April 15th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened lower this morning, following their Asian counterparts, as weaker-than-expected Chinese economic data sparked concerns over the pace of global economic growth. Earlier, Rightmove reported that, on an annual basis, the house price index in the UK rose 0.4% in April, […]
April 10th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European share markets are broadly higher, helped by a surprise jump in French industrial production data, helping the euro reach a fresh one-month high versus the dollar. A strong finish in Asian markets overnight also provides support for European indices as investors welcomed news […]
April 9th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, as US earnings season kicked off to a good start after economic bellwether, Alcoa, reported annual growth in its first quarter profit which topped market estimates. Traders were also encouraged by a weakening of the Chinese annual […]
April 4th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Cautious start for European stock markets this morning with investors reluctant from building risk exposure ahead of central bank meetings from the BOE and ECB together with PMI services data from the region before that. The BOE are expected to keep policies on hold […]
April 3rd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened lower this morning, as political stalemate refused to abate in Italy. Risk appetite also retreated after Verizon Communications denied intention to merge with or make an offer for Vodafone Group, to which investors had responded positively in the previous session. […]
March 21st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened slightly lower this morning, as Cypriot politicians struggled to find ways to secure the €10 billion bailout offered by its European partners. However, losses were limited, following a pick-up in Chinese factory activity and a pledge by the US Federal […]
March 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened sharply lower this morning, as investors reacted negatively to a surprise bailout agreement for Cyprus which forced depositors in Cypriot banks to pay a one-time tax on their savings. Meanwhile, Bank of England policy maker Ian McCafferty, in an interview […]
March 14th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened slightly lower this morning, as investors eyed the outcome of the EU summit in Brussels where a multibillion-euro bailout for Cyprus would be high on the agenda. However, losses were kept in check as investors speculated that another batch of […]
March 14th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened higher this morning, following upbeat US retail sales and as investors await fresh cues ahead of a two-day EU summit in Brussels. Meanwhile, the Bank of England published its first quarterly bulletin of 2013, including a chapter on how its […]
European stock pared session losses though the FTSE100 in London fell on sliding mining stocks hurt by softer commodity prices. In Europe, Italy’s bond yields rose after a poor bond auction — the 10-year rose over 10 basis points in reaction while the FTSE MIB in Milan underperformed the wider European stock market. The euro […]
March 12th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European stock markets are again trading on the soft side this morning, awaiting fresh catalysts to offer direction. The DJIA overnight printed fresh all-time highs but Asian markets, particularly Japan, were under pressure. This fed through into a soft European market session with traders […]
March 11th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Soft session for European financial markets with data indicating a slowdown in China last month overshadowed Friday’s solid US jobs report. Additionally, Fitch cut Italy’s credit rating by one-notch to triple-B plus, pressuring Italian bond yields and weighing on the euro. Italy’s 4Q GDP […]
March 7th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European stock markets are steady Thursday, but market participants are holding back from making any bold moves ahead of central bank policy meetings by the Bank of England and European Central Bank later and a Spanish debt auction before those. The DJIA on Wednesday […]
March 6th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European equity markets are pausing to catch their breath following the stunning rally on both sides of the Atlantic which saw the DJIA on Tuesday register a new all-time record high at the closing bell. The DJIA finished up 0.89% at its record close […]
March 5th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Regional markets are putting on a decent performance this morning, helped by PMI services data from the UK and to a lesser extent the euro zone and a host of solid corporate news. UK PMI services, unlike manufacturing, surprised on the upside, to 51.8 […]
March 4th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European stock markets are back under the cosh Monday, with traders unwinding positions on political uncertainty in Italy and the lack of progress by US lawmakers to tackle the sequester which kicked off on Friday last week. Italian leaders are still divided over how […]
March 1st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Weak Chinese PMIs indicating a slowdown in the world’s second largest economy together with the US sequesters kicking off as US lawmakers failed to pass two bills on Thursday. European stock markets are feeling the heat as a result, pressured further by softness in […]
February 28th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Stock markets are pouring on modest gains Thursday after central bankers Ben Bernanke, head of the Fed and Mario Draghi, head of the ECB, both defended their easing policies, lending support to risk-appetite overnight on Wall Street and in Asia. Bernanke at his second […]
February 27th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Fed Chairman Ben Bernanke defending his monetary stimulus measures by talking up QE helped sentiment recover a tad overnight, providing Asian markets support. In Europe, traders are also taking heart in Bernanke’s accommodative remarks but moves to the upside are likely to be limited […]
February 26th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Share markets and bank stocks in Europe are sliding as investor sentiment is rattled by the political impasse in the Italian elections. The centre-left coalition led by Bersani is to take control of the lower house, winning in a tight race against Berlusconi’s coalition. […]
February 25th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European financial markets are on the up Monday morning thanks to an upbeat session in Asia overnight where markets extended last week’s advance. Despite China’s HSBC PMIs showing a sharp deceleration [due to slowing global demand and the Lunar NY holiday], Asian markets were […]
February 22nd, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Stocks are rebounding in Friday’s session after registering bulky losses in the previous session amid fears the Fed will slow down and/or abruptly end QE and grim euro zone composite PMIs. Stocks dropped sharply on both sides of the Atlantic, the euro slid against […]
February 21st, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European shares markets slide early Thursday, extending previous session weakness following hawkish FOMC minutes which indicate that some members are calling for the pace of QE to be scaled back. The Fed did offer an upbeat view of the US economy but traders pressed […]
February 20th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist After having the strongest day of the year so far, European stock markets are in consolidation mode ahead of a deluge of economic data and minutes from the BOE first and the Federal Reserve after the European market close. European stocks advanced Tuesday, propped […]
February 19th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European share markets are softer again this morning with traders remaining on hold ahead of German ZEW data. With US markets closed for a public holiday on Monday and Asian markets overnight trading in a mixed manner, European stock indices have little cues for […]
February 18th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European markets have opened lower this morning, as traders preferred to wait on sidelines in the wake of thin trading on account of the US President’s Day holiday today. Meanwhile, a survey by Markit Economics revealed that finances of British households remained squeezed in […]
February 14th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Regional share markets are broadly flat again Thursday morning, with poor German, French and Italian 4Q GDP data curbing enthusiasm for gains. A strong session in Asian markets overnight offers a degree of support to prices with Japan’s national index rebounding 0.5% as the […]
February 13th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist European stock markets are largely mixed Wednesday, staying in a tight range as traders tread carefully ahead of the G-20 meeting which kicks off on Friday in Moscow. A number of high profile economic releases also keeps the bulls and bears at bay, with […]
February 12th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist Soft start to Tuesday’s session for European stock markets and the euro together with commodity prices. A weak finish on Wall Street overnight with the S&P500 falling after a six-week rally adds pressure on European price-action this morning. Several Asian markets remained close for […]
February 8th, 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist A late rebound on Wall Street Thursday and firmer session in Asian markets overnight thanks to upbeat Chinese trade data provides European markets early support Friday. Chinese trade data for January showed monthly exports rose 25% and imports climbed 28.8% from the year prior […]
