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JamesIG

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  1. JamesIG
    Asian overnight: A mixed session in overnight markets came after the White House pulled plans to restrict Chinese acquisition of US technology, helping ease trade war fears that continue to dominate market sentiment. Interestingly, we still saw Chinese stocks fall, with the Shenzhen and Shanghai composite indices trading within the red. Once again, we saw the Australian ASX 200 gain ground amid a resurgence for crude prices. The Yen was largely flat over the session, with a weak retail sales reading (0.6% from 1.5%) offset by demand for the haven currency. Meanwhile, the RBNZ decided to keep rates unchanged as expected, with no shift in rates expected for some time yet.

    UK, US and Europe: The focus for the European session will be the latest EU summit, where Brexit is likely to remain one of the key topics of discussion, alongside immigration issues which are a thorn in the side of Angela Merkel. The US session sees the final US GDP reading released alongside unemployment claims. However, for the most part markets are likely to instead look to Donald Trump and China for a lead on market bias.
    South Africa: We are seeing a firming US dollar and US Treasury Yields trading while emerging market currencies and commodities (excluding oil) under pressure once again. In turn we are expecting a lower open on the Jse Top 40 Index this morning. Tencent HOldings is 0.3% lower on the Hang Seng, suggestive of a softer start for major holding company Naspers. BHP Billiton on the other hand has extended short term gains which is expectant of a positive start for its local listing in South Africa. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    10am – eurozone business confidence (June): forecast to fall to 1.2 from 1.5. Market to watch: EUR crosses
    1pm – German CPI (June, preliminary): expected to fall to 1.9% from 2.2% YoY. Market to watch: EUR crosses
    1.30pm – US GDP (Q1, final), initial jobless claims (w/e 23 June): growth expected to be 1.2% YoY and 0.1% QoQ. Jobless claims to rise to 219K from 218K. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    JD Sports said that it continued to be confident about the outlook for the current financial year. Further expansion, with emphasis on new international stores, suggest the group is on track to meet full-year expectations.  
    Greene King reported an 11.2% fall in adjusted pre-tax profit for the full year, to £243 million, in line with forecasts.  
    BP is to acquire Chargemaster, the UK’s largest charging network for electric cars. It operates more than 6,500 charging points across the UK.  
    Tullow Oil said that it continued to perform well in 2018, with first-half production averaging 87,400 barrels per day, in line with forecasts. 
    Wilson Bayly Holme - Ovcon Ltd has said that Lower activity levels persist within local (Africa) building markets, particularly in Gauteng. Performance from the Byrne Group in London was in line with expectations over the second six months.Construction and materials saw strong competition and aggressive pricing persisted during the second half of the year which combined with an increase in non-payment by contractors due to the challenging environment.
    BP upgraded to buy at Kepler Cheuvreux
    Infineon upgraded to buy at DZ Bank
    KAZ Minerals upgraded to outperform at BMO
    OMV upgraded to hold at Kepler Cheuvreux
    Suez downgraded to hold at Berenberg
    Summit Therapeutics cut to hold at Panmure Gordon & Co
    IGTV - promoted video
    Please note: This information has been prpared 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. JamesIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 03 Sep 2018. 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 Divs are highlighted in orange.
    Special dividends 
    Index Bloomberg Code Effective Date Dividend Amount UKX ADM LN 06/09/2018 19.2 AS51 WHC AU 04/09/2018 13.0 AS51 TME AU 06/09/2018 22.0 AS51 ABC AU 07/09/2018 4.0 RTY PBIP US 06/09/2018 35.0  
    How do dividend adjustments work? 
    As you know, constituent stocks of an index will periodically pay dividends to shareholders. When they do, the overall value of the index is effected, causing it to drop by a certain amount. Each week, we receive the forecast for the number of points any index is due to drop by, and we publish this for you. As dividends are scheduled, public events, it is important to remember that leveraged index traders can neither profit nor lose from such price movements.
      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.
  3. JamesIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 20 Aug 2018. 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 Divs are highlighted in orange 
    How do dividend adjustments work? 
    As you know, constituent stocks of an index will periodically pay dividends to shareholders. When they do, the overall value of the index is effected, causing it to drop by a certain amount. Each week, we receive the forecast for the number of points any index is due to drop by, and we publish this for you. As dividends are scheduled, public events, it is important to remember that leveraged index traders can neither profit nor lose from such price movements.
      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.
  4. JamesIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 27 Aug 2018. 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 Divs are highlighted in orange.
    How do dividend adjustments work? 
    As you know, constituent stocks of an index will periodically pay dividends to shareholders. When they do, the overall value of the index is effected, causing it to drop by a certain amount. Each week, we receive the forecast for the number of points any index is due to drop by, and we publish this for you. As dividends are scheduled, public events, it is important to remember that leveraged index traders can neither profit nor lose from such price movements.
    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. JamesIG
    Yesterday the US Federal Reserve raises interest rates for the 3rd time this year. Asian stocks post negative sessions following the Fed announcement being led by the technology and energy sectors. Major currency pairs hold steady whilst the USD basket, despite initial volatility, traded largely flat. Minor gains have been made this morning putting the dollar about a quarter of a percent up. Oil continues to climb as investors continue to be cautiously optimistic that the Iranian sanction void can’t be easily filled. Upbeat comments by Mario Draghi on rising pay and inflation expectations helps boost the euro. Gold continues to trade in a tight range. This is a perfect time for traders to start following the precious metal as volatile movements are likely to follow as traders jump on a break out. German CPI data for September and US GDP Q2 / August Trade Balance figures are the ones to look out for today. Asian overnight: The US Federal Reserve increased the benchmark lending rate by 0.25% last night (as was expected). The central bank has suggested that another rate hike in 2018 may be on the cards, as the US economy shows signs of further strength. A bearish session overnight has seen losses across the board, with Japanese stocks suffering the most. Yesterday’s expected rate rise came alongside a rise in expectations for a December hike, sparking dollar strength. With all the talk of the ‘neutral rate’, it is clear we are not quite there yet. We also saw the RBNZ rate decision, where the New Zealand central bank decided to retain the current rate of 1.75%.
    UK, US and Europe: Looking ahead, a somewhat quiet European session drives the focus straight back onto the US, with core durable goods, trade balance, and the Final GDP figure all released at once. We also have a series of appearances from central bankers, with Draghi, Powell, and Poloz all appearing throughout the afternoon and evening.
    South Africa: US Index Futures and Asian markets are trading flat to marginally lower this morning suggestive of a similar start for our local bourse (The Jse AllShare Index). The rand remains firm at around R14.15/$. Tencent Holdings is down 1.9% in Asia suggestive of a weaker start for major holding company Naspers. BHP Billiton is 0.1% lower in Australia, suggestive of a flat to slightly lower start for local resource counters. 
    Commodity prices are trading slightly firmer after marginal losses yesterday. When it comes to spot gold the percentage of traders net-long is now its highest since Aug 09 when it traded near 1211.76. Paul Robinson of DFX noted that “If the monthly high (1212) or low (1187) [of golds range bound movement] aren’t broken by the close on Friday, this month’s range will rank as the smallest in over 22 years. That almost certainly won’t last another month.” 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    10am – eurozone business confidence (September): forecast to drop to 1.15 from 1.22. . Market to watch: EUR crosses
    1pm – German CPI (September, preliminary): forecast to fall to 1.9% YoY from 2%. Market to watch: EUR crosses
    1.30pm – US GDP (Q2, final reading), durable goods order (August), Personal consumption expenditure prices (Q2, final): GDP to rise 4.2% QoQ, durable goods orders to rise 1.7% from -1.7% MoM, and increase 0.5% from 0.2% MoM excluding transportation orders. PCE prices to rise 2.6% QoQ from 2.5%, and core PCE prices to increase by 2% from 2.2% MoM. Markets to watch: US indices, USD crosses
    3pm – US pending home sales (August): forecast to fall 1.9% YoY from a 2.3% drop in July. Market to watch: USD crosses
    Corporate News, Upgrades and Downgrades
    Saga reported a 4% fall in first-half profits, to £107 million, although it said its retail broking policy count was back to levels seen in the first half of 2017. Expenses fell to £120 million from £126 million a year earlier.  TUI said that trading was in line with expectations despite the hot summer, and it maintained its guidance for underlying earnings to rise 10% this year. Trading for the future season was in line with forecasts at this early stage.  Entertainment One said it remains on track to hit forecasts after its family and brands segment performed well in the first half.   Adcorp Holdings released a trading statement, guiding that Total basic earnings per share of between 82 cents and 100 cents is expected, which compares to a total basic loss per share of 120.7 cents in the prior years comparative period (ending 30 August 2017). Wood Upgraded to Hold at Jefferies
    RWE Upgraded to Buy at DZ Bank
    Investec upgrade Anglo Platinum with a target price of 48000c
    BMW Downgraded to Hold at SocGen
    DEFAMA Downgraded to Accumulate at SRC Research
    Investec downgrade Pick n Pay to sell with a target price of 6900c
    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. 
  6. JamesIG
    US equity markets traded firmer overnight whilst Asian markets, for the most part, trade lower this morning Fed rate hike and FOMC meeting later today seems priced in US tariffs on Chinese goods reiterated by Washington Bitcoin falls to a 2 and a half month low on regulatory concerns  PwC facing a £10m fine over their poor BHS audit Tesla cuts 9% of staff with a refocused goal of profitability UK, US and Europe: A mixed affair in Asia saw gains in Japan overshadowed by losses across China, Hong Kong, and Australia. The boost provided by yesterday’s Trump-Kim summit seems to have been short-lived, with markets now turning their attention to the central banks and the continued trade tariff chat. First up it is the Fed, with the ECB and BoJ following in the final two days of the week. The dollar has continued to firm ahead of this evenings FOMC meeting and rates announcement and in turn, commodity prices continue to find short term pressure. Trade friction conitunes between American and China after Washington stated it is planning to release a list of $50bn worth of Chinese imports subject to a 25% tariff.
    In Europe there is likely to be a significant degree of interest around the UK CPI figure, with headline inflation expected to remain steady despite the wider trend of falling CPI over the first six-months of the year. Also keep an eye out for the employment change and industrial production figures from the eurozone. In the US, crude inventories gives way to the latest Fed rate decision, where Powell is expected to preside over yet another hike. Crucially, we also see a batch of economic forecasts to accompany that decision, with markets largely looking towards the dot plot to see if there is any shift towards expecting 4 instead of 3 hikes in 2018.
    South Africa: The rand has weakened significantly as a result of a strengthening dollar. While our local bourse is expected to trade more or less flat leading into the US data tonight, locally listed banking and retail counters are expected to see early pressure on the back of the currency move. BHP Billiton is trading 1.3% lower this morning suggestive of a softer start for diversified resource counters. Tencent is trading more or less flat on the Hang Seng suggestive of a similar start for locally listed Naspers. 
    Economic Calendar (times in BST)


