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CharlotteIG

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  1. CharlotteIG
    Will Synairgen shares keep soaring on new Covid-19 treatment?
    Synairgen shares are up 30% on Friday following positive trial data, with its new Covid-19 drug containing a protein that reduces the odds of developing severe symptoms and accelerates recovery.
    Synairgen shares soar 30% on new Covid-19 treatment The Southampton-based biotech company’s drug accelerates patients Covid-19 recovery Synairgen stock is up 2150% year-to-date. Shares in Synairgen are rallying sharply in today’s trade following positive trial data, with its new drug, known as SNG001, containing a protein that reduces the odds of developing severe symptoms of Covid-19.
    The small scale trial results were published in the peer-reviewed Lancet journal, showing positive results in hospitalised patients.
    Synairgen shares are up 30% to 130p at the time of publication, with the stock up 2150% year-to-date.
    Synairgen’s new drug could accelerate Covid-19 recovery
    The Southampton-based biotech company developed a naturally produced protein which helps the body fight viral infections. Synairgen, which was spun out of Southampton University said the drug ‘may have the potential as an inhaled drug to restore the lung's immune response and accelerate recovery from Covid-19’
    ‘The results confirm our belief that interferon beta, a widely known drug approved for use in its injectable form for other indications, may have the potential as an inhaled drug to restore the lung’s immune response and accelerate recovery from COVID-19,’ Professor Tom Wilkinson, Professor of Respiratory Medicine at the University of Southampton and Lead Author, said.
    ‘This pH neutral, inhaled interferon beta-1a formulation (SNG001) provides high, local concentrations of the immune protein which boosts lung defences rather than targeting specific viral mechanisms,’ he said.
    ‘This might carry additional advantages of treating COVID19 when it occurs alongside infection by another respiratory virus such as influenza or Respiratory Syncytial Virus that may well be encountered in the winter months,’ Wilkinson added.
    Synairgen: technical analysis
    Taking a look at the chart of Synairgen, the stock is down 50% from the summer peak, according to Victoria Scholar, presenter and market analyst at IG.
    ‘The stock was under pressure earlier this week on the back of Pfizer’s vaccine hopes,’ she said. ‘But today shares are bouncing back, with a gap higher combined with a buy signal from the RSI.’
    ‘Nonetheless, the stock still remains some way below its descending trendline that’s been in place since October,’ Scholar added. ‘Having broken back up above the 38.2% Fibonacci level, it is now on track to test the 50% fib level at 165.77.

    Aaran Fronda | Financial writer, London | 
  2. CharlotteIG
    Election special - weekly report
    by Monte Safieddine @Monte_IG

    We’ve been here before, polls that show one side enjoying a sizeable lead And while 2020 may have felt like more than a decade, the 2016 surprise is still relatively fresh in the minds of those wondering which party will control which of the three There have been plenty of polls done by countless organizations, but thus far most show a comfortable lead for Democratic candidate Joe Biden, and for the Democratic party to retain control of the House of Representatives by an even healthier majority Furthermore, the percentage drop in the number of undecided voters since 2016 combined with the surge in early voting (more than half of 2016 ’s total) has locked in votes
    ahead of time, giving candidates a smaller chance to sway what few undecided voters remain, and if polls are correct would make it harder for Republicans to claw back lost territory and close the gap.
    The Senate where Republicans currently enjoy a majority show a handful of the 35 seats up for grabs as too close to call, making it difficult to rule out a 50 50 scenario that’ll require the Vice President to break the tie, meaning under that scenario whichever party controls the White House will also control the Senate.

