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JamesIG

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  1. 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).
  2. 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. 
  3. JamesIG
    The US stock market opens from 2:30pm to 9pm London time, which means many UK-based trading companies only allow you to trade these individual stocks up until 9pm (with other regions having restrictions based on their local time zones). We know that many IG clients want to trade outside of these hours, especially over earning season, so we sought to offer you 'extended hours' on many of these major companies. 
     
    Trade the US FANG index 24 hours a day at IG
    This same concept applies for a bespoke IG index, available on the platform under "US FANG", which we now also offer 24/5 trading on. This means that you can take advantage of market movements after the main session closes, and better manage your risk with deal execution all the way up until 1am midweek, and up to 10pm on Friday (UK times - local times will vary). Check your local Help and Support pages for more information.
     
    Where next for the FANG?
     
    US earnings season schedule 2019
    Several major companies release their quarterly figures across similar months every year:
    January and February April and May July and August October and November See below for a list of major companies and the dates of their latest/upcoming earnings announcements.

    * Dates in square brackets [DD/MM/YY] are expected reporting dates; to be confirmed.
  4. JamesIG
    Expected index adjustments
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 22nd July 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.

    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.
  5. JamesIG
    In a similar manner to our position preview feature you can now see your working order shaping up on the charts as you start creating orders from the ticket.
    Simply input your order direction, size and level and you will be able to see a preview on the chart. You can then decide to drag you Stop and/or Limit from the chart to define their absolute level and see the related Risk/Reward Ratio. Once you are happy with this just place your order from the ticket et voila!
    If you have any comments, feedback, or questions on this please add your thoughts to the comment section below. Client feedback is a driving force behind platform improvements and all suggestions are forwarded to the appropriate project management and product ownership teams.
    NB: You will need to make sure 'position preview' is on - you can toggle this by right clicking on the charts and navigating to 'show'.

  6. 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
  7. JamesIG
    Set stops and limits on charts: click, drag and drop
    You can now use a 'drag and drop' functionality to set the stops and limits on your chart before you have placed a trade. This is available for anyone who has 'Position Preview' enabled. If you don't have this turned on, simply right click on your charts and make sure 'Position Preview' is ticked.
    When you are setting you trade and you have selected 'Buy' or 'Sell' you will see the 'Stop/Limit' option appear. Hover over the horizontal line and left click, hold down, and drag to create an absolute stop or limit level.

    To set the stop or limit simply release the left mouse button. The platform will know if this is a stop or a limit automatically depending on which way you drag your cursor. You should notice that the stop and/or limit will be an absolute figure, and whilst the 'points away' in the deal ticket will change and react accordingly, the stop/limit level on that chart will remain absolute. 
    As with other stops and limits, you can move this at a later date if you wish. 
     
    HLOC % Change 
    We have also added a further row to HLOC data to share % Change. To bring up HLOC data requires a right click, followed by Show > HLOC Data. Once selected hovering over the chart candlesticks should bring up the required information. 
     
    Video example 
    You can see both of these features in the video below. Notice how when the stop and limit has been dragged to the appropriate level, the level itself remains absolute whilst the stop and limit 'Points Away' in the deal ticket moves with the market. 
    stopslimitscharts.webm
  8. 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. 
  9. JamesIG
    Expected index adjustments 
    Please see the expected dividend adjustment figures for a number of our major indices for the week commencing 8 Oct 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 
    You can see the special dividends listed below. Unfortunately we do not have granular insight on the effect on the index for the index in question, however the below maybe helpful for some. Please note the dates below are the stock adjustments in the underlying individual instrument, whilst the index div adjustments are taken out the day before on the IG platform at the cash close.
    Index
    Bloomberg Code
    Effective Date
    Summary
    Dividend Amount
    UKX
    BDEV LN
    11/10/2018
    Special Div
    17.3

