» » UK Market Update Tues 09 April 19: Pullbacks as the US Threatens European Trade Tariffs

UK Market Update Tues 09 April 19: Pullbacks as the US Threatens European Trade Tariffs

posted in: Market Narrative | 0

UK markets rallied to fresh 2019 highs today before selling off later in the trading session. A Trump Twitter tirade on Trade Tariffs for Europe may well have caused some jitters but equally the pullbacks are marginal and in keeping with a little profit taking. The UKX and NMX closed down around 0.4% while the MCIX was down 0.5% while AIM All-Share rallied 0.2%. Crude gave back 0.5% but remains close to the $71 mark while GBP was almost unchanged against USD on the day. Tomorrow may well see Brexit delayed by several months which should be GBP positive.

DEB entered administration bond holders took control and shares were suspended: 7DIG dropped almost 70% after warning of a rights issue.

In the FTSE250, AMGO, SXX and VVO all rose over 5% on the day while 888 and MAS dropped 4%.

In market sentiment, VIX scores across the board remain low with the CBOE VIX around 13.5, VFTSE at 11.7 and VSTOXX at 14.5

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