s GDP figure comes in below expectations. It has been suggested that the protests in Hong Kong contributed to the economic slowdown. The government on Thursday announced a multi billion dollar support package.

Asian markets – Hong Kong stocks up, South Korea down. Japan’s Nikkei closed up slightly at around: 20419

U.S. – Is this true? Trump allegedly is ‘interested in buying Greenland’. It’s not April 1st is it?

UK – Turkey’s military pension fund, OYAK, does deal to save British Steel.

U.S. – Dow futures up around 230 pts (11:30BST 16th August 2019)

GE – concerning report

U.S. – remember Bernie Madoff and the Ponzi pyramid selling scheme? Well, the guy who uncovered it, Harry Markopolos is allegedly flagging concerns over a major U.S. blue chip company, General Electric. He is suggesting that there may have been a multi billion dollar accounting scandal. GE responded by calling it, ‘meritless, misguided and self-serving speculation’.

See Harry Markopolos being questioned here

Pound picks up

UK – Sterling picks up against the dollar and euro.

UK – London Stock Exchange – LSE says it, ‘experienced a technical software issue‘. Still don’t know what that means exactly. But trading in the FTSE 100 and FTSE 250 was down for 100 minutes this morning.

Greenland – responds to Trump, ‘we’re not for sale, but we’re open for business’.

U.S. – homebuilding fell for a third month in a row, but building permits increased.

U.S. – consumer sentiment fell in August and came in below estimates, according to preliminary data.

U.S. – falling (U.S. & UK) bond yields, which rattled global markets, climbed back slightly from their lows, easing some recession fears. U.S. stocks rally.

Stock market indices update, August 16th 2019

Closing positions of: FTSE 100, DAX, DOW, S&P 500, NASDAQ, NIKKEI & GOLD

I trade these indices.

Global stock markets remain nervous, as global slowdown and recession worries persist despite recovering some of the weeks loses. Dow gains around 300pts on the day. S&P 500 & NASDAQ also up. Bond yields recover from historic lows, and U.S. markets rally.

FTSE 100 – closed up at: 7117

DAX – closed down at: 11563

DOW – closed up at: 25886

S&P 500 – closed up at: 2888

NASDAQ – closed up at: 7896

NIKKEI – closed up at: 20419

GOLD – closed at around: $1,523

Key: Green highlight markets move up. Red highlight markets move down.

All values rounded.

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