    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.
  10. 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. 
  11. 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. 
  12. 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.
  13. JamesIG
    Stocks pull back in the Asian overnight market after a tepid close of Wall Street last night. Bellwether metals copper and zinc, along with other industrial metals, continue their rally as investors and traders focus on increasing demand rather than US-Sino relations. Rio Tinto announced a $3.2bn share buyback scheme, and whilst the Anglo-Australian miner saw 3.2% gain the ASX didn’t follow suit and ended down slightly. Potential swings on the UK Rio listing on the open. In EM currencies, the SA Rand rallied on Wednesday after consumer price growth slowed according to inflation data. This comes ahead of the rate decision today - one to keep an eye on amid potential volatility. A solid reading on New Zealand’s economic growth GDP figure pushed the NZ dollar higher. US dollar index was down around 0.1%, with the euro trading at around 1.168 USD whilst 10 year treasuries are up around 10 basis points in the last week. US crude inventories saw a three and a half year low yesterday whilst gasoline saw a pullback. Both energies were up on the news and have seen consolidation since. This could be one to watch today for any profit taking or movement on the back of trade talk news. The president of the Financial Action Task Force, the global anti money laundering body, has said he’s optimistic about agreeing a set of standards for AML procedures applied to crypto and virtual currencies. Retail Sales in the UK, US initial jobless claims, and the EU press conference are the macro data areas to look out for today.
    Asian overnight: A much less decisive and convincing session overnight has seen Asian markets largely exhibiting moderate gains in a day that has seen them oscillate around the market open level. The one loser on the session came from Australia, with the ASX 200 falling after a report from the RBA said that in an all-out trade war, the AUD could significantly strengthen. The NZD was one of the strongest currencies of the session, following an improved GDP number of 1% for Q2.
    UK, US and Europe: Theresa May stated yesterday that she will not accept Brexit offers that treat Northern Ireland as a separate customs territory, after the EU proposed to keep the region within its customs union and single market. Further to the Financial Action Task Force statement on cryptocurrencies discussed above, the UK's Treasury Committee has announced that the country could soon implement regulatory reforms for Cryptocurrencies, to address poor security, extreme volatility and excessive anonymity. The proposed aim is to make the UK a legitimate home for crypto trading and become a major trading centre.
    Looking ahead, the UK is back in focus with the release of the latest retail sales number. Volatility over Brexit has been influencing the pound and thus traders should also watch out for any further comments from the UK or EU. In the afternoon, keep an eye out for the US Philly Fed manufacturing index and existing home sales. Meanwhile, the eurozone comes back into play, with consumer confidence and an appearance from Bundesbank President Weidmann later in the day.
    South Africa: Global markets are giving ambiguous signals today for the JSE as US Index futures and Asian markets show a mix off marginal gains and losses this morning. There is little in the way of new news to guide markets today although South African traders and speculators will keep a watchful eye on the Reserve banks monetary policy meeting this afternoon.
    Lending rates are expected to remain unchanged, although there remains a possibility of a marginal rate hike. The rand remains firm leading into the news event. Tencent Holdings is up 0.25% in Asia suggestive of a marginally positive start for major holding company Naspers. BHP Billiton is trading 1.14% higher in Australia, suggestive of a positive start for local resource counters.  
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9.30am – UK retail sales (August): sales to rise 0.2% MoM and 2.7% YoY, from 0.7% and 3.5% respectively. Markets to watch: GBP crosses
    1.30pm – US initial jobless claims (w/e 15 September), Philadelphia Fed index: claims to rise to 208K from 204K, while the Philly Fed index rises to 15 from 11.9. Markets to watch: US indices, USD crosses
    3pm – eurozone consumer confidence (September): confidence index to rise to -0.7 from -1.9. Markets to watch: EUR crosses
    3pm – US existing home sales (August): forecast to rise 0.6% MoM from a -0.7% fall. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    Rio Tinto has announced details of its $3.2 billion share buyback, combining an off-market tender of $1.9 billion and additional on-market purchases.  Stobart said that passenger numbers at its London Southend airport rose 37% for the first half.   Kier Group reported a 9% rise in underlying pre-tax profit for the full year, to £137 million.   Diageo said that the new financial year had begun well and that performance remained in line with expectations. Heightened exchange rate volatility is expected to hit operating profit for the year by around £45 million.   Aveva upgraded to overweight at Barclays
    Weir upgraded to overweight at Morgan Stanley
    Bayer upgraded to buy at Citi
    Proximus upgraded to buy at Citi
    Essity downgraded to neutral at Goldman
    Nokian Renkaat downgraded to sell at Carnegie
    Telenet downgraded to neutral at Citi
    Telefonica Deutschland downgraded to sell at Bankhaus Lampe
    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. 
  14. JamesIG
    The rebound in Chinese stock markets has extended and US bond yields are steady after the market digested the trade tariff news. MSCI Asia-Pacific index up 0.95%, whilst the Japanese Nikkei rises 1.3% A reclassification of the S&P 500 will see tech behemoth such as Facebook and Alphabet move from 'information tech' stocks into 'communication services' along with about a fifth of the index. Oil prices are seen to consolidate after rally. Cryptocurrency markets are holding steady, and with higher lows being made across the board this could signal a trend reversal for many technical traders. UK inflation data is in focus today, likely to be closely watched as investors economic optimism hits a near seven year low. Asian overnight: Asian markets continue to defy expectations, with gains throughout the region flying in the face of an intensified trade breakdown between the US and China. In a retaliation to the US decision to implement tariffs on $200bn of Chinese imports, China has now responded with further duties on $60bn of US imports. Chinese authorities have however said that they would not intervene in the currency market and have not yet removed themselves from upcoming bilateral talks on trade with the US. Despite both sides announcing new tariffs yesterday, the level of those levies are somewhat lower than expected, sparking a relief rally.
    In Japan the BoJ decided to maintain a steady monetary policy, with the bank stating that they will maintain extremely low rates for an extended period of time.
    UK, US and Europe: Looking ahead, the European session will focus on the UK inflation data, with CPI expected to reverse last month’s gain, with a tick lower to 2.4%. A similar move is expected with core CPI, where a shift down to 1.8% would help continue the downward spiral of 2018. CPI, which stands for Consumer Price Index, is a key measure of inflation for the UK and is used by the Bank of England in making interest rate decisions. The report tracks changes in the price of a basket of goods and services that a typical British household might purchase. An increase in the index indicates that it takes more Sterling to purchase this same set of basic consumer items
    The afternoon brings building permits and housing starts from the US, while an appearance from Mario Draghi and the crude inventories means that we should have a sufficient amount of data to shift the needle.
    South Africa: The Jse Allshare index is expected to post  gains this morning following its international counterparts. The rand is holding on to short term gains while commodity prices tick higher on the back of a weaker dollar. Tencent Holdings is trading 2% higher in Asia suggestive of a positive start major holding company Naspers. BHP Billiton is up 2.89% in Australia suggestive of a positive start for local resource counters. 
    Economic calendar - key events and forecast (times in BST)

