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NadelinaIG

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Blog Entries posted by NadelinaIG

  1. NadelinaIG
    Oil prices at 4-year high after OPEC declines to raise supply  Bank holiday in China and Japan Trade Talks: Abe's trade discussion with Trump is "constructive" in second round, China will only hold trade talks once Trump stops threats Trade wars cause the European markets to dip, Brexit is also affecting  sentiment   Dollar remains steady, whilst Indian rupee drops  Asian overnight: A largely bearish affair overnight saw losses through the Hang Seng and ASX 200, as Japanese and Chinese markets enjoyed national holidays. The recent tariffs imposed by the US (and in turn China) have knocked back hopes for trade negotiations between the two biggest countries, with market sentiment taking a turn at the knowledge that the trade war will rumble on for some time yet. Meanwhile, crude prices rose after OPEC (and Russia) decided against raising production at Sunday’s meeting despite calls from Donald Trump to help drive prices down.
    UK, US and Europe: Looking ahead, a somewhat quiet economic calendar draws our attention to the German IFO business climate release, alongside the afternoon appearance from Mario Draghi. Expect the euro to be in focus, with last month’s sharp IFO bounceback expected to flounder, with a somewhat less impressive figure this time around.
     
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9am – German IFO index (September): business climate index to rise to 104 from 103.8. Market to watch: EUR crosses
    1.30pm – US Chicago Fed index (August): expected to rise to 0.2 from 0.13. Markets to watch: US indices, USD crosses. 
     
    Corporate News
    Michael Kors is said to be near agreement to buy Italy's Versace.  Randgold Resources has agreed to a merger with Barrick Gold to form an $18.3 billion company. Randgold shareholders will get 6.128 Barrick shares for each Randgold share.  Pennon said trading remained in line with forecasts and it was still on track to hit full-year expectations.   Comcast beat Fox in $39 billion Sky auction.  Thomas Cook has downgraded annual earnings guidance due to the warm summer weather. Earnings before tax and interest are now expected to be around £280 million. Total group bookings were up 12% over the year, but prices were down 5%. IGTV featured video
    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. NadelinaIG
    Asia stocks pull back as weakness in China outweighs NAFTA trade U.S. - Canada trade talks are making progress Dollar drops, whilst the pound is trading at a four-week high Extend overnight rally by oil prices German and Spanish inflation stabilization in August with economists estimating a rate of 2.1% for Germany and 2.3% for Spain Brexit talks remain deadlocked  Asian overnight:  A largely bearish session overnight has seen losses across China, Australia, and Hong Kong, as the optimism sparked by the breakthrough in talks between the US and Mexico fades ahead of Friday’s deadline for Canada to ratify a new NAFTA pact. The Nikkei was the one outlier, with the index gaining marginally after a better than expected Japanese retail sales figure overnight (1.5% from 1.7%). Conversely, the Australian data releases shifted into the opposite direction, with the fall in ANZ business confidence, private capital expenditure, and building approvals helping drag the AUD lower over the session.
    UK, US and Europe: Looking ahead, the growth story continues, with the Canadian GDP figure following on from yesterday’s strong GDP reading out of the US. Given the context of ongoing talks between the US and Canada over trade, markets will be interested to see the shape of the Canadian economy. Markets are looking for a sharp drop in the Canadian GDP figure, from 0.5% to 0.1%. Also keep an eye out for the US core PCE inflation number, alongside the personal spending and personal income figures.
    South Africa: After realising record highs last night, US Index Futures are trading lower this morning as are most Asian markets, suggestive of a slightly softer start for the Jse All Share Index today. US President Donald Trump has suggested that China has been disrupting the progress relating to disarming North Korea of its Nuclear weapons, furthering geo political and trade tensions. The dollar has remained firm and in turn put some pressure on metal prices and emerging market currencies such as the rand. BHP Billiton is trading 0.2% lower in Australia, suggestive of a marginally softer start for local resource counters. Tencent Holdings is trading 1.2% lower in Asia, suggestive of a similar start for major holding company Naspers. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    8.55am – German unemployment (August): rate forecast to remain at 5.2%, while unemployment is expected to rise by 5000, from a 6000 drop in July. Market to watch: EUR crosses

    10am – eurozone business confidence (August): expected to fall to 1.25 from 1.29. Market to watch: EUR crosses

