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ArvinIG

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  1. Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 19th September 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day. If you have any queries or questions on this please let us know in the comments section below. For further information regarding dividend adjustments, and how they affect your positions, please take a look at the video. NB: All dividend adjustments are forecasts and therefore speculative.A dividend adjustment is a cash neutral adjustment on your account. Special Dividends Index Bloomberg Code Effective Date Summary Dividend Amount TOP40 CFR SJ 21/09/2022 Special Div 0.1 SMI CFR SW 21/09/2022 Special Div 1 How do dividend adjustments work? 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.
  2. The recent lift in Australia’s unemployment rate may allow the RBA to consider slowing down the rising interest rate as early as October. Source: Bloomberg Indices Unemployment ASX Australian Securities Exchange Labour economics Australian Bureau of Statistics The Australian Bureau of Statistics (ABS) reported Australia’s unemployment rate for August on Thursday, September 15th. The seasonally adjusted unemployment rate rose surprisingly to 3.5 percent in August 2022, higher than the expected 3.4%. According to the reading, Australia's strong economy is luring more workers into an extraordinarily tight labour market with full-time employment jumping by 58,800 in August, offsetting a drop of 25,300 in part-time jobs. Seasonally adjusted working hours also increased by 0.8 percent, fully reversing July's decline in hours worked. Source: Trading Economics What would be the impact? The surprising job data comes as the RBA considers the possibility of another 50 bps hike for October, following the US's hotter-than-expected CPI. Up until September 14th, the market has indicated a 67% expectation of an interest rate increase to 2.85% (another 50bps) at the next RBA Board meeting. Source: ASX The RBA has delivered four consecutive 50 bps increases since May, but governor Philip Lowe has recently signalled that the board could ease higher interest rates from October if the economic data supports the pivot. Given the unexpected lift in the unemployment rate, suggests the labour market may have reached its total capacity thus allowing this to be possible. ASX 200 technical analysis The encouraging unemployment print helped to restore confidence in the ASX market after the previous day’s tumble. As shown in the daily chart, the level of 6791 has played as massive support since early September. Therefore, sellers should keep a close eye on this level once breached as that may trigger a new round of selling. On the other hand, buyers should be ready for any bounce from this level to be challenged by the imminent resistance at 6916, where the 20-day MA sits. ASX 200 daily chart Source: IG Hebe Chen | Market Analyst, Melbourne 16 September 2022
  3. Hi @devc, IG accepts Visa and Mastercards debit and credit cards for deposits and withdrawal. On our system it shows that the transaction was declined by your bank. Please reach out to helpdesk.uk@ig.com for our payment team to provide you with further information. Thank you - Arvin
  4. Lake Resources shares have been in sensational form over the past three months as share prices climbed 20% last week, 80% higher since mid-July. Source: Bloomberg Indices Lithium ASX Technical analysis Stock market Lake Resources is a clean lithium developer utilizing clean, direct extraction technology to develop sustainable, high-purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. What happened to Lake Resources last week? On September 7th, Lake Resources appointed David Dickson as CEO and managing director after six months of searching. Dickson has a proven track record in successfully delivering multi-billion-dollar resource projects and thus is expected to fast-track Lake Resources’ key projects and marketing milestones in North and South America. After the announcement, Lake Resources jumped up nearly three percent, being the only ASX 200 materials share that recorded a gain that day. Lake Resources welcomed their new CEO Despite the broad downtrend across the stock market, forward-looking investors have been drawn to the rising lithium prices and bright outlook alongside the ASX lithium shares outperforming record for this year. Indeed, the global demand for lithium is expected to grow at an enviable pace and surpass two million metric tons of lithium carbonate equivalent in 2030, more than doubling the demand forecast for 2025. Lithium is a core ingredient in the batteries that power the world’s ever-growing fleet of EVs. With the world transitioning from fossil fuels, the sharp increase in EV battery demand is set to be an exceptionally strong driver of lithium consumption in the next decade or even longer. Source: Statista However, even in light of the robust demand, the competition that Lake Resource faces is far from easy. In terms of market capital, Lake Resources only made it to the ninth position in the Australian lithium market and on a production scale, Lake Resources has some way to go before being noticed as one of the top players. Therefore, it's understandable that a new phase in the company's history painted with a scalable and innovative prospect brought by the new leader is viewed as the best news for the shareholders. As Mr Dickson stated, “Lake Resources has the opportunity to set a new global standard for producing clean, high-purity lithium at speed and scale, at a time when lithium demand is growing rapidly. To be a part of the global energy transition and bring a crucial new technology into large-scale lithium production is an immense privilege.” Source: Market Index Lake Resources technical analysis Lake Resources shares have been in sensational form over the past three months with the share price climbing up 20% last week, and 80% higher since mid-July. While the price retreated in the new week, it remained above the 20-day moving average to suggest the near-term momentum stays valid. Any further slips would be supported by the 50-day moving average before retesting the critical 23.8% Fibonacci level at $1.018. If the price keeps climbing in the upcoming days, the pressure will come from the August high at $1.487. Lake Resources weekly chart Source: IG Hebe Chen | Market Analyst, Melbourne 13 September 2022
  5. Hi @me8932, Effectively the PRT Demo accounts are only temporary unless you have a live PRT account. Please reach out to helpdesk.uk@ig.com, they can investigate and grant access to PRT demo. Thank you - Arvin
  6. Hi @JRW95, Thank you for your post. Effectively the position tab can't be opened in a new window like a market chart. I will forward your feedback to the relevant department to be reviewed. All the best - Arvin