    Source: Daily FX Economic Calendar
    Corporate News
    Mulberry posted a fall in annual profit and said conditions had worsened in the early part of the new financial year. Pre-tax profit fell 8% to £7.5m, but revenue rose 1% to £169.7m. 
     
    Please note: 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.
     
  7. JamesIG
    Asian equity markets have crept slightly higher overnight following on from a firm Wall Street finish yesterday. Apple gains 4% on good results yesterday as it races with Amazon to be the world's first trillion dollar company. Turkey sharply increased their inflation forecast yesterday to 13.4% just a week after keeping interest rates on hold. Bitcoin pulls back to a one week low, however still ends the month about 20% higher MoM. Oil has pulled back after industry data showed US stockpiles rose unexpectedly.  Tesla are set to release their Q2 results about one month after announcing it met its most recent target of building 5,000 Model 3's /week. The U.S. Federal Reserve's Federal Open Market Committee (FOMC) announces its decision on interest rate at 19.00 BST. Asian overnight: Japanese markets were the one outlier overnight, as the promise of continued loose monetary policy from the BoJ earlier in the week continues to have a toll on the yen and Japanese stocks. Uncertainty continues to rein amid a week of hugely significant economic and corporate releases. Oil prices have been falling back amid speculation that sanctions on Iranian exports could be avoided. On the data front, New Zealand posted weaker jobs data, with a slight fall in the employment change figure (0.5% from 0.6%) accompanied by a slight rise in unemployment (4.5% from 4.4%).
    UK, US and Europe: US Index futures trade firmer this morning while Asian markets trade mixed. The US dollar has firmed after better than expected consumer confidence data was released yesterday afternoon. Looking ahead, the beginning of a new month brings the usual trio of UK PMI readings, with the manufacturing figure kicking things off today. There are a host of eurozone PMI surveys, but for the most part they are revisions rather than the preliminary reading in the UK.
    That PMI theme will carry into the US session, with the Canadian and US ISM manufacturing PMI surveys released later on. We also see the first of the major data points from the US, with the ADP payrolls figure ahead of this evening’s FOMC meeting. Crude markets will also expect volatility, with the release of the US crude inventories data earlier on in the afternoon. On the corporate front, all eyes will be on Tesla as Elon Musk hopes to prove the firm can be profitable going forward.
    South Africa:  The rand while weaker against the strengthening US dollar, has underperformed its emerging market currency peers following news that ruling party, the ANC had resolved to change the South African constitution in lieu of land redistribution without compensation. Rand hedge industrial counters are expected to outperform on the Jse this morning. While a stronger dollar has weighed on commodity prices, suggestions that China US trade talks will resume have provided some reprieve.  BHP Billiton is up 0.63% in Australia and Tencent Holdings trades 0.5% higher in Asia, suggestive of a positive start for local resource counters and Naspers. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    Direct Line saw a decline in operating profit (-1.5%) and pre-tax profit (-13.9%) in H1, driven predominantly by higher weather-related claims. Normalised for weather, operating profit was slightly higher compared with H1 2017. Interim dividend of 7p established in line with business growth.  BAE Systems saw a fall in sales (-3%), underlying EBITDA (-6%), and underlying EPS (-2%) for H1 2018, as the firm pushed through a ‘transition earnings year’. Despite this fall in metrics across the firm, they have raised dividends to 9p (from 8.8p) as they look forward to a strong H2. Significant wins on the Australian SEA 5000 and US Amphibious Combat Vehicle programmes, coupled with the launch of the UK Combat Air Strategy, are expected to provide strong momentum going forward. Lloyds Banking Group saw a 23% jump in pre-tax profit to £3.1 billion for the first half of 2018, beating market expectations, while also raising their full-year guidance. This is despite another £460 million worth of PPI claims, taking the total cost of the scandal to £19.2 billion.  Next saw a 4.5% rise in full price sales for the first half of 2018, with online sales growth (+15.5%) far outstripping instore activity (-5.3%). The extended period of sunshine in the UK has helped drive sales of summer products, yet with the possibility that these sales have simply been pulled forward from August, sales and profits guidance remains the same for the year.  ArcelorMittal South Africa Interim results showed Ebitda improved by R2 121 million from a loss of R534 million to a profit of R1 587 million. Standard Chartered upgraded to hold at HSBC
    BHP upgraded to reduce at AlphaValue
    EDF upgraded to equal-weight at Morgan Stanley
    Peugeot upgraded to buy at Citi
    Macquarie upgrades AECI to outperform with a target price of 12800c
    Renaissance Capital upgrade  African Rainbow Mineralsto buy with a target price of 15000c
    Hammerson downgraded to underperform at Jefferies
    Pearson downgraded to neutral at Citi
    Rightmove downgraded to sell at Berenberg
    Worldline downgraded to hold at HSBC
    Featured Video
    Please note: 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. JamesIG
    Solid US earnings yesterday support the Asian market and China sees a rebound. GBP has slipped to its lowest level in 11 months on Brexit ‘no deal’ fears. The British heatwave and World Cup has boosted discretionary consumer spending in July according to Barclaycard. Oil gains as US renews sanctions against Iran. Gold gains slightly as lower price levels and the key level of $1200 support seen historically induce buying.  
    Asian overnight: Asian markets were largely in the green overnight, coming off the back of a US session which saw the Dow within touching distance of record highs. Interestingly, Chinese stocks were the main outperformer, with fears over their trade war with the US dissipating for now. The buying is however supported by below average volumes today questioning the sustainability thereof. The one outlier came from Australia, with the ASX 200 in the red despite the RBA deciding to retain their historically low monetary policy stance. Elsewhere, crude prices rose, with the imposition of fresh sanctions on Iran raising rumours that they would seek to close the Strait of Hormuz in retaliation. 