    With any major fundamental event (think US Non Farm Payrolls or a central bank announcement), sizeable moves are the norm Short term risk taking might be limited prior, plenty may opt to stand on the sidelines waiting out the unknowns and re enter once the dust has settled, and fund managers worried over risk parameters getting triggered may reposition accordingly. Those that have built up decent market beating returns in what has been a volatile 2020 may choose to avoid risking denting their records for the year with only two months to go, avoiding what may be a chaotic few days that hopefully won’t extend into longer than that Furthermore, market makers that under normal circumstances would provide liquidity to the market may
    choose to withdraw to avoid a trend move opposite and get stuck in an illiquid environment (contracts between market makers and the exchanges where the latter pay the former to provide the market with liquidity can include clauses for market makers to withdraw liquidity in the face of fundamental events, and the US elections would easily fall within that category).
    The net result? Levels where orders would normally be resting that would cause prices to face resistance are at far greater risk of breaking, and with little volume resting in the market at price levels would make it far easier to kick prices in one direction or another Daily, weekly, and monthly pivot points would be at risk Lots of noise, trendless volatile moves, and false signals getting triggered come as no surprise. Technicals and sentiment usually hold less relevance in these scenarios, though they have been included in this report with the technical overview ‘ owing to the likelihood that levels historically have been at far greater risk of breaking and triggering smaller stop losses, even if prices eventually reversed and offered a trend move in favor of its technical overview pre event Sentiment analysis may show periods where majority bias outperforms and scenarios where the minority reaps big rewards, but under major fundamental events the results are far less conclusive Should election results be sorted swiftly with a clean, peaceful transition, and plenty will re emerge to position in the financial markets, allowing for moves thereafter to ‘ more easily.
    The stage may be set for the potential for increased volatility, though that doesn’t always guarantee that conformist breakout strategies in the current environment will outperform indefinitely and across all asset classes Last time around in 2016 the conclusion shocked the markets with few expecting the results to veer from the polls, and this time around a victory for either camp wouldn’t come as a significant surprise even with the margins widened between the presidential candidates It would also mean that if markets have priced for a ‘Blue Wave’ victory, further momentum in that favor beyond what is already priced in may be met with resistance. 
    Monetary and Fiscal Policy The contrast between the two political parties isn’t just on what they’ll be spending on, but on the size of any fiscal stimulus package, with Democrats in Congress proposing higher numbers than that of the Republican White House, which in turn is at odds with the Republican Senate that has been pushing for a smaller amount That has meant market expectations of a Blue Wave where the Democratic party controls all three would result in the biggest fiscal stimulus packages A Red Wave would also introduce fiscal stimulus, though expected to be of a smaller size, while mixed control would make it difficult to get any further fiscal stimulus passed, especially if of a larger size On the monetary front, while Trump has made clear his dislike for Federal Reserve ( Chairman Powell, his rhetoric has changed as of late given recent central bank easing and promises A Biden win would likely result in less pressure on the Fed to reduce rates and introduce further easing, and highly unlikely he’d openly advocate for negative rates as the incumbent has But overall, we’re assuming this is a case where policymakers have created a situation they can control, giving them multiple options in dealing with it The coronavirus clearly is one of being forced upon them, narrowing options regardless of who’s at the helm.
    Taxes, Regulation, Defense A rise in taxes (on the wealthy and corporations), increased regulation, and a dent in defense spending are common themes for Democrats when compared to Republican policies, and that’s expected to remain the case when considering a Trump vs Biden win Increased taxes and regulation are an obvious dent to company earnings and growth, while long term growth prospects are usually improved with fiscal restraint As for defense spending, even if it drops for the US government under a blue win as well as for its allies if there’s less US (i e Trump) pressure on NATO countries to increase spending, it may not translate into a drop globally given the plethora of conflicts emerging and ongoing, and may increase as some governments get more desperate.
    Oil: The energy commodity has had a lot to contend with this year, the pandemic briefly sending its price into negative territory as transportation demand plummeted and
    lockdowns went into effect Its managed to recover partially since, but rising coronavirus cases forcing governments into increasing curbs and reinstituting lockdowns has tested it once more A fall in prices due to a shock from a plummet in demand or an oil price war (arranged or otherwise) has hit higher cost producers in the US more so than oil
    producing governments, the latter having to contend with budget deficits and obligations on a national level but usually enjoying far lower production costs and capable of
    weathering the storm in the short term In the event of an upside shock to price, both Democrats and Republicans tend to rush to bring it back within range fearing the economic consequences of higher energy prices for an economy still heavily reliant on the energy commodity In the event of a price crash, oil companies who are based in the Republican heartland would prefer a Trump win that would result in supporting the sector and aiding in sidestepping environmental concerns, as well as interfering as was the case with and Friends’ A Biden win on the other hand, even if it doesn’t result in the infamous ban on fracking claims, would remove subsidies, could result in more supply out of Iran, and be less likely to interfere in a downward price shock, especially if (as with the oil price war of 2014 16 it results in weakening and pressuring geopolitical rivals. 
    Oil Companies: Given their reliance on higher oil prices as a perquisite to posting profits and ensuring dividend continuity, the net result for oil companies would be a preference for a Trump win over a Blue Wave, especially if the latter impose curbs that would dent transportation demand further, pass legislation that would be stricter for oil and gas companies, and push for emissions curbs in the automotive sector that would hasten the shift to transportation via alternative energy
    Alternative Energy Big incentives await the sector with a Biden win, with the move towards alternative energy gaining pace, while mixed control may result in the status quo.
    Indices A contested result would be a bearish case for US indices, but if the results (and any potential transition) go smoothly, would take some uncertainty out of what has been an already uncertain atmosphere Republican policies involve lower taxes, less regulation, and the absence of a minimum wage hike that are likely to positively resonate with big business, and in turn the popular indices representing large US companies While the difference may result in short term noise for the stock market, there are more underlying factors to note Central bank easing has translated into inflationary tendencies for asset prices in the financial market with few alternatives available in the bond market and even less in the real economy, and that combined with the government’s perception of the stock market as a bellwether for the economy will continue to offer a floor on any major price drops.
    Tech: It isn’t looking promising under a sweep of either political party, with both sides taking aim at the tech behemoths whose market share will likely continue to grow if the coronavirus is here for the long term and economies are forced into more curbs and restrictions Increased fiscal stimulus from Democrats is expected to be a boon for consumer staples and discretionary purchases (not necessarily for companies who will have to deal with higher minimum wages, rise in taxes and increased distancing requirements), and any increase in curbs from a Blue Wave will only translate into increasing reliance on tech companies to deliver where brick and mortar won’t be able to For tech companies, bigger may not necessarily translate into better when it comes to being in the spotlight of the government Under mixed control the damage is expected to be limiting, while a sweep (red or blue) would make tech titans an easier target.
    Trade: It’s no longer a question of a China rising, but how soon it’ll surpass the US in the remaining fields where it lags At this stage, it’s a strategic move for the US to try and contain its growth and ensure the ‘strategic competitor’ doesn’t take the number one spot, with previous Democratic and Republican presidential candidates both working in an indirect way by aiding surrounding neighbors and coordinating with allies, only to simultaneously increase the reliance of the US economy on its supply chains. Both sides of the isle have gotten more confrontational in talk and action against China, but it began with Trump taking a far more direct and unconventional approach, an approach that is expected to subside with a Biden win. An absence of rising tariffs would aid the global trade environment, ease USD illiquidity, take global indices higher, and give emerging market currencies a boost. A Trump win (regardless of who takes the House or Senate) would translate into more confrontation between the two heavyweights, and a further undoing of economic interdependence, yet to translate into losses for US companies reliant on the country both as a manufacturing powerhouse and (for some) providing the
    largest consumer base
    Banks: Regulatory changes from a Blue Wave would be negative for bank stocks, as would any increase in taxes and/or programs from the Democratic party to address inequality. That would translate into bearish moves, even if expectations are for rates to rise sooner under the blue party Mixed control would prevent any significant
    legislation from being passed, and in turn likely keep the current situation unchanged.
    Automotive: The domestic auto industry being based in a usually blue state while foreign automakers opening plants in red states meant that automakers usually preferred a Democratic presence in Washington to come to the sector’s aid in the event of a downturn, but not necessarily offer much upside potential The reason? The ‘Big Three’ are already trying to forge alliances to tackle a battery powered future, thanks to funds from primarily SUV sales, meaning any big legislative push for curbing emissions from team blue would hurt that aspect Mixed control of the three is unlikely to result in significant changes, and may in fact offer less uncertainty to the sector.
    Gold: While a bigger stimulus package from the Democrats would aid growth prospects in the short term, the US market isn’t a traditional one for purchases of the precious metal. And yet, a massive increase in gold purchases this year has aided in taking its price to record highs. The source however, has primarily been on the ETF front, and as a hedge against purchases in equities given the current state of the bond market that isn’t properly covering expectations of a weakened currency thanks to central bank intervention. Any undoing of that trade however, and the gains witnessed as of late are at risk of being undone, especially if a speculative move in the mid term wouldn’t receive central bank or government aid the way the stock market has been accustomed to it. Low rates for longer periods of time certainly make it an attractive asset to hold onto, and
    when it comes to a win for Democrats in the elections a weaker greenback in the short term could take prices higher, with a hike in Fed rates being brought forward undoing any short term gains in the medium term.
    Silver: While gold prices suffered at the start of the pandemic during the ‘sell everything’ moment, it was silver that underperformed heavily and briefly took the gold/silver ratio
    to a record high in the 126 s. It’s dropped back into the 70 80 ranges since, and the story has generally been one of bigger percentage volatility, reliant on rising gold prices to outperform while underperforming when gold prices retreat (in other words, see gold).
    US Dollar: Bigger stimulus plans combined with ongoing central bank easing at low rates for longer usually translates into a weaker currency, and it’s likely a potentially more relaxed trade atmosphere and less pressure on companies to shift operations and funds back to the US would aid global USD illiquidity pressures, and put the greenback into further retreat against the majors, as well as many emerging market currencies. The story may differ for commodity currencies, especially for those with an energy underlying
    should oil prices suffer another downside shock on domestic curbs or even a lockdown. However, whatever losses the dollar may suffer in the short to mid term are likely to be eventually undone in the mid to long term, as increased use of the greenback will only increase reliance on it for debt servicing.
    Cryptocurrencies: No one (at least privately) embraces competition, especially at the level that involves central banks and money/debt creation No surprise then that there have been plenty from both sides of the isle against the introduction of ‘ cryptocurrencies like Facebook’s Libra that in its initial proposal would have posed a threat to a core government function Trump’s attitude thus far has been more hands off, with a Biden win likely to result in increased regulation PayPal’s embrace has been seen as a positive for
    the sphere, but with so many Bitcoin untouched in wallets, its reliance as of late has been more on its use as a store of value instead of previous expectations of its promise as a global medium of exchange Absent any regulation, a weaker greenback would in theory aid cryptocurrencies whose money supply increase is limited compared to central banks as fresh lockdowns emerge Regulatory action, a speculative move (easy given lack of liquidity on the crypto exchanges), or another sell everything moment would be needed to
    convince holds to exit en masse.
     