    9.30am – UK CPI (August): CPI to rise 2.7% YoY from 2.5%, and 0.3% MoM from 0%. Core CPI to be 2.1% YoY from 1.9%. Markets to watch: GBP crosses
    1.30pm – US housing starts & building permits (August): permits to fall 0.8% MoM and starts to rise 0.3%. Markets to watch: US indices, USD crosses
    3.30pm – US EIA crude inventories (w/e 14 September): stockpiles forecast to fall by 1.2 million barrels, from a 5.3 million barrels drop a week earlier. Markets to watch: WTI, Brent
    Source: Daily FX Economic Calendar
    Corporate News, Upgrades and Downgrades
    Stagecoach said that it has made a good start to its financial year, with forecasts unchanged despite a mixed performance, as revenue weakened in North America but UK rail revenue rose.   Kingfisher said that underlying pre-tax profit fell 14.8% to £375 million for the first half, while first-half gross margin fell 40 basis points. The firm said it remained on track to hit strategic milestones  NEX will pay $50 million to settle claims in the US relating to interest rate benchmark manipulation.   BAT upgraded to hold at DZ Bank
    CNP Assurances upgraded to hold at HSBC
    Commerzbank upgraded to outperform at RBC
    Concentric upgraded to buy at SEB Equities
    Castellum downgraded to sell at DNB Markets
    Coloplast downgraded to hold at ABG
    Credit Agricole cut to neutral at Mediobanca
    Fabege downgraded to sell at DNB Markets
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    Information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary. 
  15. JamesIG
    Whilst the Tokyo markets are on holiday, most other Asian equity markets slip on reports that Washington are continuing their tariff roll outs with a focus once more on Chinese imports. Thin liquidity due to the closed Japanese market didn't help, however moves in currencies seem minor. Dollar steady against a basket of major currencies, whilst gold nudges up. Oil prices have generally eased as the trade war row potentially distorts the demand outlook. The cryptocurrency market is seeing mixed signals as the total market cap holds a strong position over the weekend. Tim Draper, Silicon Valley venture capitalist, has predicted an $80 trillion market cap in the next 15 years, whilst others point to stronger arguments in favor of an ETF market.  Asian overnight: A largely bearish start to the week has seen Chinese and Hong Kong stocks trading sharply lower, with the Australian ASX 200 pushing back in the opposite direction in the absence of Japanese markets whom are on a national holiday. Weather related crises throughout the world have been wreaking havoc on a number of countries, and the landfall of Typhoon Mangkhut on Hong Kong and Chinese land has dented confidence in the region. Damage to the Macau area meant that we saw a sharp decline in casino stocks. Meanwhile, news that China could actually reject the latest trade talk proposals given the likely imposition of tariffs on another $200bn of goods, risk sentiment as a whole isn’t great in the region.
    UK, US and Europe: Looking ahead, we have a day with precious few hugely notable releases, with the eurozone final CPI grabbing the headlines in the morning. For the afternoon, look out for the US empire state manufacturing survey, as we start the week off in a somewhat slow fashion.
    South Africa: Weaker US Index Futures and Asian equity markets this morning are suggestive of a slightly softer start for the JSE All Share Index. The rand along with its emerging market currency peers has softened against the dollar, while metal prices are also trading lower this morning. BHP Billiton is 0.66% lower in Australia suggestive of a weaker start today for locally listed diversified miners. Tencent Holdings is down 2.55% in Asia, suggestive of a softer start for major holding company Naspers.  
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    10am – eurozone inflation (August): forecast to rise 0.2% MoM from -0.3%. Markets to watch: EUR crosses
    1.30pm – US NY Empire State mfg index (September): index to fall to 23.6 from 25.6. Markets to watch: US indices, USD crosses
    Corporate News, Upgrades and Downgrades
    Prudential said that it expects its demerged UK investments business, M&G Prudential, to hold around £3.5 billion of subordinated debt.  Sirius Minerals has signed a take-or-pay supply agreement with Brazilian firm Cibrafertil, for the supply and resale of potash into Brazil and other countries.  Dairy Crest expects first half profits and revenue to be ahead of last year, due to a strong performance from its Clover and Cathedral City brands.   Boohoo has appointed Primark’s chief operating officer John Lyttle as its new CEO.  Immofinanz Upgraded to Hold at Baader Helvea
    Concentric Upgraded to Buy at Kepler Cheuvreux
    Prysmian Downgraded to Neutral at Goldman
