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Alphaex Capital Daily Market Brief

29/06/2018

European Equity Markets the Stoxx 600 closed lower around 0.9% with almost every sector and major bourse in the red. Technology stocks were the worst-performers closing down 2.64%. Daily Mail traded up 6.2% to become the best performer across Europe’s bigger market caused by a rating upgrade by Berenberg. H&M rose 1.9% on Thursday after announcing it would cut prices to help with unsold items. The Swedish retailer has struggled over the last two years.

US Equity Markets stocks were higher on Thursday as technology and other growth sectors rebounded from the prior day’s declines and financial shares ended a 13-day losing streak. The technology sector increased by 1.1%. The sector’s top gainer was consulting firm Accenture PLC, which rose 5.9% after it reported quarterly revenue and profit above estimates. The S&P 500 gained 0.62%, to 2,716.31, and the Nasdaq Composite added 0.79%, to 7,503.68.

Asian Equity Markets indices traded higher on the last trading day of the quarter, as China recovered slightly from a recent slump amid worries over trade tensions between Washington and Beijing. Japanese stocks pared earlier losses, with the Nikkei 225 up 0.1%. Banks and pharmaceutical stocks were the highest gainers on the day.

Forex Markets the EUR/USD traded higher by more than a half-cent on Friday after European Union leaders reached an agreement on migration, an issue that has threatened EU unity and the fate of German Chancellor Angela Merkel. The EUR/USD reached a high of $1.1650. The deal improved risk sentiment, undermining the USD/JPY while lifting growth-linked currencies such as the AUS/USD.

Commodities Markets oil prices fell on Friday thanks to increasing trade friction between the United States and other major economies, although crude markets remain tight due to supply disruptions and high demand. U.S. West Texas Intermediate (WTI) crude futures were at $73.19 a barrel, down 26 cents, from their last settlement. WTI on Thursday hit its highest since November 2014 at $74.03 per barrel. Brent crude futures were at $77.74 per barrel, down 11 cents.

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Bond Markets Japanese government bond prices traded lower on Friday as the market was weighed by an overnight retreat in U.S. Treasuries, although domestic stocks limited the losses. The five-year and 20-year JGB yields rose by half a basis point to minus 0.110 percent and 0.500 percent , respectively. The benchmark 10-year JGB yield has moved between 0.020 percent and 0.095 percent this year and it has recently drifted towards the lower end of this band.

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Trading carried a high level of risk to your capital. Losses can exceed deposits. Please read the full risk warning here

Trading spot foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. You may lose all your capital. Loses can exceed deposits. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in spot foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. If you are in any doubt about investment or the mechanics of such products, you should seek independent financial advice.

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