    UK, US and Europe: Looking ahead, there are few events of note worth watching out for, with much of the eurozone data already released from Germany earlier this morning. Coming off the back of yesterday’s weak German factory orders number, this morning has seen a greater deterioration in German Industrial production and trade surplus than expected, in a clear response to the breakdown of trade with the US. Elsewhere, look out for the UK Halifax House Price Index (HPI) and Canadian Ivey PMI releases as the only events of interest. The corporate calendar is a little more interesting, with Walt Disney and Snap earnings due out later today.
    South Africa:  The dollar has given up some of it recent strength this morning, adding a slight rebound in brent and precious metals as well as emerging market currencies, while base metals trade mixed on the day.  BHP Billiton is trading 1.6% lower in Australia suggestive of a softer start for local diversified resource counters. Tencent Holdings is trading 0.25% higher in Asia, suggestive of a marginally positive start for major holding company Naspers. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    Standard Life Aberdeen saw a 37% drop in first-half profit, to £185 million, while adjusted pre-tax profit was down 8.3% to £478 million. The firm continued to see outflows, but it still plans to push on with cost saving measures. The dividend was raised 4.3% to 7.3p. InterContinental Hotels reported an 8% rise in first-half underlying operating profit, to $398 million, while underlying revenue for the period rose 4% to $875 million. 28 hotels were opened in the year, with a record 7000 new rooms added. Rotorksaid that first-half pre-tax profit rose 12% to £54.7 million, while revenue was up 10.4% to £331 million. Management expectations for the year remain unchanged. Hargreaves Lansdown reported a 10% rise in pre-tax profit to £292.4 million, for the year, while revenue was up 16% to £447.5 million. A special dividend of 7.8p per share will be paid, taking the overall dividend to 40p, up nearly 40% over the year. Nedbank Ltd Headline earnings increased 27,0% to R6 696m, boosted by associate income from ETI's returning to profitability, while our managed operations delivered positive, but slower, earnings growth from a high base. This translated into an increase in diluted headline earnings per share and headline earnings per share of 26,3% to 1 361 cents and 1 387 cents respectively, in line with the 23% to 28% range set out in the trading statement released on 26 July 2018.  CNH Industrial upgraded to add at AlphaValue
    Ferrexpo upgraded to overweight at JPMorgan
    Prosafe upgraded to buy at Fearnley
    William Hill upgraded to neutral at Goldman
    Goldman Sachs maintain neutral rating on Mondi (London) with a target price of 2200p
    Ocado downgraded to underweight at Barclays
    Siemens Healthineers downgraded to hold at HSBC
    Ultra Electronics cut to hold at Kepler Cheuvreux
    Featured Video
    Please note: 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. JamesIG
    Asian shares down. China sees GDP growth data for Q2 soften which fuels fears as trade war row concerns build. Trump and Putin will sit down today for their first ever summit. Remarks from the pair could boost defence stocks. May's Brexit brings another MP resignation as the trade bill fight looms over the government. The UK's Rightmove house price index was published this morning and shows continued stalling and devaluation in London’s housing market. This could be seen as a barometer for wider inflation and brexit fears.  Oil prices remain volatile with prices easing on supply hike fears.  Dollar fails to gain momentum which supports gold prices. Earning season really kicking off with Royal Mail, Netflix, BoA, Unilever, Johnson and Johnson, and General Electric all amongst those publishing. Check out the ‘Earning Season weekly look ahead’ below for more info. Asian overnight: While Japan's Nikkei Index is closed on account of a banking holiday, most of the other Asian equity markets are trading lower this morning. A slow start to the week has seen losses across Chinese, Hong Kong and Australian markets. A weaker Chinese GDP reading saw the lowest level of growth since 2016 (6.7%), down on the previous 6.8%, however inline with expectations. We also saw a slowdown in fixed asset investment and industrial production, while retail sales provided the one positive reading. Trade war concerns are likely to continue into this new week, with Trump declaring that the EU, like China and Russia, is a foe of the US. Analysts from UBS speculate that a full blown trade war could knock off up to 20% from the S&P,  25% from European markets, and up to 24% off Asian equity markets.
    UK, US and Europe: Looking ahead, watch out for the eurozone trade balance data, while US retail sales, empire state manufacturing survey, and the business inventories figures provide the interest for the afternoon session. It's also worth noting that the UK's CPI figures released on Wednesday are expected to rise, backing up sentiment from some within the BoE’s MPC that interest rates should rise. Keep an eye out for GBP crosses and a bullish signal on any news which would support this claim.
    South Africa: While US Index Futures are modestly up, the Jse Top40 Index is expected to open modestly lower today following Asian markets. Precious metal prices trade slightly firmer this morning although still at depressed levels. Base metal prices are under pressure, as are oil prices today. The rand has managed to strengthen marginally against the majors over the weekend. BHP Billiton is down 0.75% in Australia, which along with softer base metal prices and a stronger ZAR is suggestive of a softer start for locally listed diversified resource counters. Tencent Holdings is up 0.15% on the Hang Seng. 
    Earning Season weekly look ahead: Earning season will really kick off this week with Bank of America, the worlds largest asset manager Blackrock, and streaming giant Netflix reporting figures today, along with the UK’s WH Ireland. Royal Mail and TalkTalk put out quarterlies tomorrow, along with Johnson and Johnson, Progressive, and Fidelity. Morgan Stanley, America Express, Hochschild Mining, RPC Group and Severn Trent look to publish on Wednesday. The well knock consumer goods company Unilever are up on Thursday, along with Big Yellow Group, Bank of New York Mellon, and Philip Morris International. General Electric, Baker Hughes, and Schlumberg will end an exhausting week on Friday. Told you it was a big one...
    Economic calendar - key events and forecast (times in BST)