    Hays Downgraded to Hold at HSBC
    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. 
  16. JamesIG
    Mark Carney will stay on as the BoE (Bank of England) governor until the end of January 2020 to help the UK through any Brexit turbulence. Unilever laid out plans for it's December listing as a new Dutch entity, initiated originally due to Brexit risks. China is set to request the World Trade Organization (WTO) to hit the US with good duties. Dollar slips. Oil prices have risen following a report that the US crude inventories are set to decline. Whilst top oil producer Russia warns of a fragile global oil market, sanctions on Iran are expected to tighten supply. Asian overnight: Trade war concerns continue to loom over Asian markets, with the Hang Seng providing the one outlier within a wider bearish story for overnight indices. Chinese stocks suffered in particular, as the two sides refuse to back down amid claims of further impending sanctions. Oil prices managed to push higher, as Hurricane Florence continues to bear down upon the East coast. Meanwhile, in Australia we saw a further deterioration in the Westpac Consumer Sentiment survey, sending AUDUSD lower yet again. Global markets are looking a little healthier this morning with US Index Futures extending overnight gains in US equity markets.
    UK, US and Europe: Looking ahead, crude inventories will ensure that WTI and Brent remain at the forefront of the investor mindset. However, apart from the US PPI inflation figure, we are looking at a relatively quiet day for the European and US session calendars. Keep an eye out for an appearance from Fed member Brainard later in the day. 
    South Africa: The Jse Allshare Index is in turn expected to trade slightly firmer on open. The dollar has recouped some of yesterday's losses which see's precious metal prices trading slightly lower this morning. The trade war narrative continues to weigh on base metal prices which were under significant pressure yesterday, although they are posting a marginal recovery this morning. Tencent Holdings is trading 0.45% higher in Asia, suggestive of a positive start for major holding company Naspers. BHP Billiton is trading 0.61% lower in Australia this morning suggestive of a softer start for local diversified resource counters. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    1.30pm – US PPI (August): producer prices to rise 0.2% MoM from 0%, and core PPI to rise 0.2% from 0.1%. Market to watch: USD crosses
    3.30pm – US EIA crude inventories (w/e 7 September): stockpiles expected to fall by 3.4 million barrels from a 4.3 million drop a week earlier. Markets to watch: Brent, WTI
    Corporate News, Upgrades and Downgrades
    SSE has issued a profit warning, saying that adjusted operating profit for the first half will be down 50% compared to a year earlier, due to warmer weather and higher prices that have hit demand.  Sports Direct said it continued to trade in line with expectations, with underlying EBITDA to rise between 5% and 15%, excluding the acquisition of House of Fraser.  Clover Industries FY18 results showed normalised headline earnings earnings per share to have increased by 224.7%. LSE Upgraded to Buy at AlphaValue
    Taylor Wimpey Upgraded to Overweight at Barclays
    Anglo American Upgraded to Buy at HSBC
    Gestamp Upgraded to Overweight at JPMorgan
    Moody's has placed MTN on review for downgrade 
    Telefonica Downgraded to Underweight at JPMorgan
    Crest Nicholson Cut to Equal-weight at Barclays
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    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. 
  17. JamesIG
    GBP rallies on Brexit talks and a hope for a deal before the year is out. Whilst there seems to be a break in tariff hostilities, it seen by most as only temporary. A softer yen helped support Japan's Nikkei. Asian overnight: Chinese and Hong Kong stocks were the two weak spots in a mixed overnight session, with strong gains for Japanese and Australian markets. The expected imposition of a whole raft of new US tariffs on Chinese goods has brought about further pressure on businesses within the region, with Trump seeking to target the vast majority of Chinese imports into the US. Much of the sentiment has been bearish of late, as the gains in Japan and Australia are largely a break from the norm, as talk of fresh US tax reforms help improve the short-term outlook.
    UK, US and Europe: Looking ahead, the UK remains in focus following a day of data yesterday. This morning sees the UK jobs report released, with markets keeping a particularly close eye on the average earnings figure given the impact on inflation expectations. While we see precious few notable releases from the US today, the eurozone also comes into focus alongside the UK, with German ZEW economic sentiment, and eurozone employment change worth watching out for.
