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Selling Continues as Travel, Leisure Sell-Off: Fear up: Gold Rallying
All of the UK indices sold-off today with the FTSE 100 down -1.6% but staying north of 6700. The FTSE 250 finished deep in the red down 2.5% and looks set to retest the recent low set last week. That said there were a significant number of the bigger components in both indices going ex-div today which will impact the index values.. RIO, BHP, EVR, were all ex-div.
Meanwhile AIM All-Share fared the least worst down just 1%. This was in spite of a very strong up-day in the US yesterday where Mr Market lurched north by 5% only to drunkenly pitch south more that 3% today at pixel. This topsy-turvy price action reflects the deep uncertainties and unknowns associated with the macro economic forecasts and potential impacts of the reduction in economic activity on individual companies and their future earnings. Yesterday's relatively orderly buying of defensives and selling of travel, leisure and entertainment stocks continued to a large degree today.
Gold has continued to shine up another almost 2% to $1666 spot at pixel. This has helped to lift many of the gold miners today with POG, HGM , CEY and
Sentiment Sours
The Fear &Greed index has moved from a value of 19 to 10 reflecting the increase in fear. Meanwhile the VIX, which had dropped to 30, has risen to 39 this evening
FTSE 100 Sectors and Shares at 13.00
FTSE 100 Sectors and Shares at 13.00
FTSE 250 Sectors and Shares at 13.00
US Finishes Strong : Asia in Green: UK Futures Up: Oil Down : 07:30
The US made some big moves tot he upside yesterday evening as market volatility shows it hs upside as well as down. The DOW finished up almost 1200 points putting in a 4.5% move and closing on the highs. Much of the buying was also in the more defensive and dividend paying stocks similar to what we have seen in the UK.
Sentiment has improved slightly over night as the Fear &Greed Index has risen to 15 although the VIX remains elevated at 32 which does reflect the price volatility which the major indices have shown
Pre-market UK Futures are around 0.5% to the good with oil down 1.8% at $52.7