  7. EUR/USD and GBP/USD regain more of their recent losses while EUR/GBP looks to be capped. Forex Euro Pound sterling EUR/USD GBP/USD EUR/GBP EUR/USD probes resistance after last week’s 75-basis point ECB rate hike EUR/USD continues to flirt with its $1.0079 to $1.0097 late July low and late August highs following last week’s European Central Banks (ECB) unprecedented 75-basis point (bp) rate hike and Bundesbank President Joachim Nagel stating over the weekend that the ECB will need to continue raising interest rates if high inflation persists. With policymakers pursuing a hawkish stance and reportedly prepared to deliver another massive 75bp rate hike in October, the Euro is likely to revisit last week’s high at $1.0113. If overcome, the 55-day simple moving average (SMA) at $1.0146 and perhaps the 17 August high $1.0203 may be reached next. Minor support comes in around parity, a psychological level market participants keep an eye on. Source: IT-Finance.com EUR/GBP continues to flirt with the July peak Last week EUR/GBP rallied to £0.8711, close to its June peak at £0.8721, following the ECB’s 75bp rate hike in September before consolidating. On Monday morning the cross continues to trade near the July and early September highs around £0.8677 while retaining a slightly bullish bias as UK gross domestic product (GDP) grows by a less than expected month-on-month (MoM) 0.2% in July, industrial production drops by -0.3% (versus an expected 0.4%) and manufacturing production comes in weaker than expected at 0.1% (instead of a forecast 0.3%). While Thursday’s intraday low at £0.8655 underpins, an immediate upside bias should be maintained. A rise and daily chart close above the June peak at £0.8721 would mean a significant break out of a key resistance zone and would open the way for the £0.8797 early February 2021 high to be reached. Were a reversal to the downside to unfold, though, and Thursday’s low at £0.8655 to give way, another interim top would likely be formed with the current September low at £0.8567 being back in the firing line. The fact that negative divergence can be spotted on the daily relative strength index (RSI) points to the toppish scenario remaining the more likely one. Source: IT-Finance.com GBP/USD recovers further from its 37-year low GBP/USD recovers further from last week’s $1.1406 low, a level last traded in 1985, amid a postponed Bank of England (BoE) meeting due to Her Majesty Queen Elizabeth II’s passing last week and a period of national mourning being adhered to in the UK. The next BoE meeting will now take place on Thursday the 22 of September instead of this Thursday. With the UK showing its smallest trade shortfall since last December with its trade deficit narrowing to GBP 7.8 billion in July from GBP 11.4 billion in the previous month while imports of goods and services to the UK fell by 1.6% from a month earlier, GBP/USD continues to rise. A minor bullish trend reversal is taking place with the July and 23 August lows at $1.1718 to $1.1761 being in focus. Potential slips below the 6 September high at $1.1609 should find support around the $1.15 mark which acted as support in early September. Source: IT-Finance.com Axel Rudolph | Market Analyst, London 12 September 2022 19:07
  8. Four stocks to watch following the end of August's earnings period. Indices Shares Stock ASX Market sentiment This issue of Investor Spotlight is brought to you by IG, with Kyle Rodda, Market Analyst and ausbiz presenter. In this piece, we take a look at how the market reported and take a look at four stocks that moved off the back of their results. How did the ASX 200 do this reporting season? Generally speaking, the ASX 200 delivered better than expected results during the reporting. Due to how corporates release their effects on the ASX, not every company delivered a half or full-year update during the period. However, an overwhelming majority did, with 166 reporting. Based on numbers derived from Reuters data, profits grew by 56.5 per cent over the year, while dividends dipped by a modest 1.7%. According to an analysis performed by FN Arena, 30 per cent of companies reported better than expected results, 40 per cent posted in line with expectations, and the remainder missed estimates. By August and the reporting season end, the ASX 200 finished a slim 20 points higher. Four stocks to watch following report season Here are four stocks that delivered eye-catching results for the period, and maybe ones to watch going forward. Whitehaven Coal (WHC) Whitehaven Coal was one of the market's stand-out performers in August. Largely due to surging coal prices, Whitehaven also handed down its full-year earnings during the month and delivered a much stronger than expected set of financials. Profits beat consensus by more than 10 per cent. While the dividend was lower than expected at $0.48, commitment to further buybacks offset some of that disappointment. Whitehaven also delivered an upbeat assessment of business going forward, stating it expects elevated thermal coal prices to continue as energy shortages bite parts of the world. Whitehaven’s technicals show very bullish price-action, with price action going parabolic in recent months. The stock hit a new record high in the month of August, breaking resistance at the previous all-time high around the $7.30 level. The trend looks skewed to the upside for Whitehaven shares. However, the weekly RSI is at extreme oversold readings, suggesting buying the stock here might come with unattractive risk and reward at current levels. Whitehaven Coal weekly chart Source: IG A2 Milk (A2M) The market rewarded A2 Milk’s full-year results, with the company another one of the best performers during the earnings period. A2 Milk’s profits came in at $123 million for the full year, exceeding the $110 million consensus estimate. Revenues also beat by a solid 3%. The company’s English label product drove the success, though the growing China segment continued to perform solidly with revenue growth of 12% and growing market share, all despite demand headwinds in the country. Guidance came in line with expectations but market participants welcomed the strategic outlook from the company’s management in its earnings call. A2 Milk’s share price is showing signs of bottoming currently. The price is potentially building a rounding base, with the weekly RSI trending higher and above the 50-point mid-line, suggesting upside momentum. Resistance at $5.00 has been broken and the share price has consolidated above the 50-week moving average. An investor may wish to wait for signs of consolidation above $5.00 before buying in. The next level of resistance is around the $6.00 level, with major resistance at $7.40. A2 Milk weekly chart Source: IG Altium (ALU) Altium smashed estimates for its full-year results and was one of the ASX 200’s biggest one-day rises on the day of its