    November 2, 2020- Week ahead: As if the US elections weren’t enough of an item, we’ve got significant fundamental events on the economic calendar. Three central bank announcements with the Reserve Bank of Australia (RBA) expected to reduce its key rate from its current record low 0.25% to 0.1%, and where it could in crease bond purchases on long term maturing debt. Both Bank of England and the US Federal Reserve are on Thursday, the former potentially raising asset purchase s a midst another lockdown and extension in its wage program. As for the latter, its statement following the elections will be closely read with regards to commentary ab out current economic conditions amidst
    rising coronavirus cases and the economic outlook, with its Chairman Powell questioned thereafter. The central bank recently ann ounced that its Main Street Lending
    Program would issue loans as low as $100,000 and reduce the fees for those loans, the previous minimum amount being $250,000.
    And then there’s the data. Weekend PMIs out of China from CFLP showed ongoing expansion in both the manufacturing and services sectors, and we’ll get the final
    figures out of Markit for the Eurozone and UK, Caixin for China, both Markit and ISM for the US, and Ivey for Canada. Once that’ s out of the way, focus will shift to US
    employment, with ADP’s non farm estimate on Wednesday projected to show a 690K increase, the usual Thursday unemployment claims that as of late has been beating
    estimates but are still stubbornly high, and the BLS’s Non Farm Payrolls on Friday where the unemployment rate is expected to drop a couple notches. The ongoing surge
    in coronavirus cases, any updates on the vaccine front, and earnings are other items to note.
  3. CharlotteIG
    UK and European clocks go back one hour when Daylight Saving Time (DST) ends on Sunday 25th October. From this date until Sunday 1st November, the end of US DST, there will be a number of changes to our opening hours:
     
