FTSE 100 inches close to record high
After a few days of consolidation, indices were on the rise again. In Europe, equity markets were poised to open higher on Thursday, and in the UK, the FTSE 100 was 80 points away from record high.
(Partial Video Script)
Indicies on the rise again
After a few days of consolidation, indices were on the rise again. In Europe, equity markets were poised to open higher on Thursday, and in the UK, the FTSE 100 was 80 points away from record high.
Australian consumer spending is in the midst of a very weak period, which is the major reason why the RBA softened its stance and left interest rates unchanged at 4.35% this month. In February, Australian retail sales rose by 0.3% MoM, after a January increase of 1.1%. Analysts had anticipated a rise of 0.4%.
In Germany, retail sales unexpectedly fell by 1.9% in February MoM. Economists had anticipated a 0.3% increase. YoY, retail sales declined by 2.7%. Germany unemployment rate forecast to remain at 5.9% for the fourth consecutive month.
As expected, final estimate of UK GDP shows a 0.3% contraction in Q4.
UK car production
UK car production rose by 14.6% in February year-on-year. A total of 79,907 units rolled out of factory lines in the country in February. This was driven by domestic demand, which increased by 58%. Production of electrified vehicles made up more than a third of all output in February.
Expected today in the US: final estimates of Q4 GDP growth rate. economists see an annualised increase of 3.2%. Pending home sales are forecast to rise by 1.5% in February MoM
Walgreens Boots Alliance is set to post its second-quarter earnings results before market open. The street anticipates earnings of 82 cents per share. Revenue should rise by 2.9% to $35.9 billion.
Gold
Gold prices are up for a fifth consecutive day. One consequence of high prices, India's gold imports are set to plunge by more than 90% in March from the previous month. Imports are set to hit their lowest level since the covid-19 pandemic. India is the world's second biggest consumer of gold. Gold demand usually stays strong in March as jewellers stock up for the Indian wedding season which is already in full swing. This is also exacerbated by the weakness of the Indian rupee.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize your opportunity
Deal on the world’s stock indices today.
- Trade on rising or falling markets
- Get one-point spreads on the FTSE 100
- Unrivalled 24-hour pricing
See opportunity on an index?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Try a risk-free trade
- See whether your hunch pays off
See opportunity on an index?
Don’t miss your chance – upgrade to a live account to take advantage.
- Get spreads from one point on the FTSE 100
- Trade more 24-hour indices than any other provider
- Analyse and deal seamlessly on smart, fast charts
See opportunity on an index?
Don’t miss your chance. Log in to take your position.
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.