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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

The FTSE 100 rally continues

All eyes are on the Bank of England's monetary policy meeting and its decision at noon. The BOE is expected to maintain the interest rate at 5.25% for the sixth consecutive time.

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The Bank of England

All eyes are on the Bank of England's monetary policy meeting and its decision at noon. The Bank of England' (BOE) is expected to maintain the interest rate at 5.25% for the sixth consecutive time. March saw a notable dovish shift from the BOE, hinting at a potential future cut. It was the first time in the current cycle that no members of the Monetary Policy Committee voted for a hike. This decision was influenced by the downward trajectory of UK inflation. But while inflation has dropped sharply, the labour market remains tight, and wage growth is around 6%.

China's trade surplus

China's trade surplus widened in April by nearly $14 billion to $72.35 billion as exports returned to growth after contracting sharply in March. Shipments from China grew 1.5% year-on-year last month. They fell 7.5% in March, which marked the first contraction since November. Imports for April increased 8.4%, beating an expected 5.4% rise.

ITV

ITV total revenue fell 7% to £887 million in Q1. John Wood Group adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 4%.

Airbnb

Airbnb reported first-quarter results on Wednesday that beat analysts' estimates but offered weaker-than-expected guidance. Revenue increased by 18%. Net income more than doubled to 41 cents per share. The company said revenue in its second quarter will come in between $2.68 billion and $2.74 billion. Analysts were expecting $2.74 billion for the period. The company also said it expects that year-over-year revenue growth for Q3 will accelerate compared to the second quarter, in part because of its summer travel backlog.

Oil

oil prices rose on Wednesday afternoon as US crude oil stockpiles fell as refiners increased production, according to the Environmental Impact assessment (EIA). Crude inventories fell by 1.4 million barrels, helped by an increase in refinery utilisation rates, which rose by 1 percentage point to 88.5% of total capacity. This also explains why both gasoline and distillate stocks fell by 900,000 and 600,000 barrels, respectively.

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.

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