Search
EN Down
Language
Hi, user_no_name
Live Chat

FTSE 100 index jumps above 8,300 for fresh high ahead of BoE meeting

 

FTSE 100 Index, Equities Continue to be Risk-On

The FTSE 100 index jumped above 8,300 for a fresh record high in buoyant trade early on Tuesday as London reopened following the holiday. There is something of a catchup trade taking place with stocks in Frankfurt enjoying a strong session on Monday and more modestly higher this morning.

There was a positive session on Wall Street again as the Dow Jones index advanced for a fourth straight day in the wake of the less-hawkish-than-feared Fed and the S&P 500 rose 1%. It’s not all been rosy, but earnings have helped satisfy risk appetite.  

Year-to-date, the S&P 500 is up 8.6% while the FTSE 100 index is up 7.32%.

Choose your points of movement

Сalculate your hypothetical P/L (aggregated cost and charges) if you had opened a trade today.

Market

Shares Search
Shares
Index
Commodity
Bonds
Crypto
ETFs
Currency

Instrument

Search
Clear input
Occidental
Prosus N.V.
Porsche AG
Hermes
CAT
Thermo Fisher
Nikola Corporation
Tilray
Shell plc (LSE)
Skillz Inc
Iberdrola
DeltaAir
CrowdStrike Holdings
Golar LNG
Applied Materials
Snowflake
Royal Bank Canada
Amazon.com
Spotify
Exxon Mobil
CCB (Asia)
McDonald's
Campari
GameStop
Netflix
ON Semiconductor
Costco
Dave & Buster's
Delivery Hero SE
LUCID
Continental
SunPower
Zoom Video Communications
Schlumberger
Virgin Galactic
Upwork Inc.
Cameco
JP Morgan
Fuelcell
Rivian Automotive
XPeng Inc
Wal-Mart Stores
Trade Desk
Blackstone
Vodafone
Aptiv PLC
L'Oreal
Target
Rio Tinto
Sartorius AG
British American Tobacco
Qorvo
ASOS
Cisco Systems
Nel ASA
Arista
Airbus
Apple
Pfizer
AMC Entertainment Holdings
ASML
Hubspot
Teladoc
Starbucks
SMCI
Canopy Growth
Wish.com Inc
Lockheed Martin
ProSiebenSat.1
IAG
AbbVie
Marston's
Baidu
Teleperformance
Norwegian Air Shuttle
Airbus Group SE
HSBC HK
Block
Annaly Capital
Abbott
LVMH
American Express
Novavax
GoPro
Siemens
Total
SIG
Pinterest Inc
Taiwan Semi
Etsy
Amgen
SONY
3D Systems
UPS
Yandex
BlackBerry
Gen Digital Inc
Xiaomi
Quanta Services
Unity Software
NVIDIA
Anglo American
Palantir Technologies Inc
Fresnillo
Deere
Rolls-Royce
Porsche
Uber
Vir Biotechnology
American Airlines
ROBLOX Corp
Macy's
FirstRand
easyJet
DISNEY
Aurora Cannabis Inc
BP
Adidas
Boeing Co
Vonovia
Coca-Cola Co (NYSE)
Home Depot
General Electric
Coinbase Inc
ALIBABA HK
Philip Morris
General Motors
PayPal
UniCredit
II-VI
BASF
Kraft Heinz
Alphabet (Google)
Palo Alto Networks
Evraz
Plug Power
Li Auto
Oracle
Roku Inc
UiPath Inc
Upstart Holdings Inc
F5 Networks
Infinera
Inditex
ZIM Integrated Shipping Services Ltd
Deutsche Bank
Hammerson
IBM
JD.com
Barrick Gold
TUI AG (LSE)
Lemonade
MerckCo USA
Infosys
Invesco Mortgage
Comcast
Santander
Accenture
Anheuser-Busch Inbev
Visa
Mastercard
Ozon
T-Mobile
SAP
Wayfair
Beyond Meat
Kuaishou
CarMax
Tesla
Lyft
Medtronic
Adobe
Morgan Stanley
Workday Inc
Blackrock
Vipshop
Meta (Formerly Facebook)
Linde PLC
Micron
Lululemon
Ceconomy
Chipotle
Gilead
Avacta
Naspers
Bristol Myers
Samsung
The Cheesecake Factory
Glencore plc
British American Tobacco
ChargePoint Holdings Inc
Twilio
Intel
Lloyds
CNOOC
Electrolux
Wells Fargo
Sea
PG&E
Fedex
Citigroup
Peloton Interactive Inc.
eBay
Microsoft
JnJ
Bilibili Inc
Trump Media & Technology Group
AIA
Nasdaq
Air France-KLM
Allianz
Lithium Americas Corp
Procter & Gamble
Qualcomm
AMD
New Oriental
MercadoLibre.com
Mondelez
Lumentum Holdings
Two Harbors Investment aration
AstraZeneca
Norwegian Cruise Line
Unilever
GoHealth
PepsiCo
Barclays
PETROCHINA
Goldman Sachs
Eli Lilly
HSBC
Cellnex
Berkshire Hathaway
Jumia Technologies
HDFC Bank
RTX Corp
Bayer
Bank of America
Chevron
ADT
DoorDash
Marriott
Nike
AT&T
GSX Techedu
Robinhood
Telecom Italia
Deliveroo Holdings
TUI
Freeport McMoRan
Toyota
BioNTech
Airbnb Inc
Alibaba
Verizon
Nio
Eni
Ford
Hanesbrands
Volkswagen
UnitedHealth
Shopify
China Life
Snap
Christian Dior
Conoco Phillips
Lufthansa
Tencent
Moderna Inc
Salesforce.com
Broadcom
Diageo
Toro
Cinemark