    •                 US and Canadian markets will open one hour earlier in UK time. For example, US and Canadian shares will be quoted between 1.30pm and 8pm
    •                 Leveraged trading on US shares (all sessions) will run from 8am to midnight Monday to Thursday, and from 8am to 9pm on Friday 30th October
    •                 Share dealing (non -leveraged) on US shares (all sessions) will run from 11am to 9pm Monday to Thursday, and from 11am to 9pm on Friday 30th October
    •                 All forex markets will open at 9pm on Sunday 27th October and close at 9pm on Friday 30th October
    •                 24-hour dealing on indices will open at 10pm on Sunday 27 October and close at 9pm on Friday 30th October
    •                 Expiring US markets will settle an hour earlier than usual
    •                 New York Cocoa, Sugar and Coffee, and London Sugar all close an hour earlier than normal
    •                 Weekend trading will open at the same time (8am Saturday), but will close one hour earlier (FX 8.40pm, Indices 9.40pm) on Sunday.
     
     
    All markets will close at 9pm on Friday 30th October (one hour earlier than the normal 10pm close).
    Overnight funding (tomnext) adjustments for FX pairs will apply to positions held through 9pm.
    From Sunday 1st November, the above will revert to their usual hours.
     
    Please also bear the following in mind:
    Asian markets, which do not observe DST, will operate one hour earlier in UK time. For example:
    HKEX shares will close at 8am,
    SGX shares will close at 9am.
     
    In-hours trading on Eurex futures (including the Germany 30) will be available one hour earlier at 12:10pm
     
    Digital 100s - Please pay particular attention to the expiry times of US and Asian digital 100s, as the proximity to expiry has a large bearing on the price quoted. You can check these in-platform via the 'information' section in the deal ticket.
  4. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 26th Oct 2020. 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
    NIFTY
    TECHM IM
    29/10/2020
    Special Div
    1500
    SPX
    AIV US
    03/11/2020
    Special Div
    820
    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.
  5. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 19th Oct 2020. 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
    XIN9I
    600028 CH
    23/10/2020
    Special Div
    7
    SHSN300
    600028 CH
    23/10/2020
    Special Div
    7
               
               
    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.
  6. CharlotteIG
    Chris Beauchamp’s insight
    US earnings season is upon us once again, with the banks taking their traditional place at the forefront of the procession. This will help to provide a different narrative to the ‘stimulus on/off’ discussion of the past week or more.
    As the UK heads back towards tighter restrictions, JD Wetherspoon’s full-year numbers will provide plenty of interest in how the pub operator views the outlook for its next 12 months. Key economic data include monthly UK employment figures, US and Chinese CPI and the German ZEW reading.
     