    1pm – German CPI (August, preliminary): forecast to be 1.8% YoY from 2%. Market to watch: EUR crosses

    1.30pm – Canada GDP (Q2): expected to be 0.6% QoQ from 0.3%, while the annualised rate rises to 2.3% from 1.3%. Market to watch: CAD crosses

    1.30pm – US personal income & spending (July), initial jobless claims (w/e 25 August): income to rise 0.3% MoM from 0.4%, and spending to rise 0.4%, in line with last month. Initial claims to rise to 212K from 210K. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    WH Smith continues to see strong performance across their travel focused business, with the company continuing to open new stores in the UK and abroad. They now have 286 stores open internationally following the opening of eight stores in Madrid airport and one of six opening in Rio de Janeiro. Meanwhile, the high street continues to perform in line with expectations, with a continued focus on cost savings and margin improvements. Hays announced record international profits and total dividends for the year ended in June 2018, with net fees surpassing the £1 billion for the first time. The year saw operating profit (15%) and pre-tax profit (17%) both grow healthily, helping drive a, 18% rise in EPS. Deutsche Telecom Upgraded to buy at BofAML
    Vodafone downgraded to neutral at BofAML
    KPN downgraded to neutral at BofAML
    Worldline downgraded to hold at Berenberg
    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. 
     
  3. NadelinaIG
    Trump and Mexico reach trade to key parts of a trade deal to replace the current ‘NAFTA’ agreement. S&P 500 and Nasdaq closing at record highs for the second consecutive session. Dow finished above 26000 for the first time since February. Turkish lira sees a fresh sell off after a week long national holiday as investors don’t see an end to the US row. Netflix sees the appointment of a new communications officer, previously top executive to Facebook. Statement issued by Tesla on Friday stated “Elon communicates to the board that after having done all this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private”. Shares ended 1.1% down just under $320.  Toyota to invest $500m in Uber for self driving cars – valuing it at $72bn. Oil lost its earlier gains to trade flat this morning. Brent traded at $76.20 per barrel while U.S. WTI was at $68.84 per barrel. Saudi Aramco has dropped its IPO plan. Asian overnight: Asia pacific markets were trading largely in the green, as news of a positive resolution to US-Mexico trade discussions raised hope for talks between the US and China. Interestingly it was the Chinese stocks which failed to rally, while Japanese, Hong Kong, and Australian markets all traded in the green. A quiet economic calendar today saw the only overnight release come from the BoJ, with their core CPI figure rising to 0.5% from 0.4%.
    UK, US and Europe: There isn’t a huge amount of other economic releases, with US trade balance and consumer confidence figures likely to be the highlights of the economic calendar for traders. Earnings data from the likes of HP and Best Buy round off a day where the market is largely going to remain fixated on the US-Mexico deal, and whether it really can provide hope of a breakthrough in talks with Canada and China.
    South Africa: A strong close in US equity markets on Friday is seeing a follow through in US Index Futures and Asian Indices this morning. Relatively dovish commentary from Fed Chair, Jerome Powell (at the Jackson Hole Symposium), has seen the dollar weakening and commodity prices rising in the near term. BHP Billiton is up 1.1% in Australia which suggests initial gains for locally listed diversified resource counters. Tencent Holdings is up 1.4% in Asia, suggestive of a positive start for major holding company Naspers (which has a 23% weighting in the JSE Top40 Index). Today is relatively light in terms of scheduled economic data releases and UK markets are closed on account of a banking holiday, suggestive of low volume trade today.
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    3pm – US consumer confidence (August): expected to fall to 126.2 from 127.4. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    Bunzl posted a 3.9% rise in first-half profit, largely resulting from recent acquisitions. The group also announced its acquisition of a catering equipment supplier in Norway. Adjusted pre-tax profit rose to from £248.3 million to £257.9 million in the six months ended June 30, while revenues rose 5.5% to £4.34 billion.  Advtech Interim results showed  earnings per share to have declined by 10% from the prior year's comparative period. TI Fluid upgraded to overweight at JPMorgan
    Coats rated new buy at Citi
    Faurecia upgraded to buy at Kepler Cheuvreux
    Kinepolis upgraded to buy at Berenberg
    Petrofac downgraded to hold at Kepler Cheuvreux
    Continental downgraded to neutral at JPMorgan
    EON downgraded to hold at Jefferies
    u-blox downgraded to reduce at Kepler Cheuvreux
    IGTV featured video
    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. 
     