earnings with a nearly 20% rally. Underlying profit was 10 per cent higher than the market had been expecting, driven by strong growth in the business’ Design software and Octopart products. Guidance was also stronger than expected, with FY23 forecast to deliver earnings growth between 15 and 20 per cent, which is four per cent higher than markets’ estimates going into the reporting period. This comes despite the company flagging weaker subscriber growth and headwinds in China. The share price of Altium has been stuck in a long-term range. However, a recent break-out has pushed short-term momentum to the upside, with price testing resistance at $38 per share. A break of that level might see further buying pressure push the stock into the $40s once again. While technical support might come from the confluence of major weekly moving averages just below $35 per share. Altium weekly chart Source: IG Wisetech (WTC) Wisetech’s FY22 results saw its stock launch from its recent lows, despite delivering a set of numbers largely in line with expectations and providing guidance within existing forecasts. Such was the bearish sentiment towards the stock, that the numbers drove a significant 12% gain on the day of the result, supported by the company announcing a new partnership with UPS. The stock ended the month of August 16 per cent higher and near a new record high. Wisetech’s August surge has propelled its share price towards resistance at $60 per share. A break to new record highs might see new buyers emerge and push the stock higher. A failure to make a decisive break at that level could drive a pullback in the company’s stock. The 50-week moving average is a level that’s previously acted as strong support and might offer attractive risk and reward to an investor wanting to buy into the primary uptrend. Wisetech weekly chart Source: IG Kyle Rodda | Market Analyst, Australia 12 September 2022
  9. Weak earnings could make DroneShield shares an interesting buying opportunity for investors with a healthy risk appetite. Source: Bloomberg Indices Shares Australian Securities Exchange Software as a service ASX War DroneShield (ASX: DRO) shares are hard to pin down. The penny stock has fallen by 26% since its Initial Public Offering in 2016 and by 15% over the past year. And it’s fallen by 19% to AU$0.17 over the past month alone, after delivering poor half-year results. But the company is an intriguing proposition. It offers Artificial Intelligence-powered hardware and software solutions against unmanned threats from drones, selling them to governments, military, airports, and commercial venues across 120 countries. And it believes that the Counterdrone industry is now a US$10 billion global market opportunity. Moreover, DroneShield shares spiked in 2017 and 2019 far above their current price level. But as with all penny stock investing, the opportunity for high rewards comes with correspondingly magnified risks. DroneShield share price: half-year results Earnings made for fairly poor investor reading. Revenue fell by 45% compared to half-year FY21 to just $3.67 million, while loss from continuing activities after tax rose by a whopping 990% to $4.93 million. Worse, the tech company’s cash and cash equivalents fell by 51% to $6.59 million as it posted a loss of $1.17 per share, up from only $0.12 per share for the same period last year. The company plans ‘to move into the Software-as-a-Service (SaaS) space through the use of subscription pricing models on a range of products...the software/SaaS business is expected to account for the majority of the Group’s earnings.’ However, while hardware sales, which comprise the bulk of the company’s sales, fell from $4.23 million to $2.81 million, subscription revenue only rose from $58,000 to $140,000. This could be a risky plan that may not pay off. At least one key risk has been addressed; it has invested in ‘substantial inventory acquisition to mitigate supply chain delay risks,’ maintaining $15 million of inventory at hand. Source: Bloomberg Where next for DroneShield shares? While war is always a human tragedy, increased geopolitical tensions are usually good news for defence stocks. The ASX company acknowledged the ‘highly favourable macro environment for DroneShield due to increased macroeconomic uncertainties...war in Ukraine demonstrating extensive use of small drones by both sides, and rapidly increasing defence budgets globally including by the Australian Government’ as one of its key highlights in the results. Moreover, as the risk of Sino-Taiwan conflict escalates, the need for DroneShield’s hardware is becoming ever more necessary in the modern theatre of war. In August, video emerged of Taiwanese soldiers throwing rocks at a Chinese drone; while Taiwan boasts strong defensive capabilities, this point could represent an Achilles heel. Accordingly, despite the share price slip, DroneShield has a $250 million global sales pipeline, including $100 million of projects tracked to the end of 2022. Most significantly, it has agreed a $3.8 million 2-year long contract with the Australian Department of Defence in the Electronic Warfare/Signals Intelligence arena, and anticipates an expansion after its completion in mid-2023. The company has also won a $2 million contract from a European government customer for its DroneSentry, a small tower that uses AI to detect and respond to hostile drones. CEO Oleg Vornik argues that ‘this order continues our progression from developing the tech, to smaller sales, to repeat smaller size, to presently realising larger contracts...this contract reinforces our position as a global leader in the rapidly growing counterdrone sector.’ Further, it’s seen a ‘continued rapid increase in the US business, including signing a framework agreement with the State of Texas, receiving a counterdrone contract for protection of IRONMAN Texas, and DroneShield’s initial GSA order.’ And in the UK, it’s achieved UK MOD SAPIENT compliance, meaning it meets the country’s military standards. Last month, Peloton Capital analyst Darren Odell argued that the ASX company is at ‘an inflection point.’ He expected 2022 revenue to reach between AU$20-30 million, before spiking to AU$170 million in 2023 as ‘governments worldwide...become increasingly concerned about the growing risks from drones.’ Of course, this optimistic prediction came before the disappointing half-year results. But for investors with a high-risk tolerance, DroneShield’s share price dip may be an ASX buying opportunity. Charles Archer | Financial Writer, London 09 September 2022 Take your position on over 13,000 local and international shares via CFDs or share trading — all at your fingertips on our award-winning platform.* Learn more about share CFDs or shares trading with us, or open an account to get started today. * Winner of ‘Best Multi-Platform Provider’ at ADVFN International Finance Awards 2022.