    Find this information every week here: https://www.ig.com/uk/week-ahead-ig?CHID=3&QPID=11253&tid=e2d0ba8fd7cf9373edd97d74e42ce104

  7. CharlotteIG
    US jobs report preview: will NFP follow ADP rise?
    The September US jobs report released on Friday provides traders with a fresh opportunity to scrutinise the economic recovery after months of improvements that have followed the first quarter (Q1) economic collapse.
    Coming at a time when we have seen a resurgence for the dollar, the jobs report will be released at 1.30pm on Friday 2 October.
    Tune in to IGTV live announcement and analysis this Friday at 1.25pm UK time on the IG platform.
    Will improved ADP helps lift sentiment
    The September Automatic Data Processing (ADP) payrolls figure released today has seen another month of improvement, with a figure of 749,000 representing the highest amount of job creation in three months.
    That rise can be specifically attributed to small and medium sized businesses, with hiring at large firms remaining largely steady. Unfortunately, markets are expecting the headline non-farm payrolls figure to move in the opposite direction, with a reading around 900,000 expected after last months 1.37 million figure seen last month.
    With the monthly jobs created moving lower, there is a fear that we could soon see that path of economic improvement take a negative turn. As things stand, that steady improvement seen over recent months remains on track, with the four-month decline in continuing claims pointing towards further reductions in the unemployment rate.
    Market forecasts point towards a reduction in the headline unemployment rate from 8.4% to 8.2%. However, one potential warning sign looks like it could come from the U6 unemployment rate, which also includes both workers who are no longer looking for employment, and part-time workers looking for a full-time job. With more comprehensive measure expected to rise to 15.4% from 14.2%, this month could see the first cracks appear in the recovery.
    Dollar index technical analysis
    Looking at the dollar index, we have seen the greenback drift lower following a bullish breakout last week. The wider downtrend remains intact, yet we have seen a clear bottoming out over the course of August and September.
    The rise through 93.64 brought about a bullish signal, with the weakness we have seen since Friday's peak providing a potential buying opportunity. As such, further upside looks likely before long, with a drop below 92.75 negating that bullish outlook. Until then, a bullish turn looks like for the dollar.

    Source: ProRealTime
    By Joshua Mahony
    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.
  8. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 28th Sep 2020. 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
    AS51
    VEA AU
    10/02/2020
    Special Div
    17.4
    OMX
    TEL2B SS
    01/10/2020
    Special Div
    275
    FBMKLCI
    SIME MK
    02/10/2020
    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.
     