  4. NadelinaIG
    China trade war escalates as new tariffs kick in: U.S. economy set to slow from here on, damaged by trade war EM ASIA FX soften as dollar recovers after falling for six straight sessions Wall Street sets record for longest bull run in history; Key S&P 500 index passes landmark as it goes 3,453 days without major correction Brexit contingency plan papers released; Brexit could be good news for Britain's farmers Australian dollar drops as three government ministers quit Crude oil sees it's largest gains in two months on varying signs of ebbing supply Asian overnight:  Another indecisive session overnight has seen weakness in Hong Kong and Australian stocks counteract the already unimpressive gains seen in Japan and China. The Australian dollar came under pressure after three main cabinet members resigned to switch allegiance to Peter Dutton, who aims to become the next Liberal leader and ultimately the next Prime Minister. The dollar also strengthened overnight following an optimistic outlook from the Fed, with yesterday’s minutes pointing towards a rate hike at the next meeting despite concerns over trade tensions. Trade talks in China continue into their second day today, yet with neither side likely to cede much ground, it seems likely we will see a positive resolution. 
    UK, US and Europe:  A very busy economic calendar sees the day kick off with a host of eurozone PMI readings from the likes of the French, German, and eurozone services and manufacturing sectors. This does carry into the afternoon, with the US manufacturing and services PMI surveys due for release. Also keep an eye out for the eurozone minutes, alongside consumer confidence data, which will both bring expectations of heightened volatility for the euro.
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    8am – 9am – French, German, eurozone mfg & services PMI (August, flash): German mfg PMI to fall to 55.5 from 56.9, while eurozone mfg PMI to fall to 54.6 from 55.1. Markets to watch: eurozone indices, EUR crosses
    12.30pm – ECB meeting minutes: these could provide some support to a flagging euro if they reinforce the image of a bank moving towards tightening policy in the longer term. Markets to watch: eurozone indices, EUR crosses
    1.30pm – US initial jobless claims (w/e 18 August): claims expected to rise to 217K from 212K. Markets to watch: US indices, USD crosses
    2.45pm – US mfg & services PMI (August, flash): mfg PMI to fall to 55.2 from 55.3, while services PMI to fall to 54 from 56. Markets to watch: US indices, USD crosses
    3pm – US new home sales (July): forecast to rise 0.6% MoM from -5.3%. Markets to watch: US indices, USD crosses
    3pm – eurozone consumer confidence (August, flash): forecast to fall to -0.7 from -0.6. Markets to watch: eurozone indices, EUR crosses
     
    Corporate News, Upgrades and Downgrades
    CRH said that first-half profits rose 4.6% to €497 million, while sales were 1% higher at €11.9 billion. Performance was affected by weather disruption in Europe and North America, and currency headwinds. The dividend was raised by 2.1% to 19.6 cents per share.  Premier Oil reported pre-tax profit of $98.4 million for the first half, up from $40.7 a year earlier, while cash flow fell to $276.6 million from $282.7 million. Net debt was cut to $2.65 billion from $2.72 billion a year earlier.  OneSavings Bank has upgraded tis growth forecast thanks to a good start to 2018. Pre-tax profit in the first half rose 17% to £91.8 million, with the loan book up 11% to £8.1 billion. Growth is now expected to be in the ‘high teens’, from a previous ‘mid-teens’ forecast.   BNP Paribas upgraded to buy at Bankhaus Lampe
    Masmovil upgraded to overweight at Barclays
    Sunrise upgraded to overweight at Barclays
    Zooplus upgraded to hold at Kepler Cheuvreux
    Deutsche Euroshop cut to hold at Berenberg
    Terveystalo cut to underweight at Morgan Stanley
     
    IGTV featured video
    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. 
     
  5. NadelinaIG
    Three new crypto assets
    We are pleased to announce that you can now trade three new cryptocurrencies on our platform - EOS, Stellar and NEO. You should be able to see these on the CFD and spread betting leverage accounts under the 'Cryptocurrencies' header on the left hand side as well as on mobile. You can't trade these on a share dealing, ISA or smart portfolio account. 
    Key contributors to the recent launch were IG Community members who participated in a poll and picked which new crypto assets they were most interested in. The results can be seen on the right, notably Stellar, EOS and NEO taking the lead, and whilst other factors were involved in the decision making process, I hope this helps show the importance of customer feedback. 
     