  10. Hi @Pringle45, Thank you for your post. Here are the accepted payment methods on IG : On IG we do not accept Cryptocurrencies as a payment method, and we do not offer Crypto wallets. You will need to find another payment method, maybe someone on the Community can advise on their own experience. I hope that it helps. If you need further assistance, please reach out to helpdesk.uk@ig.com Thank you - Arvin
  11. Hi @VijayKiran, Thank you for your post. You can reach out to webapisupport@ig.com for support on API. Thank you - Arvin
  12. The euro has had some reprieve against a staunch US dollar; a hawkish ECB might suit the euro against the Japanese yen and if the ECB raises rates by 75 bp today, where will it send EUR/USD? Source: Bloomberg Forex European Central Bank Federal Reserve United States dollar Central bank Bank of Japan The EUR has found some strength going into today’s European Central Bank (ECB) meeting after better-than-expected euro wide GDP figures yesterday. The final annualised GDP of 4.1% to the end of July beat forecasts of 3.9%. The ECB is anticipated to raise rates by 75 basis points according to a Bloomberg survey of economists. The overnight index swaps (OIS) market is slightly less convinced, pricing in a lift of around 67 bps. Central banks globally are tightening to rein in runaway inflation with the Reserve Bank of Australia (RBA) and the Bank of Canada (BoC) already raising rates this week. The Federal Reserve have made it clear that they are serious about tackling price pressures. Yesterday we heard from Federal Reserve Bank of Cleveland President Loretta Mester and Federal Reserve Vice Chair Lael Brainard. They both reiterated their hawkish stance. They presented a view from within the Fed that rates will be notably higher and a cut in 2023 is not currently on the cards. This has pushed Treasury yields across the curve to levels not seen for many years. The two-year note traded at 3.55% overnight, a yield not seen since before the financial crisis in 2007. Higher Treasury yields has helped to underpin the US dollar more broadly and EUR/USD has been under pressure for some time. A problem for the ECB in their fight on inflation is the fragile economic state of the union. The Russian invasion of Ukraine has placed enormous strain on energy supply. The benchmark Dutch Title Transfer Facility (TTF) natural gas futures contract has pulled back from astronomical highs seen in August but remains significantly elevated. Until late 2021, the contract rarely traded above 25 euro per Mega Watt hour (MWh). In August it hit a peak of 342 euro per MWh and is trading near 220 euro per MWh. While this is a welcome retracement, at this stage it doesn’t appear to be enough to move the dial on EU CPI expectations. Last week, EU PPI printed at 37.9% year-on-year to the end of July. The lead-lag effect of PPI into CPI is well understood by central banks and the ECB raising rates today might be joined by several more down the track. Elsewhere, EUR/JPY is nearing a seven-year high as Japan grapple with their own economic problems. The island nation depends on importing energy and face a similar problem to Europe in that regard. Additionally, the Bank of Japan (BoJ) are swimming against the tightening tide and doubled down on their yield curve control program (YCC) this week, maintaining loose monetary policy. A hike from the ECB looks to be playing catch up to the Fed but it would widen a gap with the BoJ. A difference of reaction in EUR/USD and EUR/JPY could reflect that disparity. EUR/USD versus EUR/JPY Source: TradingView Daniel McCarthy | Strategist 08 September 2022 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. 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.
  13. USD/JPY rallies to a fresh yearly high as it extends the series of higher highs and lows from earlier this week. Source: Bloomberg Forex United States dollar Japanese yen USD/JPY Federal Reserve Exchange rate USD/JPY extends the advance from the start of the month despite the recent pullback in US Treasury yields, and the bullish momentum underlying the exchange rate looks poised to persist as long as the RSI holds above 70. As a result, USD/JPY may attempt to test the August 1998 high (147.67) as Federal Reserve Vice-Chair Lael Brainard warns that “monetary policy will need to be restrictive for some time,” and expectations for higher US interest rates may keep the exchange rate afloat ahead as the central bank appears to be on track to retain its current approach in combating inflation. In turn, USD/JPY may continue to track the positive slope in the 50-Day SMA (136.67) amid the diverging paths between the FOMC and Bank of Japan (BoJ), and it remains to be seen if the Fed will adjust the forward guidance at its next interest rate decision on September 21 as Chairman Jerome Powell and Co. are slated to update the Summary of Economic Projections (SEP). Until then, USD/JPY may continue to appreciate amid speculation for another 75bp Fed rate hike, while the tilt in retail sentiment looks poised to persist as traders have been net-short the pair for most of 2022. Source: DailyFX The IG Client Sentiment report shows only 21.58% of traders are net-long USD/JPY, with the ratio of traders short to long standing at 3.63 to 1. The number of traders net-long is 6.78% higher than yesterday and 0.85% lower from last week, while the number of traders net-short is 1.10% higher than yesterday and 14.73% higher from last week. The decline in net-long position comes as USD/JPY trades to a fresh yearly high (144.99), while the rise in net-short interest has fueled the crowding behavior as 24.40% of traders were net-long the pair last week. With that said, USD/JPY may attempt to test the August 1998 high (147.67) as it extends the series of higher highs and lows from earlier this week, and the overbought reading in the Relative Strength Index (RSI) is likely to be accompanied by a further advance in the exchange rate like the price action from earlier this year. USD/JPY rate daily chart Source: TradingView David Song | Analyst, DailyFX, New York City 08 September 2022 This information has been prepared by DailyFX, the partner site of IG offering leading forex news and analysis. 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.
