Pre Market 07:15 Update
Pre market FTSE 100 futures point to an open down 35 points at 5820 with the US and Germany set to open down -1 to 1.5% as Covid fears in Europe seem likely to impact risk appetite. The VIX starts the week around 28 while the CNN F&G Index points to a relatively greedy level of 66. Gold has slid below the $1900 level yet again showing continuing weakness following its recent $2000 level peak
Friday's close brought a mixed week to an end in the UK where the mega cap index gained 0.5% while the mid cap 250 was up 1.7% and small cap AIM advanced 1.2%. The FTSE 250 closed above its 200MA on Friday for the first time since before the Covid Crash of March 20 though significantly lower than post Covid highs seen in June. Earnings this week in the face of a worsening Covid second wave will decide how well the indices fare while central banks around the world are slated to update on their policies and outlooks with the BoC Wed while the BoJ and ECB update on Thurs.
Our clocks will remain out of synch with the US until their daylight savings kick-in next weekend so watch out for the earlier US opening times of 13:30 this week.
The week ahead sees a slew of earnings in the UK and the US including BP, NXT, RDSB, HSBC : see earnings calendar for full details. In the US, the biggest earnings week kicks off this week with the peak on Thursday featuring, FB, AAPL, GOOG
as at 07:15, 15 companies have reported TUs and earnings