    1.30pm – US retail sales (June), Empire state mfg index (July): sales expected to rise 0.6% MoM from 0.8% and Empire state index to fall to 22.75 from 25. Markets to watch: US indices, USD crosses
    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    Google could be hit by an $11bn fine tomorrow over allegations it’s forced it’s mobile Android users to illegally favour their own apps, for example the Chrome web browser, over others. This $11bn fine could be up to 10% of Alphabets global turnover. TP Group expects to deliver full-year results in line with expectations after making a good start to 2018. It has closed a number of contracts since January, including £12.5 million of UK contracts for submarine equipment.  Indivior has won a temporary injunction on a generic opioid addiction treatment.  Meggitt has won a $21 million five-year contract to supply equipment for US Black Hawk helicopters.  ZTE stock surges as US supplier sees their ban lifted, however the outlook still looks uncertain.  MTN Dubai Limited, a wholly owned subsidiary of MTN Group, has entered into an agreement in which it has sold 100% of MTN Cyprus to Monaco Telecom S.A. (“Monaco Telecom”) as part of an ongoing review of its portfolio. The net sale proceeds of €260 million (approximately R4,1 billion) will be paid upfront in cash. The transaction values MTN Cyprus at approximately 8x reported 2017 EBITDA. Anglo American Upgraded to Buy at Citi
    Asos Upgraded to Buy at Citi
    Lagardere Raised to Overweight at Morgan Stanley
    Ferrexpo Upgraded to Neutral at Citi
    AA PLC Cut to Equal-weight at Barclays
    NetEnt Downgraded to Hold at SEB Equities
    Adyen Downgraded to Hold at Berenberg
    DNA Downgraded to Hold at SEB Equities
    Featured Video from IGTV
    Please note: This information has been prpared 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.
  10. JamesIG
    Fresh trade war chat causes Asian equity markets to see red as investors remain spooked. PBoC helps support Chinese assets by raising the reserve requirements on some forward FX positions, effectively making it more expensive to bet against the the Chinese currency. US dollar remains steady on the US jobs data on Friday, with currency markets focusing on the yuan. Saudi crude production printed a surprising dip in July, and with American shale production seemingly plateauing oil prices saw a welcome rise. Gold is off it's 17 month lows but still hovers around the $1200 area of key support.  German factory orders the key thing to note on a macro front. Asian overnight: A mixed affair overnight saw Australian and Hong Kong stocks shrug off fears of a deepening trade war between the US and China, while Japanese and Chinese indices traded in the red at the end of the session. Rhetoric within the two sides stepped up once more, with China threatening a retaliatory set of tariffs on $60 billion of US exports. One of the key reasons for the strength in Australian indices was the gains we have seen in Iron Ore overnight, with the likes of BHP Billiton and Rio Tinto both enjoying a positive session. Asian equity markets are trading firmer this morning, although China's Shanghai Composite trades 1.3% lower and the Nikkei flat. In retaliation to Trump's tariff retorts, China has said that it is ready for a "protracted war" in the wake of what they believe to be unreasonable demands from the US.
    UK, US and Europe: Looking ahead, there are precious few economic events of note, with the German factory orders deterioration (-4% from 2.6%) already seen this morning providing one of the only releases of interest. Also keep an eye out for the Sentix investor confidence figure for the eurozone. A similar story for the US session, with a Canadian bank holiday adding to the calm of the day.
    South Africa: The rand is slightly softer and base metal prices trade mostly firmer this morning, while precious metal prices trade mixed. We are expecting the Jse to open up marginally firmer this morning. BHP Billiton is up 2.16% in Australia, suggestive of a positive start for local diversified resource counters. Tencent is 0.34% higher in Asia suggestive of a similar start for major holding company Naspers this morning. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    HSBC saw adjusted profits fall 2% over the first six months of the year, with an 8% rise in adjusted operating expenses denting overall profitability. Pre-tax profits (~$6 billion) came in marginally below estimates too, while adjusted revenue rose by $2 billion compared with the same time last year. With the bank in a transitional period, the higher operating expenses come amid significant investments in both the retail and investment arms of the business. easyJet saw passengers rise 4.5% in July compared with the same time last year. On an annual basis, the number of passengers flying with the airline in the 12-months to July rose 6.2% compared with the same time of year in 2017. Vedanta Resources saw a 26% YoY jump in EBITDA for the first quarter ending in June 2018, driven by higher volumes and commodity prices. Standout operational highlights included record quarterly aluminium production (up 37% YoY), Gamsberg Zinc production to commence in September, and average Oil & Gas production up 4% YoY. Wizz Air said that passenger numbers rose in July by 23%, thanks to new routes to Moldova, Romania and Austria. Load factor jumped 0.8 points to 95.4%.   BMW upgraded to neutral at JPMorgan
    Morgan Advanced upgraded to buy at Berenberg
    Norsk Hydro upgraded to neutral at Goldman
    Proximus upgraded to neutral at Citi
    Banco BPM cut to reduce at Kepler Cheuvreux
    DNB downgraded to hold at Jefferies
    Osram downgraded to hold at HSBC
    Safilo downgraded to reduce at Kepler Cheuvreux
    Featured Video
    Please note: 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. JamesIG
    Turkeys government has said it would provide liquidity and cut reserve requirements to Turkish banks yesterday. Lira drops. MSCI world equity index which tracks shares in 47 countries across the globe, down 1.1% yesterday and subdued overnight. Nikkei bounces 2.3% overnight. Deutsche Bank pointed to 5 lenders most at risk in the country due to a ‘meaningful presence’ - BBVA, UCG, ING, BNPP, and HSBC - the latter of which was down 0.72% on the closing bell yesterday. In tech Netflix head of finance will leave after 14 years, whilst Musk looks to Saudi for Tesla privatisation funding. German pharma goliath Bayer fell as much as 10% after a $289m fine from the courts who ruled one of its weed killers contains carcinogenic chemicals. The firm faces 5,000 other possible suits. Gold loses safe-haven status, near 13-month low and breaks the $1200 support. Asian overnight: Global markets trade in a more subdued fashion after yesterday's Turkey induced panic. US Index Futures are trading modestly firmer while Asian markets trade mixed this morning. The dollar is trading modestly lower today against a broad basket of currencies, in turn we are seeing a slight lift in emerging market currencies. While off their respective lows, precious metal prices are trading at severely depressed levels.
    Japanese and Australian markets regained some sense of composure following the recent Turkey-led declines. Interestingly, the Chinese and Hong Kong markets remained entrenched in a downward spiral, with a whole host of disappointing economic numbers from China denting confidence. Weaker than expected fixed asset investment, industrial production, and retail sales figures were accompanied by a sharp jump in unemployment. However, while China seems to be feeling the effects of their breakdown in trade with the US, the surprise rise in German GDP (0.5% from 0.3%) helped allay fears closer to home.
    UK, US and Europe: Looking ahead, Europe looks like the place to be, with a whole host of economic announcements ahead of a remarkably quiet economic calendar from the US. Early trade brings the pound into focus, with the latest jobs data bringing a particular focus on the average earnings numbers. We then shift our concerns across the channel, with the flash eurozone GDP reading due out alongside the latest German ZEW sentiment figures. With trade concerns denting this German centric survey, it is also worth watching the eurozone industrial production figure due out at the same time.
    South Africa: BHP Billiton is trading 1.5% higher in Australia, suggestive of a partial rebound in local diversified resource counters. Tencent Holdings is down 4.54% in Asia sugestive of a weak start for major holding company Naspers, which accounts for a 23% weighting in the Jse Top 40 Index. 
    Economic calendar - key events and forecast (times in BST)