  14. Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 12th September 2022. These are projected dividends and likely to change. IG cannot be held responsible for any changes made. Dividends highlighted in red include a special dividend, therefore some or all of the amount will not be adjusted. Amount in brackets is the expected adjustment after special dividends excluded (where shown on major indices). Dividend adjustments due to be posted on a bank holiday will usually be posted on the previous working day. If you have any queries or questions on this please let us know in the comments section below. For further information regarding dividend adjustments, and how they affect your positions, please take a look at the video. NB: All dividend adjustments are forecasts and therefore speculative.A dividend adjustment is a cash neutral adjustment on your account. Special Dividends Index Bloomberg Code Effective Date Summary Dividend Amount SPX EOG US 14/09/2022 Special Div 1.5 How do dividend adjustments work? 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.
  15. Hi @BBHoward, Thanks for your post. The Bid column should be your right hand side column. The current price shows the the lowest price and quantity available at that price, for example you can buy 56 shares at 1100.00 for ANTO, if you want more shares. The next best price would be 1101 with two sellers, one happy to sell at 1101 another with 164 shares available and one with 247 shares at the same price. Hence the prices are in a increasing order. For example: If you are purchasing 1000 shares for examples, you will be filled using current offer and the 4 rows below the current price. I hope that it helps. If you need further assistance please reach out to helpdesk.uk@ig.com. Thank you - Arvin
  16. The luxury car manufacturer launched the fundraising to pay down its debt mountain Source: Bloomberg Shares Aston Martin Debt Car Luxury car Interest Shares in Aston Martin Lagonda slumped by 16% on Monday to 405p after the company priced its rights issue at a substantial discount. The luxury car manufacturer, favoured by James Bond, is launching a four for one rights issue to raise £575.8 million. As such, the company is issuing 559 million shares priced at a 78% discount to last Friday’s closing price. Aston Martin rights issue to pay down debt Half of the proceeds will be used to deleverage the company, which has £1.3 billion of debt, as well as invest in new car production. Existing investors Yew Tree Consortium and Mercedes Benz participated in the rights issue, which also brings in Saudi Arabian sovereign wealth fund PIF. Aston Martin Lagonda told investors that since the Yew Tree Consortium invested in early 2020, the company had made “significant progress to fulfil its vision of becoming the world's most desirable ultra-luxury British performance brand.” It said that the company has also managed to reduce manufacturing costs by 20% per unit and seen a “significant increase in brand awareness, expanding the Group's reach, with 60.5% of customers in the 12 months leading up to June 2022 new to the brand.” The return of Aston Martin to the Formula 1 grid also boosted sales. Aston Martin still reeling from Covid-19 However, management also acknowledged that the Covid-19 pandemic also had “a significant detrimental impact on the business in 2020, which led to a refinancing at the end of that year,” leaving the company with a “significant debt burden and associated interest costs,” which it wished to solve. The effects of the Ukraine war and supply chain issues have also weighed on the company. At the half-year results in July, revenues rose by 9% to £541.7 million (from £498.8 million). However, total wholesale volumes fell by 8% to 2,676 units (from 2,901), while losses before tax tripled to £285.4 million from £90.7 million in 2021. Nevertheless, trading is expected to pick up for the full-year, with free cash flow forecast to turn positive in the second-half. Management anticipate “significant growth on 2021,” with an estimated 8% increase in unit sales and a 50% improvement in adjusted EBITDA (earnings before interest, tax, depreciation and amortisation), boosted by the Aston Martin Valkyrie and DBX707. Its first electric model is due for release in 2025. However, potential flies in the ointment include the Ukraine war, Covid-19 lockdowns in China, raw material price hikes and logistics and supply chain issues. Charles Coldicott, auto sector analyst at Redburn, told the FT the company may also face relegation from the FTSE 250 later this year. Shares in the car maker have fallen by 78% this year and currently trade at 434p. The rights issue should solve the debt burden, however even Aston Martin’s customers may not be immune from the cost of living crisis and rampant inflation. Piper Terrett | Financial writer, London 08 September 2022
  17. Hi @pfc, Did you reach out to newaccountenquiries.uk@ig.com ? I do know that you will need to provide proof of address. If your residential address is outside of UK and you provide a a proof of tax residency in UK, it is possible that your account can't be open. The account opening team, will be able to confirm the above. Thank you - Arvin
  18. We have a look at what's going on with DogeCoin, what's happened to the value of NFTs, and the state of digital assets. Forex Shares Dogecoin Cryptocurrency Blockchain Economic bubble Financial bubbles can only be seen in hindsight. Though the signs can be witnessed at the time, it’s only when things pop that a bubble can truly be defined. Whether it’s tulips, housing, tech stocks or something else, a euphoric rise in prices is so often followed by a fall. In this week’s Crypto Verse, we take a look at some of the frothier areas of the crypto sphere, with a special look at what’s happening right now with Dogecoin. Reflecting on the bubble and bust Looking back, it was all so clear. The rally in everything that saw just about every asset in the world soar carried crypto-assets to heights not seen in its history - and thrust words like blockchain and non-fungible tokens into public consciousness, and phrases like mooning and diamond hands into the financial vocabulary. Like any boom, there had to come a bust, with an aggressive pivot in policy from the US Federal Reserve at the end of 2021 draining the bullishness from crypto-assets. Bitcoin prices dropped as much as 75% and threaten to fall further. Many alt-coins - many of which with names you’d feel sheepish about uttering to your financial advisor - crashed, including the high-profile Luna. A handful of brokers and exchanges, like Celsius, went bust, with many traders’ money taken with it. The state of Bored Apes and other NFTs Source: CoinGecko Like anything in the crypto-universe, the essence and