Account Type

Direction

Quantity

Amount must be equal or higher than

Amount should be less than

Amount should be a multiple of the minimum lots increment

USD Down
$-

Value

$-

Commission

$-

Spread

-

Leverage

-

Conversion Fee

$-

Required Margin

$-

Overnight Swaps

$-
Start Trading

Past performance is not a reliable indicator of future results.

All positions on instruments denominated in a currency that is different from your account currency, will be subject to a conversion fee at the position exit as well.

 

RBA Leaves Rates Unchanged, This Week’s Focus on Bank of England

The Reserve Bank of Australia left rates unchanged, and its statement continued to say “the Board is not ruling anything in or out” as it raised its inflation forecast for the year.  

Japan’s top currency diplomat Kanda warned on the yen that “when there are excessive fluctuations… the government may have to take appropriate action”. Yes...we saw that last week!  

This week the focus will be on the Bank of England, which needs to decide whether it is time to steer the market towards a cut, which would be the first in four years, or remain more patient.  

 

UK Interest Rate Cuts?

Most think it’s too early to cut UK interest rates this week – August is preferred as the starting date, but the Monetary Policy Committee is not speaking as one. Dave Ramsden, the BoE’s deputy governor, suggested last month that he did not need to see much more evidence of falling inflation to vote for a rate cut.  

He emphasised the “downside risks” to the BoE’s February inflation forecast, which predicted CPI inflation would fall back to 2% before rising later in the year.  Huw Pill, the Bank of England’s chief economist, sounded more hawkish in April, saying that he felt “relatively cautious” about starting rate cuts.  

 

Inflation Finally Being Tamed?

UK inflation is coming down and will be falling back to 2% soon. CPI fell from 3.4 per cent to 3.2 per cent between February and March, whilst core inflation fell to 4.2% from 4.5%, but it’s likely the BoE will want to see the April data before making a decision.  

On the other hand, wage growth at around 6% shows there is still heat in the labour market. Financial markets think the Bank of England will cut by August, but the BoE might signal it’s ready to move in June, in tandem with an expected move by the European Central Bank. A dovish hold is expected.

 

Still Some Concerns

Headline inflation is coming down. As per BoE Deputy Governor Dave Ramsden:

“For me, the balance of domestic risks to the outlook for UK inflation, relative to the February MPR forecasts, is now tilted to the downside, with a scenario where inflation stays close to the 2% target over the whole forecast period at least as likely.”

For the hawks, the stickiness of services inflation is a worry. Chief Economist Huw Pill warned "We still have a reasonable way to go" before he is convinced the 2% target is comfortably in view and therefore "the time for cutting Bank Rate remained some way off".


When considering shares, indices, forex (foreign exchange) and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and could result in capital loss.  

Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.

Latest news

Broadcom stock split set for mid-July after earnings beat

Thursday, 13 June 2024

Indices

Broadcom stock split set for mid-July after earnings beat

Federal Reserve anticipates only one interest rate cut this year

Thursday, 13 June 2024

Indices

Federal Reserve forecasts only one interest rate cut in 2024

Soft May US inflation reading welcome news for Federal Reserve

Wednesday, 12 June 2024

Indices

May’s softer US inflation data keeps Fed cut hopes alive

Macron calls snap election, riles markets

Wednesday, 12 June 2024

Indices

Markets riled up with Macron gamble, France's left tail risk

Live Chat