    9.30am – UK employment data: July claimant count to fall by 7800, while the May unemployment rate is expected to rise to 4.3% from 4.2%, and average earnings for June (inc bonus) are forecast to be 2.7% higher. Market to watch: GBP crosses
    10am – eurozone GDP (Q2, 2nd estimate): growth expected to be 0.3% QoQ and 2.1% YoY. Market to watch: EUR crosses
    10am – German ZEW (August): economic sentiment index expected to fall to -17.7. Market to watch: EUR crosses
    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    Royal Mail has said that it will appeal the £50 million fine imposed by Ofcom, which the regulator imposed for anti-competitive practices.  Antofagasta reported a 32% drop in pre-tax profit for the first-half, to$465.6 million, while revenue was down 3.6% to $2.12 billion. Higher costs and lower production hit performance, and the firm slashed the dividend to 6.8p, down 34%. The firm added that trade tensions were creating ‘considerable market uncertainty’.  esure has reached a deal with Bain Capital, and will go private for £1.2 billion. This is a premium of 37% to Friday’s closing price. Bad weather pushed first-half profits down to £36.1 million, 20% lower, but gross written premiums rose 12% to £440.3 million.  Atlas Copco upgraded to buy at DNB Markets
    TLG Immobilien raised to buy at Kepler Cheuvreux
    Elementis upgraded to buy at Berenberg
    Spectris upgraded to add at Peel Hunt
    BBVA downgraded to hold at DZ Bank
    Siltronic downgraded to neutral at Citi
    Bayer downgraded to neutral at Citi
    Card Factory downgraded to sell 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.
  12. JamesIG
    Heikin-Ashi candles are now available on the IG trading platform for both desktop and mobile. This feature has been one of the more highly requested additions to charts as these types of candles are commonly used by traders looking at identifying trends visually without the need of complex analysis.
     
    How can I see  Heikin-Ashi candles on the IG dealing platform?
    Turning on Heikin-Ashi candles is simple. If you want to see these candles;
    Simply open the main menu by right clicking on the charts Navigate to “Types” and bring up the second menu list Select “Heikin-Ashi” - the candles will appear straight away
       
    How are Heikin-Ashi candles different from regular HLOC candles?
    You can read more about what Heikin-Ashi candlestick are on IG.com, but to see a simple visual on the difference and how these could be used for identifying possible trends, just check out the charts below. Both charts are the same time fame on the same asset, one with regular candles and the other with Heikin-Ashi candles. 
     
    Pic 1: regular candles (and the visual of how to turn H-A candles on)

     
    Pic 2: Heikin-Ashi candles

  13. JamesIG
    Alerts are great for keeping you up to date with broad market movements and macroeconomic news events. To make sure you receive the alert on mobile or via email requires an opt-in setting within MyIG, along with settings on your mobile (Push only). 
     
    Turning on notifications in MyIG
    When you’re logged in to your IG account go to your Communication Preferences in MyIG. On the 'Prices & Dealings' tab make sure you have turned on your Email and Push notification options. You can also look through other areas of the Communication Preferences section to make sure you're signed up to Newsletters and other notification areas.

     
    Turning on notifications on iOS (Apple iPhone / iPad etc)
    In your iOS settings, navigate to the Notifications section and make sure you have ‘allowed’ notifications. If you don’t turn on notifications, then you won’t be able to receive push Alerts.

     
    Turning on notifications on Android
    In the Android settings section of your mobile device click on ‘Notifications’ and scroll to the ‘IG Trading’ application. You can turn notifications on here along with other more granular notification options.

     
    ...and that's it!
    You should now be ready to receive Price, Indicator and Economic alerts which you have signed up for. 
  14. JamesIG
    If you have any questions regarding the information below please add a comment. To get the best experience on Community please make sure you LOGIN. Notifications, private messages (if required), and tagging are only possible if you are logged in.
     
    In January, ESMA proposed a number of changes for leveraged retail traders within the EU region and kicked off a consultation period to open up the discussion. Over 14,600 people had their say via the #ReplyToESMA website, with an overwhelming majority opposing the regulatory changes.
    On the back of the proposal and trader feedback, ESMA drew up new regulations which are set to go live on August 1. To comply with these new regulations you may notice some changes on your IG account from the week commencing Monday July 23, 2018. Although not all the regulatory changes will affect all clients (for example some regulatory changes only affect specific instruments or account types), you can find a roadmap for these changes below.

    Wednesday, July 25
    Collateral - Linked collateral accounts were available for clients who had both a leveraged trading account (CFD or spread bet) and a stockbroking account. As of Wednesday, July 25 linked collateral accounts will no longer be an option. If you have insufficient funds at this time your leveraged trading account will be at risk of position closures.
     
    Thursday, July 26
    Credit limits for retail clients (formerly known as ‘Select Accounts’) - Some clients used to have ‘Select Accounts’, which allowed for certain types of credit limits or margin rates. On Thursday these account types will be switched to ‘closing only’ (i.e. the account type and agreed terms will remain, but you can only close your positions at your convenience and no new positions can be opened under this account type). Any new position would need to be opened under a newly set up, regular IG retail account. 
     
    Friday, July 27
    CFD options - At 15:00 (3pm) UK time all UK and European retail CFD clients will have any open options position closed basis the IG mid-price and all option marks will be set for ‘professional only’.
    IG has recently taken a business decision to no longer be supporting options trading for CFD accounts contracted through our European offices. While we appreciate that this decision will cause frustration to those who enjoy the product, regrettably, options have become a market that no longer fits with IG’s European offering. We are currently looking into alternative products to offer to meet a similar requirement and further information will be published when available.
    Closing at the mid-price means that IG will also not be charging any dealing costs to close your positions which remain open at 3pm UK time on 27th June. If you have access to a Spread Betting account (UK clients only), we will also be happy to “bed and breakfast” your trade across at the relevant, current prices, so please let us know if that is something you wish for us to do. This will need to be done over the phone as it would constitute a deal, so please give one of our trading services members a call at a time convenient, but before the above cut off date and time.
    If you have a Spread Betting account, only available to UK residents, then you can continue to speculate with options. If you are a UK resident but don’t have a spread betting account you can add one in My IG by clicking on My IG > Dashboard > Add an account.
     
    Saturday, July 28
    A number of changes will be applied over the weekend
    Margin Changes - Margin requirements to open and maintain leveraged positions was one of the more prominent aspects of the ESMA regulations. On the Saturday, July 28 new margin floors will be implemented across all ESMA retail accounts for all new positions. Existing positions will keep current margin rates. You can find more information regarding retail margin requirements here.

    Negative balance protection - All retail clients contracting to ESMA regulated entities will have negative balance protection applied to their account.

    Offsetting long and short positions - If a client is currently long and short a particular market then they will currently pay 10% of either leg. From July 28, clients will have to pay 100% of the ESMA margin on each position. This change will only apply on new positions, therefore if you are currently long and short the same market then you will continue to receive the concession.

    Rollovers - When Retail clients futures contracts rollover and a position is opened after the July 28, then the new position will be margined basis the ESMA minimums.

    Concessions - Some retail clients may receive concessions based on trade activity. ESMA regulations mean that retail clients will no longer receive any form or rebate or concession (funding concession/currency conversion concession).
     
    Monday, July 30
    Automatic COM (close out monitor if you have insufficient funds to cover the open trades in your account) - Retail clients will be subject to different COM ratio/available to deal calculations that will vary depending on what region you are in. You can read an overview of the ESMA margin rules from July 30th here.
     