function of non-fungible tokens were overwhelmed by rampant financial speculation in 2021. A mechanism by which to secure and verify information or an asset on the blockchain, the emergence of digital art held on an NFT attracted extraordinary sums of money to the space. Of course, like anything in the art world, prices can be driven by nefarious activities like tax evasion and money laundering. One of the most high-profile sales was of work done by digital artist Beeple, who sold a piece for an eye-watering $US69 million. While the work’s current value is difficult to ascertain, other transactions in recent months show a monumental drop in the value of NFTs. An NFT of Jack Dorsey’s first tweet sold for just $280 earlier this year, after selling for $2.9 million in March 2021. The Bored Ape Yacht Club, which counts the likes of Justin Bieber and Shaquille O’Neal as members, has fallen by over half from its peak. Jokes over: what's happening with DogeCoin? Source: Bloomberg The original alt-coin and perhaps explicitly meme trade was DogeCoin. It was created in 2013 by Bill Markus and Jackson Palmer explicitly as a joke, but still functions as a peer-to-peer payments platform, with some businesses accepting Doge as payment. The key difference with a counterpart like Bitcoin is DogeCoin does not have a finite supply, meaning that in principle, there’s no scarcity and is of diminishing value. There are several high profile advocates of DogeCoin, chiefly amongst them Tesla CEO Elon Musk, who owns the coin, and has claimed he’d be more greatly invested if it weren’t for a small number of “whales” who own most of the crypto and can therefore dictate its price. Musk has major influence over the price, moving it often via his personal Twitter. Incidentally, the value of DogeCoin hit its peak after Musk appeared on Saturday Night Live, and labelled it “a hustle”. Technical analysis of DogeCoin DogeCoin is a clear downtrend, and is off by around 90% since Elon Musk’s SNL performance. The set-up looks increasingly bearish for the crypto, with the recent drop in risk-assets moving price with its prevailing downtrend. Major support is around $0.05, which if broken, could invite greater selling from traders. Resistance can be found around a confluence of levels around $0.09 - $0.10, which may offer attractive risk-reward to fade any rally. Of course, particular caution should be taken when trading DogeCoin because of its high volatility and relative illiquidity. DogeCoin daily chart Source: IG
  19. VALUE AND GROWTH STOCKS: Value and growth stocks valuations will be impacted differently by a shift in the monetary policy outlook Value tends to outperform the growth factor when the Fed increases interest rates When interest rates fall in the economy, growth companies outperform their value counterparts Most Read: How Does the Stock Market Affect the Economy? A Trader’s Guide When the Federal Reserve adjusts its monetary policy stance by either raising or lowering borrowing costs, the investment landscape changes, becoming more friendly or more hostile to the equity market. In this article, we will discuss how valuations and performance of value and growth stocks tend to be affected by rising and falling interest rates, but before we get to that, some context and definitions need to be established. GROWTH STOCKS Growth companies are often unprofitable and have speculative prospects, but investors are willing to pay a premium to own them because they have an innovative business/product that has the potential to deliver above-average returns over a long-term horizon, although there are no guarantees. They are riskier and therefore more volatile than the market in general, but their share prices usually rise faster than typical stocks because of their strong earnings growth outlook. Often, these high-flyers focus on increasing future revenue at the expense of delaying profitability, reinvesting their earnings into product research and expansion, so they do not frequently distribute capital to shareholders through dividends or buybacks. VALUE STOCKS Value stocks sit on the opposite spectrum. These are mature companies with a well-established business, solid balance sheets, proven history of financial performance and steadier but low growth over time. Despite their high quality and solid fundamentals, they have fallen out of favor and lost their “WOW” factor, so they trade a discount to the market and appeared undervalued based on various financial metrics such as price/earnings, price/book, cash flows, etc. Value companies typically pay dividends, offer lower volatility, and carry less risk than the market, but their share prices rarely experience explosive upward movements similar to those seen in the growth universe. It is clear from the above introduction that different stocks have different characteristics; they are not created equal, so they will be affected by changes in monetary policy in dissimilar ways, but to try to gauge the possible impact, it is first necessary to understand a little about valuations. Very simplistically, the value of a company can be thought of as the present value of expected earnings. By buying Apple’s shares, for example, a long-term investor has acquired an ownership claim in the company's profits over time. To assign an intrinsic value to the perpetual cash flows associated with the business’ operations, analysts first forecast earnings growth and then discount the sum of the projected income stream to today's dollars using a discount rate, usually a risk-free rate such as the 10-year U.S. Treasury yield. This is where interest rates play a huge role in equity investing. Related: Everything You Need to Know About Types of Stocks Let’s now analyze two imaginary companies, with different earnings profile over the next decade to determine how their value are affected by a changing interest rate environment. To do so, we’ll rely on a basic discounted cash flow model, using the formula below: The model is very basic and omits key variables for simplicity, but for our purposes is enough. 1. Value Company: Company XYZ is a well-established oil producer. XYZ is expected to generate $1,000,000 in cash flows next year, and grow them by 4% every year for the next 10 years. Let’s now value this company with the U.S. 10-year yield at 0.25% and then at 3%. 