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9.30am – UK employment data: claimant count to fall by 6200 in August, from a rise of 6200 a month earlier. Unemployment rate to rise to 4.2% for July from 4%, while July average earnings to rise 2.5%, from a June rise of 2.4%. Markets to watch: GBP crosses
    10am – German ZEW index (September): index to rise to -10.4 from -13.7. Market to watch: EUR crosses
    Corporate News, Upgrades and Downgrades
    Ashtead said that it expected full-year results to be ahead of forecasts, as underlying earnings for the quarter to 31 July rose 20% to £503.7 million. A weaker pound has driven this improved performance.  Anglo American reported a fall in De Beers diamond sales, which fell to $505 million in the seventh cycle of 2018 compared to $533 million for the sixth cycle of 2017.  Koenig & Bauer Upgraded to Buy at HSBC
    Kion Upgraded to Buy at HSBC
    Ubisoft Upgraded to Overweight at JPMorgan
    J D Wetherspoon Upgraded to Buy at Berenberg
    Galp Downgraded to Neutral at JPMorgan
    Heineken Downgraded to Sell at Berenberg
    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. 
  18. JamesIG
    Asian stocks have slumped to a 14 month low on the back of China worries. USD edges higher as trade tensions keep markets on edge, whilst oil rises as new production in US drilling stalls. Slightly higher dollar causes gold to fall, along with rate hike views and trade war worries. Asian overnight: Fresh tariff concerns hit Asian markets overnight, with Apple suppliers particularly hard hit thanks to the US president’s tweets regarding the tech giant moving production to the US. Chinese stocks were lower, while Australia was broadly flat and Japan managed a small rise. Equities rebounded in the US after a better jobs report, with strength in wages particularly encouraging for US consumer spending.
    UK, US and Europe: UK trade data is the main event of the morning, while a busier week for retailers kicks off with numbers from Associated British Foods. Expect plenty of focus on Sweden after an indecisive election result there, with the incumbent centre-left government likely to spend the next two weeks trying to form a coalition. 
    South Africa: Global markets are trading mixed this morning with US Index Futures trading marginally higher, while most Asian markets (excluding Japan) are trading lower this morning. The Jse Allshare Index is expected to trade flat to marginally lower om open. The dollar continues to trade firmer and in turn we see commodity prices under marginal pressure this morning. Tencent Holdings is down 0.76% in Asia suggestive of a similar start for major holding company Naspers. BHP Billiton is down 0.32% in Australia suggestive of a softer start for locally listed resource counters. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9.30am – UK trade balance (July), GDP (July):trade deficit forecast to widen to £2.3 billion from £1.8 billion. GDP to rise 0.1% MoM. Market to watch: GBP crosses
    Corporate News, Upgrades and Downgrades
    AVI Ltd FY18 results showed headline earnings to have increased by 7% from the prior year. Afrox Ltd Interim results showed diluted core headline earnings per share to have increased by 11.5% from the previous year's interim period. Associated British Foods said that its full-year outlook was unchanged, as Primark profits offset lower sugar prices. Sales were down 2% like-for-like at Primark for the year to 15 September.  RPC Group has said that it is in discussions regarding a sale of the company with Apollo and Bain Capital. Aurubis Upgraded to Neutral at Goldman
    Rio Tinto Upgraded to Overweight at JPMorgan
    Norsk Hydro Upgraded to Overweight at JPMorgan
    Nornickel GDRs Upgraded to Overweight at JPMorgan
    Danske Bank Cut to Hold at Kepler Cheuvreux
    Scor 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. 
  19. JamesIG
    The Asian market index futures boards are seeing a sea of red on the back of continued EM anxieties. Dollar seeing pressure as European peers are bid up. Tesla stock slips as investor worries deepen, whilst the Tesla bond hits a record low. Uber on track for an IPO in 2019, however there are no plans to sell it's tech unit according to CEO. Goldman have dropped bitcoin trading plans for now according to reports. Crypto space crashes.  Gold seeing an increase in physical demand, whilst also helped by dollar weakness. Asian overnight: Emerging market concerns continued to weigh on markets overnight, while the bruising handed out to US tech stocks also bore down on bullish sentiment. Tokyo, Hong Kong and Australia all fell, but there was one bright spot as the CSI 300 rose 0.4%. Keep an eye on UK utilities as Ofgem proposes an energy price cap that is the biggest intervention in the UK energy market since privatisation in the 1980s.