    We have given a quick overview of EOS, Stellar and NEO below, but the Community moderation team just wanted to thank those on Community for continuing to share their feedback. Please feel free to help shape the future of IG by submitting your own thoughts and opinions - every feedback item is reviewed and where appropriate passed on to the correct developer team.
     
    Why trade EOS, Stellar and NEO with IG?
    New crypto assets can be traded throughout the week and over the weekend*. Go short as well as long on all crypto markets. Great liquidity with a reputable, regulated leverage provider you can trust where your funds are held in segregated bank accounts and protected by a variety of government schemes depending on your residency.  EOS, NEO, and Stellar have a high position in China’s latest cryptocurrency ranking list. You can now trade this months top five most globally discussed alt-coin crypto assets with IG (as well as the grandfather of all cryptocurrencies bitcoin, it's fork bitcoin cash, and two crypto specific crosses ether/bitcoin and bitcoin cash/bitcoin).   

     
    EOS
    Market cap (as of 21st Aug) - $4,400,000,000 USD
    Circulating supply (as of 21st Aug) - 906,245,118 EOS
    Total supply - 1,006,245,120 EOS
    EOS is a blockchain platform for the development of decentralised apps, similar to ethereum in function. EOS aims to combine the best features and promises of the various smart contract technologies (such as the security of Bitcoin and the computing support of ethereum) in a single simplified scalable platform. A key goal is to build a blockchain platform that can securely and easily scale to thousands of transactions per second. Recently Block.one announced that they are committed to investing over $1B into funds focused on the growth of the EOS in the blockchain economy.
    An interesting event in the Crypto-world is China’s blockchain ranking this month, which put EOS on top: The new ranking, created by two institutions funded by the Chinese government, is known for rating public blockchain networks based on their application and technology, and has chosen EOS as the current top performing blockchain network in the world, pushing back the previous leaders ethereum and bitcoin. Additionally, this month the ranking placed tokens and other major cryptocurrencies like NEO and Stellar ahead of the previously dominant cryptocurrencies.
     
    Stellar
    Market cap (as of 21st Aug) - $4,061,000,000 USD
    Circulating supply (as of 21st Aug) - 18,772,926,091 XLM
    Total supply - 104,224,393,646 XLM
    Stellar is open-source, distributed payments infrastructure - a platform, which aims to unite banks, payments systems, and users. In July, Stellar became a top performing crypto asset in its class with 40% gains. According to crypto analysts, Stellar is currently preparing for a wider adoption on top of its blockchain platform, described as “the best competitor to ethereum's platform aspirations” (SA, August 2018). It currently has several projects worth noting utilising its blockchain, including its flagship partner (and possible the reason for such significant gains in July), IBM. Additionally, it was the first blockchain to receive Sharia Certification.
     
    NEO
    Market cap (as of 21st Aug) - $1,168,000,000 USD
    Circulating supply (as of 21st Aug) - 65,000,000 NEO
    Total supply - 100,000,000 NEO
    NEO is a blockchain platform that facilitates the development of digital assets and smart contracts. As a cryptocurrency, it is designed to build a scalable network of decentralized applications. The base asset of the NEO blockchain is the non divisible NEO token which generates GAS tokens that can be used to pay for transaction fees generated by applications on the network.
    The main goal of NEO is to become a digital, decentralised and distributed platform for non-digital assets, through the use of “Smart Contracts.” This means that its goal is to become a digital alternative for asset transfers that are currently non-digital. An example, given by members of the NEO team, is paying rent using a smart contract, being automatically triggered once a month, instead of setting up a bank payment. Through a distributed network, NEO aims to create a "Smart Economy".
     
    Available now 
    All three of these new crypto assets are now available on your trading platform and the charts are in the process of being respectively backdated. Please note that EOS and Stellar are quoted in cents, whilst NEO is quoted in dollars. You can see more information and all contract details on the Help and Support portal. Please visit your respective portal, however UK clients can see NEO, Stellar and EOS contract details here. 
    *Markets close at 10pm on Friday night (UK time), then reopen on Saturday at 4am (UK time).
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