2. Growth company: Company ZZZ is a recently founded tech firm that launched an innovative cloud storage software. ZZZ is expected to generate $50,000 in cash flows next year, and grow them by 90% every year for the next 10 years. Let’s proceed to value this company with the U.S. 10-year yield at 0.25% and then at 3%. Related: How to Research Stocks - A Step by Step Guide CONCLUSIONS The tables above show that higher discount rates produce lower equity values, but the effects vary across investment styles. In general, however, growth companies will be more sensitive to rising interest rates because of the nature and path of their cash flows: little in their early stages, large later in their life cycle. Going back to the two hypothetical examples, growth company ZZZ lost 21.3% of its value when the discount rate used went from 0.25% to 3.0%. In real life, the less attractive valuation will likely coincide with a steep drop in the company’s stock price. Company XYZ was also affected by the change in the rate environment, but its present worth only fell by 14.3%, suggesting that companies with value characteristics may fare better when monetary policy becomes more restrictive. Focusing on real life examples, the charts below are composed of two panels. The upper panel shows the ratio between IWD (iShares Russell 1000 Value) and IWF (iShares Russell 1000 Growth), and the lower panel displays the U.S. 10-year yield by itself. Chart 1 is from January 2020 to May 2020. During this period, when the 10-year yield dropped from about 1.89% to 0.66%, the IWD/IWF ratio declined roughly 19%, pointing to strong growth outperformance. CHART 1 - IWD/IWF RATIO VS US 10-YEAR YIELD (JANUARY 2020-MAY 2020) Source: TradingView Chart 2 is from January 2022 to May 2022. During this time span, the 10-year yield climbed from 1.50% to about 2.85%. Simultaneously, the IWD/IWF ratio advanced roughly 20%, indicating strong value factor outperformance in an interest rate environment. CHART 2 - IWD/IWF RATIO VS US 10-YEAR YIELD (JANUARY 2022-MAY 2022) Source: TradingView EDUCATION TOOLS FOR TRADERS Are you just getting started? Download the beginners’ guide for FX traders Would you like to know more about your trading personality? Take the DailyFX quiz and find out IG's client positioning data provides valuable information on market sentiment. Get your free guide on how to use this powerful trading indicator here. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES Diego Colman, Market Strategist for DailyFX 07 September 2022
  20. US STOCK MARKET KEY POINTS: The S&P 500, Dow and Nasdaq 100 grinded into long-term supports. Services PMI surprised to the upside triggering a skyrocketing effect on US Treasury yields and pushing the USD higher All eyes on the FED’s Jerome Powell speech on Thursday which follows the ECB’s rate decision. Most Read:Central Bank Watch: BOC, RBA, & RBNZ Interest Rate Expectations Update Corporate earnings season is now in the rearview mirror and trading volume is picking up as the summer winds down, and investors are focusing on the state of the economy by assessing the day-to-day numbers on the Economic Calendar. Today, the ISM Services PMI showed an expansion in the month of August supported by a pickup in new orders and business activity. The upbeat report suggests that despite tighter financial conditions, consumer demand remains strong, spurring optimism about the state of the economy as the service sector accounts for more than 75% of the GDP. In addition, the decline in prices paid appears to give the green light to the FOMC’s continued tightening cycle. Therefore, in an environment where the labor market continues to be strong (confirmed by the August NFP numbers), consumption is robust, inflation is softening and financial conditions are tightening, US Treasury yields moved higher across the curve today. The 10-year rate jumped 11 basis points to 3.34% giving the US dollar index (DXY) some room to rise to fresh 20-year-highs. USD INDEX (DXY)MONTHLY CHART US Dollar Index (DXY) Monthly Chart Prepared Using TradingView Meanwhile risk assets struggled, and US equity indices were unable to hold early-session bids as prices fell back to key supports. The Dow fell 0.54% and the S&P 500 lost 0.40%. Both indices tested an important support zone as they hovered around the 23.6% Fibonacci retracementlevel of the 2022 sell-off. S&P 500 (SPX)WEEKLY CHART S&P 500 (SPX) Weekly Chart Prepared Using TradingView On that note, almost all S&P sectors suffered setbacks today. Communication Services and Energy were the outliers that led the declines. Weighing on the energy sector werecrude oil prices that continued to struggle as higher interest rates stokefears that demand will eventually take a hit. Follow the link to Learn Crude Oil Trading Strategies and Tips . On the other hand, the Nasdaq100 posted a loss of 0.72% driven by the negative effects of rising interest rateson Growth Stocks. For the time being, the psychological level of 12,000, which sits around the 23.6% Fibonacci level, remains in place. A downward movement would open the door to further losses, with focus towards the June lows. NASDAQ 100 DAILY CHART Nasdaq 100 Daily Chart Prepared Using TradingView Looking ahead for guidance, it is important to keep an eye on Fed Chairman Jerome Powell’s speech on Thursday, as the next FOMC monetary policy decision is scheduled for September 21st. Although the August CPI will be released next Tuesday, September 13th and this will be a widely-watched focal point that will give more information on the pace of inflationary pressures. EDUCATION TOOLS FOR TRADERS Are you just getting started? Download the beginners’ guide for FX traders Would you like to know more about your trading personality? Take the DailyFX quiz and find out IG's client positioning data provides valuable information on market sentiment. Get your free guide on how to use this powerful trading indicator here. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. DISCLOSURES Cecilia Sanchez-Corona, Research Team, DailyFX 07 September 2022
  21. Hi @traveler, Unfortunately, there isn't a shortcut to export the chart, generally speaking there is no keyboards shortcuts on the platform. It is to avoid fat fingers errors where clients could open or close position by inadvertence. Thank you - Arvin
  22. Hi @Almatoere, Thank you for your post. We apologise for the inconvenience cause by the issues faced on our platform. In order to assist you with your dealing issue and investigate your inability to close the trade, please follow the instructions below: Please send us an email providing details of the price you first intended to close the position, the actual price closed at, the exact time you tried closing and further details of the trade with any supporting evidence (screenshots, recordings). We'll investigate and Cash Correct if need be. For further assistance on dealing queries, please reach out to helpdesk.uk@ig.com Thank you - Arvin
  23. Hi @traveler Thank you for our post. There isn't a snapshot feature. But you can open the market or ticket in a new window, your account details shouldn't show up : I hope that it helps ! All the best - Arvin