    If you have any queries or questions regarding the new ESMA regulations please add a comment below. You may also find the following links useful.
    Compare our leverage offering
    Professional trading
    Once again, please remember that these changes only affect retail clients of EU firms (that are subject to ESMA regulation), and do not apply to professional clients. Please add any query, question, or request for clarification below.
    Best
    James 
     
  15. JamesIG
    This week sees Brexit negotiations between the UK and EU come to the forefront once more. IG's own Sara Walker will be joined by Nick Cawley from Daily FX and Simon French, Chief Economist to UK merchant bank Panmure Gordon, to discuss how the meetings outcome could affect the FX market. 
    The second #IGForexChat
    You can join us on Thursday 18 October at 6.30pm (BST) live on IGTV to get involved with the conversation. Submit your questions directly to the panel by adding your questions below, or by replying live in real time using the #IGForexChat hashtag on a number of social media platforms. 
    Topics to cover can be defined by you and other IG clients, so make sure you get your questions in now. 
    Overview of how the pound (EURGBP/GBPUSD) has been affected together with other indicators such as FTSE 100 What the possible outcomes of the next Brexit talks look like? Is Brexit also affecting other currencies such as the Euro/Dollar? Trading tips depending on final deals The speakers
    Simon French: Chief Economist at the UK merchant bank, Panmure Gordon & Company. He is a Top-5 ranked economist in the City’s Extel rankings and has a monthly column for The Times newspaper. Prior to joining Panmure Gordon he was a Senior Civil Servant, latterly at the Cabinet Office as Chief of Staff to the UK Government’s Chief Operating Officer. 
    He holds an Undergraduate and Postgraduate degree in Economics & Finance from Durham University and is a member of the Government Economic Service and the Society of Professional Economists.
    Nick Cawley: more than 30 years of experience covering a wide range of financial markets and instruments. After nearly two decades of trading and broking a variety of fixed-income products, Nick turned his hand to reporting and analysing macro and micro events in the fixed income and foreign exchange sectors.
    Submit your questions now
    Get involved with the #IGForexChat and put your questions to Simon and Nick. Submit your questions below. 
  16. JamesIG
    A trading forum and help and support network for IG clients
    The new IG Community has been live for a few weeks now and I just wanted to update all Community members on a couple of things, including a showcase of a brand new promotional video. This should be useful for those who haven't used Community before but what to know more - it's well worth a watch.
    If you have any comments or questions regarding the new forum please let us know in the Comments section below. We're always looking to improve our offering based on what traders want - so give us a shout!
     

    New features this month
    Guests can now post without necessarily needing to be logged into Community. We want to make sure that all content is still relevant and interesting, so all guest posts will have to be approved by a moderator before being publicly visible. We want to make sure that quality over quantity remains, however the recent trial seems to have gone well and the Community is getting more relevant posts to add to discussion. If anyone has any opinion on this we'd love to hear from you so please feel free to add a comment below.  We recently had a trial of the new 'poll' feature on a post relating to new cryptocurrencies. You can read that article on which crypto your most interested in here. Currently only moderators can post polls, however if you as a client would like to have this function, let us know! We're interested in who would use it.   We're now in the top navigation bar on IG.com - it may not sound like a big change, but it allows you to get to the forum very quickly from anywhere on the IG.com environment (look for the global black navigation bar at the top). We're also looking at inclusion in MyIG - that should be live shortly.  Finally, we have some stats for you which you may find interesting.   

     
    What is IG Community?
    This purpose of this forum is for like-minded clients to share trade ideas and discuss market opportunities, ask questions, and provide help and support to others.
    Learn strategies and trade ideas from experienced traders Give tips to the Community and share your market knowledge Perfect your trading by discussing ideas with others Get the most out of IG and ask the Community anything regarding trading or IG Anyone can browse the trading forum, but you will need to have an IG account to post or interact on Community and have your content published immediately. If you're new to the forumand looking for a first step maybe check out the forum, or have a once over of our Community tutorials. 
     
    We migrated the old forum (and added some new features)
    We have migrated over all the posts, likes, 'kudos' and private messages from the previous version of the forum, as well as integrated the Community login with the wider IG eco system so you can enjoy a seamless digital experience between the trading platform and forum. You should be able to see all your previously posted content under the same Community username as you originally had on the previous iteration. 
    New content areas...
    Blogs: We have three blogs which we will be updated periodically.  Market News - Daily morning briefings, index dividend adjustments, and one off articles IG Product Updates - A place to let you know about all the things we roll out IG Community Blog - Competitions, 'Ask the Expert' series, and Community updates ...and a few new features.
    Activity streams: If you're logged in you'll notice you can easily browse things such as 'unread' or 'followed' content. You can save individual search streams so they're available for the next time you log in  Advanced search: An updated and intuitive search functionality Leaderboard: The Leaderboard keeps track of the hottest content and best users each day based on reputation received. You'll increase your chances of getting on here if you post more, receive more likes, and help others Community Profile: Your space in Community. Check yours out by clicking on your username in the top right hand corner (logged in users only).  
    Access IG Community - anytime, anywhere
    IG Community will be up 24 hours a day, 7 days a week. The easiest way to access IG Community is using the top right hand 'Help' drop down in the dealing platform, but you can also access via our mobile apps (look under the help and support section - try it now), or by simply going to community.ig.com. What do you like? What would you change if you had the chance? What new areas would you like to see? Let us know using the comments section below. 
     
    Happy chatting
    IG Community Moderator Team
  17. JamesIG

    IG Crypto 10 Index

    By JamesIG,

    We are now live with our 'Crypto 10 Index' for all clients*. You can find this asset via the dealing platform 'Search' function on mobile or the desktop trading platform, or via the left hand 'Cryptocurrency' fly-out on the desktop platform. 
     
    What is the 'Crypto 10 Index'?
    The Crypto 10 Index represents the performance of the largest 10 tokens (constituents at the bottom), selected and weighted by market capitalization. At current crypto currency prices the index captures close to $320Bn of market cap, representing over 85% of the total capitalization of all traded digital assets. 
    Trade 24 hours a day (excluding Friday 10pm to Saturday 4am London time). Take advantage of the recent crypto markets volatility - go long or short the index. The index is priced in USD, and is calculated and managed by BITA GmbH. Please find product data information on your local Help and Support page. You can see the UK page here.  
     
    What are the constituents of the Index?
    The constituents of the index, which are subject to change, are as follows:

    *excluding the US, Japan, and Singapore
  18. JamesIG
    Expected index adjustments
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 5th Aug 2019. 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. 
    Figures  and adjustment dates can be affected by public holidays. Special Divs are highlighted in red.
     