    UK, US and Europe: US ADP numbers (delayed by a day due to the Labor Day holiday) and the ISM non-manufacturing number will be the main events today, ahead of non-farm payrolls tomorrow. Emerging market jitters will be watched closely, as will the ongoing strength in the US dollar.
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    1.15pm – US ADP report (August): 187K jobs expected to have been created, from 219K a month earlier. Markets to watch: US indices, USD crosses
    3pm – US ISM non-mfg PMI (August): forecast to rise to 56 from 55.7. Markets to watch: US indices, USD crosses
    4pm – US EIA crude inventories: forecast to rise to -0.88M from -2.6M. Markets to watch: WTI and Brent
    Corporate News, Upgrades and Downgrades
    Dixons Carphone reported flat like-for-like revenues in Q1, hit by difficulties in mobile phones, although consumer electronics were boosted by World Cup demand. Full-year pre-tax profit guidance was maintained at £300 million.   McCarthy & Stone has reduced its full-year operating profit forecast, due to weaker consumer spending and economic uncertainty. The firm now expects full year operating profit of £65-73 million, from the previous estimate of £65-80 million.  Melrose said that it suffered an operating loss of £256 million for the first half, down from a profit of £58 million. Trading for the second half so far remains in line with expectations.  BNP Paribas Upgraded to Hold at Berenberg
    KAZ Minerals Upgraded to Equal-weight at Morgan Stanley
    Enel Upgraded to Buy at Goldman
    Scor Downgraded to Hold at SocGen
    Bodycote Downgraded to Hold at Liberum
    IMI Downgraded to Sell at Liberum
    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. 
  20. JamesIG
    Stocks have fallen whilst the dollar remains effected on trade tensions and tariff wars. The AUD has given up gains on GDP data. Despite being the most shorted stock on Wall Street (even ahead of Tesla), Amazon pipped the $1 trillion valuation briefly yesterday as it surpassed the $2,050.27 a share requirement. Its expected that there will be no change in the FTSE 100 for the first time in 12 years today with no individual constituents being upgraded or downgraded. The British construction sector slowed in August as both civil engineering firms and house builders held back from projects. With a reading of 52.9 the IHS Markit PMI figure still shows the sector is growing, but it was much lower than the 55 expected by economists. On Tuesday Mercedes showed how aggressively it was gunning for the top spot in upscale battery car market currently dominated by Tesla as it showcased it's first fully electric car, the EQC. Oil has pulled back over 3% from the highs of yesterday after reports that the impact of a tropical storm in the US Gulf coast won't have as much of an impact as initially expected. Asian overnight: An overwhelmingly bearish session overnight has seen substantial losses throughout Hong Kong (-2%), Chinese (-1%), and Australian (-1%) markets. Much of this pessimism can be attributed to the ongoing fears over US trade relations with Canada and China. With talks between the US and Canada set to resume today, there is little optimism that we will see them reach a deal. On economic front, a surprise boost for the Australian dollar came amid a significant beat on the Q2 GDP figure. An upward revision to the Q1 figure also helped boost sentiment, reflecting an economic outperformance despite ongoing trade fears.
    UK, US and Europe: Looking ahead, the UK services PMI is going to provide the one dominant economic reading from the European session. Coming off the back of two poor readings from the construction and manufacturing PMI surveys, today’s release represents the big one for the pound. The afternoon brings both the Canadian and US trade balance figures into view, at a time where the two sides continue to attempt to put together some form of renewed NAFTA deal. Canada remains in view a little later, with the release of the BoC rate decision expected to bring no change from the committee.
    South Africa: The Jse AllShare index looks set to trade weaker this morning as poor economic growth reported adds further negative sentiment to what is risk off global market environment today. Emerging market fears continue to stem from Turkey, Argentina, China and to a lessor extent South Africa at present. The dollar has strengthened further to put pressure on commodity prices, particularly that of precious metals. Tencent Holdings is trading 3.6% lower in Asia, which should see major holding company Naspers following suite. BHP Billiton is down 2.66% in Australia, perhaps a precursor for what to expect from locally listed diversified resource counters this morning. 
    Economic calendar - key events and forecast (times in BST)