  9. CharlotteIG
    US presidential election: what does it mean for markets?
    United States presidential election United States Donald Trump Joe Biden Brexit 2016 United Kingdom European Union membership referendum
    Election a key moment for markets
    The US presidential election is one of the most closely watched events in the calendar. Although it only occurs every four years, most of the preceding year is taken up with choosing candidates and deciding policy platforms, while the immediate aftermath is always a period of interest as pundits speculate about what the new (or not so new) occupant of the most important office in the world will do.
    This time around, the election takes place in a febrile atmosphere. US politics were already sharply divided at the beginning of 2020, as US President Donald Trump’s ‘Keep America Great’ approach contrasted with Joe Biden’s more conventional policy platform, as the former vice president campaigned in a vein similar to that of his predecessors. But the Covid-19 pandemic provided another, entirely unexpected, element to contend with.
    Global pandemic transforms the race
    The economic shock and market dislocation prompted by the pandemic upended expectations for the election. Donald Trump’s most powerful card, the economy, suddenly suffered a severe blow, and only quick Federal Reserve (Fed) and government fiscal stimulus helped to stave off disaster. While a recovery is arguably under way, there is still a long way to go, and more government support will be needed. Whoever wins the election will need to embark on more support programmes for workers and affected industries, in a bid to steer the US economy through to a safe harbour when a vaccine is introduced.
    From a relatively tight race earlier in the year, Joe Biden has managed to establish a noticeable lead over the incumbent, Donald Trump. Despite some recovery in his polling, Mr Trump continues to trail his opponent, with a bigger mountain to climb in terms of winning sufficient votes in the Electoral College. It is still not certain who will win, but Mr Biden appears to be doing better in key battleground states compared to Hilary Clinton in 2016.
    Will this be a re-run of 2016?
    The last presidential election was one of the most surprising in recent memory. Coming in a year that saw an oil price slump and then the Brexit referendum, the victory of Donald Trump over a Democrat opponent that had seemed a dead cert to win came as a shock to global markets.
    On the night of the result, markets saw substantial volatility, with Dow futures and the dollar index both dropping sharply in the wake of the news that Donald Trump was victorious. Markets and investors had been caught napping by the result, in a similar way to the Brexit referendum. But contrary to expectations, the election of Mr Trump did not provoke a new bear market in stocks. Indeed, the reverse was true. Investors piled back into US equities, sending them to record highs, a fact trumpeted at repeated intervals by the administration.
    This time around, investors are more prepared, at least psychologically, for volatility. Arguably, Mr Biden would represent a return to the Obama years, with a greater focus on social welfare and potentially higher taxes, in order to help pay for the recovery programmes that are badly needed. In this sense he may be considered the ‘main street’ candidate. Conversely, Mr Trump is still seen as the business choice, representing reduced regulation and tax cuts designed to spur the US economy forward.
    International outlook key
    A Biden win would likely see a more conciliatory approach towards America’s foreign partners and opponents. Mr Trump was keen to use American economic leverage to extract concessions from trading partners, regardless of how close these were to the US in strategic terms. Of course, there was the trade war with China, which rumbles on despite expectations of a deal, and a second Trump term would likely see the president push forward with a more combative approach with regard to trading partners like China, the European Union (EU), Canada and Mexico.
    By contrast, Mr Biden would likely seek accommodation, aiming to rebuild relationships in order to provide a more congenial outlook for a global economic recovery. Businesses and markets may ultimately prefer a Democratic administration that repairs the global free trade outlook and thus provides a boost for the US economy.
    What about Brexit?
    As the UK looks to exit its Brexit transition period at the end of the year, the occupant of 1600 Pennsylvania Avenue will be key. Trump is a fan of Brexit, a fact exploited by Boris Johnson and in some ways bemoaned by Theresa May. Meanwhile, Joe Biden has already signalled that the UK must look to preserve peace in Northern Ireland as a prerequisite for any US deal.
    While London might hope in some ways for a Trump win, the current president is not shy about strong-arming allies into deals favourable to the US. A trade deal could be more likely under a Republican administration, but if the Democrats do well in Congress a deal may struggle to make much headway.
    Market impact
    US elections always produce much heat, but little light, around the key question of ‘what markets will do’. In a sense, the person who occupies the Oval Office probably only has a marginal impact on overall market direction, a fact that the current incumbent would probably disagree with in his usual vehement fashion. We can be certain about one thing – a Republican win would mean more market tweets, while Mr Biden might be tempted to take a calmer course, keeping his views to himself.
    Much was made of the ‘Trump bounce’ in stocks following the election. Perhaps it contained a grain of truth. But overall what we saw was a US rally built on strong fundamentals, and inflows into key sectors that had been unpopular for the months preceding the election. Compared to a UK besieged by Brexit and a eurozone with sluggish growth, the US economy was going strongly, and investors could not resist the prospect of higher returns from this economy.
    This time around, perhaps, the picture is less clear. The US has, in some ways, fumbled its response to Covid-19, and the impending vote has essentially torpedoed any chance of a big new fiscal response to support the economy. But the UK, Europe and Asia are also suffering. The US has the potential to grow, and do so strongly, supported by an activist Fed and by the prospect of government stimulus regardless of who wins the election.
    Be prepared
    I round off with my usual comment – whatever happens, investors and traders need to be prepared. Have a plan in place, using stop losses and defined risk levels. If the lead up to the election, or the night itself, or the weeks afterwards, are volatile, then remember to either widen out stops and reduce position sizes, or step aside entirely to allow things to settle down.
    2020 has been a rollercoaster ride already. The prospect of a tightly contested election, one that may lead to an uncertain result that is fought out in the courts in a manner reminiscent of, but worse than, 2000, may make markets more volatile for longer. Make sure you have a plan, and that you follow it. This is going to be an exciting time, but a volatile one.
    We also have a Podcast with our own Jeremy Naylor along with Michael Gayed, The Lead-Lag Report, and Jonathan Wood, Control Risks. Listen to the podcast my clicking here.
    How to trade the US Presidential election
     Chris Beauchamp | Chief Market Analyst 
    Photo by Bloomberg. 
  10. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 14th Sep 2020. 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
    AS51
    AMP AU
    18/09/2020
    Special Div
    14.2857
               
               
    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.
     
  11. CharlotteIG
    Friday’s US jobs report could bring a bearish reversal for the dollar despite the ongoing bid to claw back jobs lost in March and April.
    The August US jobs report released on Friday provides traders with another opportunity to take a close look at the ongoing economic recovery following the economic collapse that took hold in the first half (H1) of 2020. Capping off the week, the jobs report will be released at 1.30pm (UK time) on Friday 4 September.
    ADP weakness could spell trouble for headline NFP number
    The US jobs outlook has been showing signs of gradual improvements over the course of the past few months, with the height of the crisis seemingly having occurred in April. However, we are reaching a period where that recovery appears to be slowing somewhat, with the payrolls figure decreasing over the past two months. The automatic data processing (ADP) payrolls figure highlights the potential for further disappointment on Friday, with another underwhelming figure this week (428K) highlighting the lack of follow through on this recovery.
    Looking at the jobless claims data, we have seen the initial filings decline once again, following a tentative push higher in mid-August. However, while we are moving in the right direction once again, this is a sign we are seeing some bumps in the road as the US economy attempts to recover from the 22.2 million jobs lost in March and April. So far less than half of those losses (42%) have been regained.
    Markets are expecting to see a decrease in the number of jobs created, with a figure of 1.49 million well below the 1.76 million seen in July. However, it is worthwhile noting that the rate of improvement was always likely to slow after initial gains made as the economy first turned a corner. Nevertheless, the economic picture is still improving, as highlighted by the unemployment rate which is expected to break below the 10% threshold for the first time since April. Despite last months decline, it is important to follow the participation rate, with a recovery in that rate telling a story of how people are feeling confident enough to return to the workplace. Finally, with average hourly earnings expected to fall from 4.8% to 4.6%, we are seeing a signal that those lower paid jobs (often in the services sector) are returning after the initial lockdown shock.
    Dollar index technical analysis
    Looking at the dollar index, we have seen huge declines for the greenback over the course of this crisis. The past month has seen a more balanced market, although we have maintained the bearish theme. With the price on the rise over the course of September thus far, there is a chance we could see another move lower given the confluence of trendline and 76.4% Fibonacci resistance up ahead. With that in mind, it will be worth watching for a sign of a bearish reversal from here, with a break through 93.50 ultimately required to bring about a fresh bullish outlook.