    Special Dividends
            Index
    Bloomberg Code
    Effective Date
    Summary
    Dividend Amount
    UKX
    BT/A LN
    08/08/2019
    Special Div
    49.82
    AS51
    RIO AU
    08/08/2019
    Special Div
    126.4286
    RTY
    JBSS US
    05/08/2019
    Special Div
    240
    How do dividend adjustments work?
    As you know, constituent stocks of an index will periodically pay dividends to shareholders. When they do, the overall value of the index is affected, causing it to drop by a certain amount. Each week, we receive the forecast for the number of points any index is due to drop by, and we publish this for you. As dividends are scheduled, public events, it is important to remember that leveraged index traders can neither profit nor lose from such price movements.
    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. JamesIG
    We have recently released a charting update which gives you a brief overview of the indicators on the IG platform and how you can use them to get the most out of your technical analysis. We plan to roll this out imminently for the various drawing tools we have on the platform as well. 
    You can see how this looks in the image above. 
    How to access IG indicator descriptions on our charts
    Either right click on the chart and select 'Indicator' or use the 'Indicator' button at the top of each chart. Bring up the indicator you want more information on by hovering over it. A little 'i' symbol will appear when you hover over each one. Hovering over this information button will bring up the relevant info. You can scroll on these boxes. How IG acts on client feedback
    You can submit feedback in a number of ways, the most convenient of which is via the IG Community Feedback and Suggests board. Other methods include email, via live chat, and within the dealing platform itself in the top right hand corner drop down.  
    We host weekly and monthly meetings specifically designed to focus on getting individual client feedback to our developers, stakeholders, and senior management teams. All feedback channels are discussed, so every comment you leave with us is passed on to the appropriate team. 
    You can read more information on how this works using the link to the right. 
  20. JamesIG
    Asian equities diverge, as Chinese shares fall and Japanese shares climb. The Euro jumped on Monday after Mario Draghi of the ECB signalled that policymakers are on track to reduce stimulus measures. He stated that the bank was confident it could maintain inflation targets over the next few years. In the EM space, India's Nifty Fifty stock market is seeing a sell off after reports that a major lender is struggling to service $12.6bn of debt. The index is down 7% since highs seen in the latter half of last month. Instagram founders quit the Facebook acquired business less than 6 months after WhatsApp founders do the same. Oil prices are remaining at their 4 year high despite some inevitable profit taking. As Reuters reports "US sanctions against Iran and unwillingness by OPEC to raise output supported the market." In the crypto space more than 75 of the worlds largest banks are joining the Interbank Information Network to see if blockchain technology can speed up payments and remittance processes.  US Consumer Confidence is the macro data to look out for later today. Asian overnight: The Japanese and Chinese markets have reopened following yesterday’s bank holidays with a disconnect between the two. The breakdown in talks between the US and China understandably continues to weigh on Chinese stocks, with the ASX 200 also in the red. Meanwhile, both Japanese indices have been gaining ground amid a strengthened USDJPY. Crude prices hit a four-year high following the decision from OPEC to not raise production over the weekend. Metal prices are trading flat today.
    UK, US and Europe: A quiet calendar ahead sees the US consumer confidence figure provide the one notable event of the day. With the Chinese trade talks continuing to sour, the expectations of a weaker reading are not surprising. Global markets are trading mixed this morning as they wait for their next directional catalysts, which are likely to be updates on the Brexit and Trade war narratives later this week.
    As gold prices continue to echo the swings seen in the USD, the market is generally looking towards Wednesdays FOMC monetary policy announcement before a direction is confirmed. Whilst from a technical perspective gold seems confined to a fairly tight range, it is pushing towards the falling 1220 target. 
    South Africa: The rand is trading slightly firmer this morning. The JSE Allshare index is expected to open flat to marginally firmer this morning. BHP Billiton is up 0.8% in Australia suggestive of a positive start for local diversified resource counters. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    3pm – US Conference Board consumer confidence (September): expected to fall to 131.3 from 133.4. Market to watch: USD crosses
    Corporate News, Upgrades and Downgrades
    Next has seen a 0.5% rise in first half profit, to £311.1 million, while sales were up 3.8% to £1.99 billion. Full-price sales rose 4.5%, ahead of the expected 2.2%.  Imperial Brands said that it remains on track to hit full-year revenue and earnings guidance, thanks to a stronger second half due to an improved tobacco price mix and increasing next generation product revenue.  McCarthy & Stone will focus on cost-cutting, looking to save £40 million a year by FY 2021. It will produce around 2100 new homes a year, while looking to improve margins.  Alfa Laval upgraded to reduce at AlphaValue
    Boliden raised to equal-weight at Morgan Stanley
    Curasan upgraded to buy at Montega
    Epiroc upgraded to buy at DNB Markets
    Investec upgrade Anglo Platinum with a target price of 48000c
    Auto Trader cut to equal-weight at Barclays
    Sky downgraded to hold at Jefferies
    BHP downgraded to equal-weight at Morgan Stanley
    J D Wetherspoon downgraded to hold at Peel Hunt
    Investec downgrade Pick n Pay to sell with a target price of 6900c
    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. 
  21. JamesIG
    A look at our in-person seminars
    Earlier this summer we arranged our largest ever event in Scandinavia, with John Bollinger the creator of the technical Bollinger Bands indicator as a keynote speaker. Other speakers included Lee Sandford, an IG client and the founder of Trading College, and our local market analyst, Erik Hansén.
    The events, attended by about 450 prospective and live IG clients, were held in Oslo and Stockholm and followed a very similar ‘roadshow’ pattern which some of our other offices in Europe have put on for our client base. It’s always great to meet clients face to face and discuss trade ideas and market opportunity, as well as receive feedback and suggestions about our products.
    Have a look at a couple of the links posted at the end of this article to see if there are any live events, seminars, or webinars you can sign up to. Also make sure you’ve opted in to our emails so you can stay up to date and informed on any one off events we want to let you know about! You can find this in My IG Dashboard > Settings > Communication Preferences.
    When preparing for this event we listened to feedback from our client base who were keen on us bringing in successful traders and prominent people within the industry to talk about their experiences and share their trading insights.
     
    Trading strategies
    The evening started with IG’s own Erik Hansen welcoming everyone and introducing the presenters, as well as giving a quick overview of IG and our trading platform for those who hadn’t used it before. Erik also spoke about a few trading strategies and tools that help clients find interesting buy/sell opportunities, such as our market insights news and analysis, trading signals, and IG’s charting packages. We have a few strategy articles on IG.com which may be worth checking out to get a feel of the things discussed.
    Charting the value of technical analysis 16 candlestick patterns every trader should know How to trade a head and shoulders pattern Pivot point trading strategies Ichimoku Cloud trading strategies explained Next up was Lee Sandford who told us how he uses Fibonacci in his trading and how he combines it with MACD and stochastics. Lee also showed how he finds business opportunities with good risk reward by identifying interesting turning points in the market. There are a couple of videos posted below which may be interesting for some when we had Lee in the London office with IGTV, and an article on using the Fibonacci tool to trade.
    Last up was John Bollinger himself, who gave us a practical view on Bollinger Bands and trading techniques like "Pattern recognition", as well as setups like "W bottoms" and "squeeze". Bollinger Bands can be a great trading tool for the technical analysts amongst you and there are countless strategies and videos online which are worth having a look over. We have a special Bolling Bands article written by IG's own Joshua Mahony on the IG.com website to get you started. 

     
    Something of interest
    Each speaker was strong in their own right, but what really made the event a success was the breadth of the spectrum we were able to cover – ensuring there was something of interest to both beginners and advanced traders.
    We saw a good amount of 'chatter' across social media, both beforehand and during the event itself, and we received some great feedback from those who came and chatted afterwards.
    We really want to hear from people if they would like a similar event in their city. We are constantly working with our clients and listening to feedback to improve our offering, and seminars and events like this are no different.
    Drop us a message below if this is something you’d be interested in, and let us know the sort of event, or guest speakers, you would be keen on hearing from.

    Live events, seminars and online webinars near you
    Online webinars and courses can be found on IG Academy with live trading sessions available too. Make sure your email notifications are on if you want to keep up to date with one off events. Our South African offices have weekly in-person seminars in Johannesburg and Cape Town. Singaporean clients can check out in-person trading seminars (scroll down the page).
      Lee Sandford IGTV videos
     
    Hope you enjoyed this insight
    Happy trading
    James
  22. JamesIG
    Submit your questions now! In October we will be hosting a number of live chats and discussion dedicated to the world of currency trading and the foreign exchange market. Each #IGForexChat will focus on a unique topic, relevant to the macroeconomic landscape today.
    These topics will include; the ongoing US - Sino trade war, Trump's protectionist tariffs, and the renminbi; the uncertainty surrounding Brexit and any ongoing EU negotiations; and finally the recent sell side pressure affecting emerging market currencies and their local economies. 
    Submit your #IGFXChat questions now... Each #IGForexChat discussion will be hosted by our own IGTV presenters along with an elite group of influencers, analysts, traders, and market commentators. We will broadcast LIVE within the IG dealing platform, on IG Community, and via our broader social media platforms such as Facebook and YouTube. 
    Our first #IGForexChat will focus on...
    What effect will the trade war have on forex markets?
     