  24. Apart from Nvidia's share price falling 16% last week and experiencing worse-than-expected quarterly results, the US government has stepped in to restrict AI chip sales to China and Russia. Source: Bloomberg Shares Nvidia United States China Integrated circuit Artificial intelligence What happened to Nvidia? The end of August saw Nvidia state in an SEC filing that the US government is restricting the sale of its high-performance AI chips to China and Russia. The chips, created for the A100 and H100 servers, come from the company's fastest-growing sector, heralding $3.8 billion in sales last quarter, a 61% yearly growth. According to the recent preliminary financial results for the second quarter Fiscal 2023, Nvidia's total revenue of $6.7 billion was down 19% and only up 3% year-on-year. Based on the new export ban, Nvidia will lose $400 million in potential sales in China for the current quarter and more than one billion for the whole year. This loss further deteriorates the revenue outlook for the company. Source: Nvidia The main reason behind the US's sudden move is to prevent the world-leading graphics processors made by Nvidia and AMD to be used for China’s weapon development, facial recognition and other advanced military capabilities. The steps taken by the US are seen as an expected response to the recent rising tension between China and Taiwan. What to expect next? While it is not clear what actions the US government will take to restrict American businesses from exporting chips and other high-tech products, the message for Nvidia is clear: the company is caught in the cross-hairs between two global superpowers. The tricky political game will likely further complicate Nvidia's situation, leaving the company in uncertain territory. That said, even if the US government allows Nvidia to continue developing its H100 artificial intelligence chip in China, the damage has already been done. China will undoubtedly take this as a pre-warning sign of payback, meaning shareholders shouldn't expect the “tit-for-tat” to end anytime soon. Nvidia's technical analysis After last week’s nosedive, the stock price for Nvidia has fallen by over 50% this year and is 60% lower than its November peak. Given all the headwinds ahead including the slowdown in PC and gaming sales, inflation pressure, and the US restricting AI chip sales, it’s unlikely to expect a quick turnaround any time soon. However, for the long-term believer, Nvidia still enjoys market leadership in areas like the cloud gaming market, with the outlook to be worth $22 billion by 2030 to bolster the business’s sustainable growth in the long run. From a technical point of view, the stock price followed a steep descending track last week. The breach to the $144 level opened the floor from the yearly low and the current support sits around $135. If the price keeps moving below this level, the next support can be found at $125, not seen since March 2021. Meanwhile, a near-term breather might be at play if buyers take hints from the RSI indicator. Even so, traders must be aware that with the bears currently in control, any rebound from this level could leave the formation of a lower high on watch. Nvidia Corp daily chart Source: IG Hebe Chen | Market Analyst, Melbourne 06 September 2022
  25. The global oil market is hurtling into a new cycle of volatility with opposing catalysts feeding into a highly uncertain outlook. What will be impact after OPEC+ cut production and the G7’s planed price cap? Source: Bloomberg Commodities Petroleum Price of oil OPEC Group of Seven Barrel The price of oil: what happened? The global oil market is hurtling into a new cycle of volatility with opposing catalysts feeding into a highly uncertain outlook. On the geopolitical front, the Group of Seven (G7) countries plan to implement an oil price cap against Russian oil imports. The unprecedented move is designed to purchase Russian oil at a discount from prevailing market prices to limit Moscow’s profits to fund its war against Ukraine. According to a US Treasury official, the discounted rates could be regularly revised and calculated separately for crude oil and refined petroleum products. From the supply and demand perspective, the Organization of the Petroleum Exporting Countries Plus (OPEC+) met on Monday and agreed to a small production cut of 100,000 barrels per day to bolster prices. The group also decided they could meet any time in the following four weeks to adjust production before the next scheduled meeting on October 5. What will be the impact? Despite the fact that the oil price jumped after the OPEC+ decision, it's fair to say both moves are more symbolic than a fundamental shift. The proposed cap on the oil price may place some pressure on Russian export. However, the scale is limited. The G7 members that joined the new sanction include Britain, Canada, France, Germany, Italy, Japan, and the United States, all of whom have already limited or suspended their Russian petroleum purchases. But the most important export destinations for Russia's oil are China and India, which are unlikely to join. It is important to note that for the plan to be effective, the "discounted" price still needs to be above the cost of production to ensure incentive for its export. In other words, it's still profitable for Russia. Moreover, the trimmed margin to trade with G7 countries will accelerate flow to China and India, which will continue to benefit from a widening price gap. Similarly, the 100,000 barrels per day (BPD) reduction, which amounts to only 0.1% of global demand, is unlikely to reshape the demand and supply landscape in the oil space. Instead, it's more of a message with the intention to stabilize the price after retreating 20% in the past three months. Oil price technical analysis Brent Crude’s descent from mid-June seemly has reached its bottom with the price now moving above the previous trend line. Bolstered by the tailwind this week, the price is now heading towards a 20-day moving average and a 50% Fibonacci retreatment level at $96.73. Once breaking through this hurdle, buyers can expect the price to keep challenging the next resistance, the 50-day moving average sits at $98.36. On the flip side, a drop and daily chart close below the most recent low at $93.04 would engage the six-month low at $92. According to IG Client sentiment (September 6th data), 76.27% of traders are net-long with the ratio of traders long to short at 3.21 to 1. The number of traders net-long is 2.27% lower than yesterday and 32.29% higher than last week, while the number of traders net-short is 50.18% higher than yesterday and 41.05% lower than last week. Brent crude oil daily chart Source: IG Source: DailyFX Hebe Chen | Market Analyst, Melbourne 06 September 2022
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