    Source: Daily FX Economic Calendar
    9.30 – UK services PMI (August): forecast to rise to 54.7 from 53.5. Market to watch: GBP crosses
    1.30pm – US trade balance (July): deficit to widen to $46.7 billion from $46.3 billion. Market to watch: USD crosses
    1.30pm – Canada trade balance (July): deficit to widen to C$2.3 billion from C$0.63 billion. Market to watch: CAD crosses
    3pm – BoC rate decision: no change expected. Market to watch: CAD crosses
    Corporate News, Upgrades and Downgrades
    Barratt Developments reported a 9.2% rise in pre-tax profits for the year, to a record £835.5 million, while gross margins and the number of new homes completed both rose. It remains confident in the outlook for the housing market.  William Hill has formed a partnership with Nevada firm Eldorado Resorts, with the latter becoming William Hill’s exclusive partner in the provision of digital and land-based sports betting. The partnership will cover 13 states where sports betting is legal or betting bills have been tabled.  Berkeley Group said that prices and demand remained robust in London and the south-east between May and August, but that the market in London remained constricted by high transaction costs and economic uncertainty.  Vodafone Upgraded to Outperform at Bernstein
    Antofagasta Raised to Equal-weight at Morgan Stanley
    BP Upgraded to Overweight at Morgan Stanley
    Zumtobel Upgraded to Hold at Kepler Cheuvreux
    Intrum Downgraded to Neutral at JPMorgan
    Tele2 Downgraded to Underperform at RBC
    Vonovia Downgraded to Hold at Nord/LB
    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
    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.

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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.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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