    Possible effects of Trump’s policies Possible effects of Chinese, EU, G7 reactions, etc Chinese renminbi – how will its valuation develop, will China continue to exert control over its value, etc? Key pairs to watch over next 12 months The most important part of the #IGForexChat will be you! We want to hear your questions so we can put them to the panel, opening up a two way channel between you and a group of experts which you may not usually access. The first two guests will be Raj Dhall at tradingview.com and Samuel Morton at lovethepips and forexcfdsignals.com.
    Submit your questions now!Throughout the live broadcast you can use the #IGForexChat hashtag to submit your questions via any form of social media, but you can also submit any question you may have right now, simply by commenting on this post. If you're an IG client (both live and demo) make sure that you are logged into Community before you post. 
    We've done this type of broadcast before with our #IGCryptoChat discussions we had back in March 2018. You can check out an example of what we have instore for you below.
    Submit your #IGFXChat questions now... If you're a 'guest' to this page and don't have an account with IG, you can still leave a comment below (however it will need to be approved by a moderator).
  23. JamesIG
    If you like to change between different intervals on the IG desktop charts (from 1 minute candlesticks to 5 or 10 minute candles, or to hours, days or months) then we've just made it easier with keyboard shortcuts. Whilst on a chart you can type any number from 1 to 5 on your keyboard to bring up a small 'interval' dialogue box, confirm your choice, and hit enter. For example:
    1 minute intervals: type 1 then enter
    5 minute intervals: type 5 then enter
    1 hour intervals: type 1 h then enter
    2 hour intervals: type 2 h then enter
    1 week intervals: type 1 w then enter

    See crosshair data on future dates
    You can now place your cursor/crosshair on a future date and see the level and time/date where you are positioned. Whilst this is a very minor update which could be seen as a trivial feature, it can  become quite handy if you're looking at a trend and want to know exact levels and the time they will be reached. Simply position your cursor in the future and you’ll see the corresponding information straight away.
    If you have any questions or feedback on this, please feel free to share in the Comment section below. 
  24. JamesIG
    China announces a new round of trade talks with the US.  Asian shares, however, hit fresh one year lows on fears of an economic slowdown and the continued Turkish lira volatility. Tencent's earnings shock really weighs on investor sentiment. Amazon is said to be considering UK insurance comparison site. Bitcoin holds above the crucial $6000 mark as crypto traders eye possible bullish reversal. UK retail sales and Canadian ADP figures are the ones to look out for today. Asian overnight: A somewhat calm session overnight saw a slowdown in the recent rate of decline, with the ASX 200, Shenzhen composite, and Nikkei 225 all trading flat. The losses did continue for the likes of the Topix and Hang Seng, but even they were relatively moderate in comparison with recent moves. News that there will be a resumption of trade talks between the US and China authorities at the end of the month, is helping provide some reprieve for equity markets, whilst the dollar is trading marginally lower.
    The breakdown in relations between Turkey and the US remains a key concern, yet with the lira seemingly stabilising over the course of the week, it seems the measures being brought in by the Turkish have held arrest its decline for now. Data-wise, Japanese trade balance moved into a deficit, while a mixed Australian jobs report saw a fall in unemployment overshadowed by the first negative employment change figure in more than a year.
    UK, US and Europe: Looking ahead, the UK retail sales release will ensure that markets will remain focused on the pound, following the recent jobs and inflation numbers. Make sure to look for the year-on-year figure given the volatility of monthly retail sales numbers. Also keep an eye out for eurozone trade balance data this morning. In the afternoon, the Canadian ADP jobs number in one of a handful of tier two releases, including the building permits, housing starts and Philly Fed manufacturing index from the US.
    South Africa: The rand is off its worst levels from yesterday although remains depressed after comments from Moody's Investor Relations yesterday. The ratings agency has expressed concern about the country's pace of fiscal consolidation as expectations for economic growth are lowered and the public sector wage bill rises. BHP Billiton is down 2.55% in Australia and Tencent Holdings is down 3.1% in Asia. This is not expected to fully translate into losses on our local bourse today, in lieu of a lot of the declines having been priced in yesterday. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9.30am – UK retail sales (July): expected to fall 0.3% MoM and rise 2.9% YoY, from -0.5% and 2.9% respectively. Markets to watch: GBP crosses

    1.30pm - US housing starts & building permits (July), Philadelphia Fed Index (August), initial jobless claims (w/e 11 August): permits to rise 1% MoM and starts to be 5% higher MoM. Philadelphia index to fall to 22 from 25.7. Claims to rise to 217K from 213K. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    Kingfisher reported a 3.4% rise in sales for the second quarter, to £3.26 billion, while like-for-like sales rose 1.6%. A weak performance in France hit overall growth.  KAZ Minerals said that pre-tax profit rose 48% to $355 million for the first-half, while revenue was up 22%, supported by higher average copper prices and increased copper sales.   Rank Group reported a 7.9% fall in operating profit, to £20.9 million for the full-year, and warned that current trading was proving difficult due to the warm weather seen in the six weeks to 12 August.   Axa upgraded to buy at Bankhaus Lampe
    DNA upgraded to buy at SEB Equities
    Saipem upgraded to hold at Jefferies
    JCDecaux upgraded to buy at Berenberg
    AstraZeneca downgraded to hold at Jefferies
    Informa cut to equal- weight at Morgan Stanley
    Leoni downgraded to hold at Quirin Privatbank
    Petrofac downgraded to hold at Jefferies
    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.
  25. JamesIG
    Hi all
    Over the last 24 hours or so you may have seen some official communication similar to the below. To run parallel to that we thought we would run a Q&A today to answer a few of your questions. Whilst you can of course ask anything you like below, the standard community guidelines apply; for example I can't discuss personal trade information or account details on a public forum. 
    [UPDATE: whilst the live Q&A is over, we will periodically review any new questions and reply accordingly. You can ask any other questions you want as normal on the regular forum here]
    Last week shortly after the US open some clients may have experienced issues accessing the IG trading platform. These incidents were brought about by a sudden and significant increase in activity, largely from new clients.
    For those who were impacted I’d like to apologise that you haven't received the seamless digital trading experience you have come to expect from us. This, along with a professional, consistent, and market leading level of client service will always be our top priority.
    Whilst we reacted quickly to address this spike of interest by increasing trading services staff, limiting and ultimately stopping new applications, increasing technical capacity, and prioritising efforts to manage and support our existing client base, we understand that more needs to be done.
    Over the weekend we have worked especially hard to further increase capacity to better address the spike in trade volumes and frequency. We will be closely monitoring the impact of the changes we have made over the last few days and making any additional changes where necessary.
    As part of our goal to increase the stability of the trading platform and improve our service levels we have set a couple of equities, GME and AMC, to ‘closing only’. This means that clients with existing positions can buy or sell to close, however new positions cannot be opened. This decision addresses the significant interest these equities have received which have resulted in lower service levels for all other clients on our platform.
    As a trading services provider our priority is to offer an efficient, stable, and seamless digital trading experience on over 17,000 markets to our established client base. Whilst the recent events in the underlying market may have added new challenges and considerations, we shall continue to prioritise these things above all else.
    Thanks very much.
    James
     

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