     
    By Joshua Mahony
  12. CharlotteIG
    During the UK bank holiday weekend and over Labor Day weekend in the US and Canada, we’ll be making some changes to our usual opening hours. These adjustments will take place on Monday 31 August (UK bank holiday), Monday 7 and Tuesday 8 September (US and Canada Labor Day weekend), after which we’ll go back to normal trading hours.
    Monday 31 August
    UK equities, index futures, soft commodities and interest rates will be closed

    We’ll be making an out-of-hours price on the FTSE 100 until futures re-open at 1am on Tuesday

    Brent Crude and London Gas Oil will be open as normal

    New York Cocoa, Coffee and Sugar contracts will open at 12.30pm
    Monday 7 September
    US index futures close early at 6pm. We’ll make out-of-hours prices on Wall Street, US 500, Russell 2000, US Fang Index and US Tech until they re-open at 11pm

    US and Canadian equities, and soft commodities, will be closed

    The VIX will close early at 4.30pm

    London Sugar closes early at 5pm

    US rates, Euribor and the Dollar Index close early at 6pm

    US metals and energies, including Nymex Crude, Gold and Silver close early at 6pm

    Brent Crude and London Gas Oil close early at 6.30pm
    Tuesday 8 September
    US grain futures open at 1am

    Lumber futures open at 3pm, livestock at 2.30pm

    All other markets open as normal
    All times listed here are UK time. This information is accurate to the best of our knowledge, but it is possible that these hours could change.
  13. CharlotteIG
    Apple and Tesla Stock Split
    Apple and Tesla have both announced they will carry out stock splits on Monday 31 August 2020 making it easier and cheaper for retail clients to trade.
    Apple is splitting its shares four-for-one. This means there will be four times as many shares circulating, at a quarter of their previous value
    Tesla is splitting its shares five-for-one. This means there will be five times as many shares circulating, at a fifth of their previous value
    Commission-free investing
    To help you benefit from this stock split, we’re offering active investors the opportunity to buy and sell US shares with zero commission to pay.*
    How will my existing positions be affected?
    If you hold a position in either company at close of business on 28 August, you’ll be affected by the stock split. We’ll make the necessary changes to your open positions and holdings before the markets open on 31 August. You won’t need to do anything.

    Plus, if you have a working order to open at close of business on 28 August, we’ll cancel it. You’ll be able to reopen it manually when the markets open again.
     
    If you have any questions please comment below or reach out to our helpline. 
    All the best 
     
    Place at least three trades on your share dealing account in the previous month to qualify for our best commission rates.
  14. CharlotteIG
    We are honoured to be nominated for The Good Money Guide Awards, which aim to champion financial services firms that excel in innovation, product, and customer service. Voting helps others make smart decisions about who to invest with and provide valuable feedback to improve online investing, trading, and currency transfer providers.
     
    In 2019, IG won Best Forex Broker and Best Overall Broker and we would love your help again in 2020.
     
    Vote for IG here: https://goodmoneyguide.com/awards/trading/
     
    Get your votes in by Friday. 
     
    As well as this, if you think we're missing anything for your trading needs please let us know here: 
     
    Thank you so much for trading with us. 
  15. CharlotteIG
    US Independence Day opening hours 2020

    There will be some changes to our normal opening hours over the US Independence Day period – between Wednesday 1 and Monday 6 July. Check the table below, and find out how the changes could impact your trading.
    Wednesday 1 July
    Canadian shares closed

    The Cannabis Index closed
    Thursday 2 July
    Lumber closes early at 6.05pm

    CBOT Grains close early at 6.05pm

    Livestock futures close early at 6.15pm
    Friday 3 July
    US equities and soft commodities closed

    US index futures close early at 6pm. We’ll make out-of-hours prices on Wall St, US 500, US Russell 2000 and US Tech 100 between 6pm and 9pm. 24 Hour indices close at 9pm

    US interest rates and the dollar index close early at 6pm

    The VIX closes early at 4.30pm

    US Crude, Gold and Silver close early at 6pm. Brent Crude and London Gas Oil close early at 6.30pm

    London Sugar closes at 5pm
    Monday 6 July
    Livestock futures opens at 2.30pm

    Lumber opens at 3pm

    The hours listed here are all in UK time. This information is accurate to the best of our knowledge, but it’s possible that these hours could change. We’ll return to normal trading hours after this period.
     
  16. CharlotteIG

    The week ahead

    By CharlotteIG,

    Chris Beauchamp’s insight
    A shortened week for the US due to the Independence Day holiday sees non-farm payrolls published a day early coinciding with the trade balance and weekly jobless claims figures.
    Other key events of note include PMIs from China and first quarter figures from Sainsbury’s.
     
    Economic reports

     
    Company announcements

     
    Dividends
    Upcoming
    FTSE 100: Coca-Cola HBC, Homeserve, National Grid
    FTSE 250: Murray Int’l, ICG, Airtel, Workspace, Primary Health Properties
    Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days.
     
    To find the full index dividend adjustments for this week please go to:  
     
     
     
  17. CharlotteIG
    Improve trading performance with our new tool
    Discover our new trade analytics tool, designed to help you evaluate and improve your trading performance. Accessed directly in the platform, it enables you to:
    ·        Gain deeper insight into your winning and losing trades
    ·        Identify and eliminate expensive trading mistakes
    ·        See your total returns, including all fees and adjustments
    ·        Monitor how much you pay in costs and charges
    We want you to keep building on your trading successes. To do that, you need data that lets you see exactly what worked well, and what didn’t. That’s why we’ll soon be adding extra features to make your trades even more transparent, as we continue to enhance the tool.
     
    Where can I find the tool?
    The new feature can be found in the  ‘live accounts’ tab in My IG and select ‘trade analytics’ on the left-hand menu.

     
     
    Where can I discuss this tool in the community
    We did test this tool with some traders late last year meaning some clients would have seen the tool before others. If you want to chat with other traders about this feature, click on the forum below: 
     
     
  18. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8th June 2020. 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.

     
    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.
  19. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 1st June 2020. 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: No special dividends 
         
    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.
     
  20. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 25th May 2020. 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:

         
    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.
     
     
  21. CharlotteIG
    Memorial Day & UK Late May Bank Holiday
    There will be some changes to our normal opening hours over the UK spring bank holiday and US Memorial Day period. Check the table below, and find out how the changes could impact your trading.
    Monday 25 May
    UK equities, UK index futures, interest rate and commodity markets (except Brent Crude & Gas Oil) are closed. We’ll make an out-of-hours price on the FTSE 100. Brent Crude and Gas Oil futures close early at 6.30pm. US index futures closes early at 6pm. We’ll make an out-of-hours price on Wall Street, US 500, US Russell 2000, FANG Index and US Tech 100 from 6pm until the futures reopen at 11pm. US equities and soft commodities are closed. US energies, interest rates and metals close early at 6pm. The VIX closes early at 4.30pm.  
    Tuesday 26 May
    Livestock opens at 2.30pm and lumber at 3pm. All times listed here are UK time. These hours are accurate to the best of our knowledge, but it’s possible that they could change.
  22. CharlotteIG
    Dividend Adjustments 18 May - 25 May
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 18th May 2020. 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:
          
    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.
  23. CharlotteIG
    May bank holiday trading hours
    There will be some changes to our normal opening hours over the public holidays in May. Check the table below to see how the changes could impact your trading.

     
    We have tried to make this information as accurate as possible, but it is intended for guidance only and is subject to change.
     
  24. CharlotteIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 27th April 2020. 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.
     

     
    Special Dividends: No special dividend
             
     
    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.
     
  25. CharlotteIG
    Easter Trading Hours 
    We wanted to let you know about some changes to our trading hours over the upcoming Easter period (all in UK time): 
    Thursday 9 April Most 24-hour indices close at 10pm.*   Friday 10 April All European and US markets closed. FX closes at 10pm.  Saturday 11 April Weekend indices and cryptocurrencies open as normal.   Sunday 12 April Weekend indices and cryptos open as normal. FX opens at 9pm. US and 24-hour indices quoted from 11pm.  Monday 13 April European equities closed. European 24-hour indices quoted out of hours. US markets open.  Tuesday 14 April European markets reopen.   
    *Japan 225, Singapore Blue Chip and China A50 will re-open on Friday 10 April.  

    For more information on our popular markets' trading hours over the coming holiday, see our full list of Easter trading hours click here.
     

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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. Professional clients can lose more than they deposit. All trading involves risk.

The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.

CFD accounts provided by IG Markets Ltd, spread betting provided by IG Index Ltd and share dealing and stocks and shares ISA accounts provided by IG Trading and Investments Ltd. IG is a trading name of IG Markets Ltd (a company registered in England and Wales under number 04008957), IG Index Ltd (a company registered in England and Wales under number 01190902) and IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Index Ltd (Register number 114059) and IG Trading and Investments Ltd (Register number 944492) are authorised and regulated by the Financial Conduct Authority.

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