Independent Investor News and Updates - Part 2

Freefalling momentum continues as investors’ pandemic fears intensify

Author: Connor Campbell / In News

With the Dow Jones suffering its greatest ever single session fall overnight, Thursday’s freefalling momentum carried over into Friday morning, leading to a gory start for Europe and pushing the market towards its worst week since the financial crisis.   As the coronavirus inches closer to pandemic levels – Nigeria, Lithuania and New Zealand became the latest nations to report their first cases – and IAG and easyJet only confirming what investors had already suspected with their morning statements, there was nothing to staunch the loss of blood.   Down another 200 points, the FTSE sank below 6600 for the first time since the final days of 2018. A 3.9% decline for the DAX dragged it under 11900, while the CAC’s 3.4% slide left it barely holding on above 5300 – that’s 6-month lows for both indices.   Currently the US open isn’t likely to provide any comfort either. The […]

Coronavirus carnage sparks triple-digit losses across the globe, FTSE at 13-month low

Author: Connor Campbell / In News

Investors were in danger of throwing the baby out with the bathwater on Thursday afternoon, as was the rush to ditch equities.   Just as Wednesday’s US open helped drag Europe higher, today’s 900-point plunge from the Dow Jones sparked an acceleration in the session’s coronavirus carnage. The Dow is now trading at 26050 – astonishingly, around 3400 points off of where it was exactly one week ago. And that’s not a fat finger typo – three thousand four hundred points!   Percentage wise, however, the Dow’s 3.3% decline paled in comparison to the numbers posted by its European peers. The DAX lost 4.2%, sinking to a fresh 4-month-plus low of 12250. The CAC, meanwhile, was down 4.5% and at 5425 for the first time since the end of August 2019.   In terms of lows, the FTSE had all its US and Eurozone cousins beat. Unlike the Dow and […]

Sickly Soup – Including Pence Appointment – Leaves Europe With Serious Fever

Author: Connor Campbell / In News

With the coronavirus death toll approaching 3000, South Korea suffering another swell of cases, financial warnings from the likes of Microsoft, and the launch of an emergency response plan in Australia, it was hard to find even a modicum of comfort on Thursday morning.   The fact Mike Pence – whose policies helped lead to Indiana’s worst outbreak of HIV, not at the height of the crisis, but in 2014/15 – has been put in charge of the US response to the coronavirus was arguably the tipping point for investors.   It’s an unserious choice by a President who, on Wednesday night, seemed too blasé about the issue for the market’s liking – especially since former Fed chair Janet Yellen speculated that a surge of cases in America could force the country into a recession.   This sickly soup gave Europe a serious fever after the bell. The FTSE, which […]

White Knight Dow Jones Rescues FTSE From Intraday Lows With Coronavirus Rebound

Author: Connor Campbell / In News

The Dow Jones rode in like something of a white knight on Wednesday afternoon, rescuing Europe from its intraday lows.   The Dow added 350 points after the bell, a rebound likely born of nothing more than bargain-hunting investors sweeping in at near-4 month lows. That pushed the index above 27400 – for reference, around 1,100 points shy of its mid-February all-time highs.   While the US gains weren’t inspiring enough to spark an actual rebound in Europe, it did give the FTSE et al a life raft to cling onto. The DAX was still down 0.4% at 12750, but compare that to its mid-morning nadir of 12370 and you get a taste of what the Wall Street open did for the region.   The UK index, meanwhile, managed to tooth and nail claw its way back above 7000 as it trimmed its losses to just 0.1%. In a less […]

ETFinance Review and Investigation

Author: trader / In News

A new broker’s in town… this time it’s ETFinance. Having searched online we decided to share our findings. All the information is in public domain so please feel free to double check, if you wish. So Who Are ETFinance? ETFinance is a trading name of MAGNUM FX (CYPRUS) LTD registration number HE 360548 authorized and regulated by the Cyprus Securities and Exchange Commission (the “”CySEC””) under license number 359/18. As we can see from The Open Database Of The Corporate World, MAGNUM FX (CYPRUS) LTD was incorporated on 28 September 2016 and domain was registered on 29 July 2018 with GoDaddy. Some ETFinance Reviews from Internet New broker, so we decided to spend a bit of time and see what we could find. In no particular order (reviews play a big part if you want to find the best CFD broker or forex account if it comes to it): […]

UK General Election – Broker Update

Author: David Gibson / In News

The UK general election on Thursday 12 December may lead to uncertainty in the markets. As a result, spread betting, CFD and forex brokers may be required temporarily to increase some of their margin requirements around the election date. What does this mean? Uncertainty around the election result, and its potential impact on the Brexit process, could cause high market volatility, particularly in relation to GBP crosses and the UK 100 index. This could mean that some brokers have to increase their margin requirements for professional clients for a short period. Any GBP-related positions you hold could therefore be subject to larger margins. Spreads could also be wider than normal during this period. Is this permanent? No. All margin rates and spreads to return to normal once the election result is known. This will depend on the evolving political situation and its influence on the market. What do you need […]

Poll Pushes Sterling Higher as Tories Looking at 80-seat Majority

Author: Phil Evans / In News

Shaken last Friday by an appalling pair of PMIs, sterling got its mojo back on Monday after a monthly poll of polls put the Tories on course for an 80 seat majority. Though you’d think any kind of Brexit would spook the pound, at this point it just wants it over and done with. That means the ostensible clarity of the Conservative position – alongside the general right-leaning tendencies of the market – is immensely appealing to sterling, hence the big gains seen following the latest projections. Currently Spreadex has Conservative seats at 345-535, with Labour at 201-209, the SNP at 44-47 and the Lib Dems at 24-28. Against the dollar it rose 0.6%, sending cable back above $1.2905, while against the euro it climbed the same amount, leaving it just short of €1.171. Normally such a surge from sterling would give the FTSE an immediate migraine. However, the strength […]

Importance Of A Trading Plan To Succeed In Forex Business

Author: Phil Evans / In News

Just like the advice given to a beginner in any business, failing to plan is seen as the basis for planning to fail. Following a written plan definitely helps a trader to succeed in forex business just like any other. A written plan may not ensure guarantee in the forex business, but however it puts the trader in a position to be able to correct course in case of wrong moves or incorrect techniques that are deployed. Having a forex trading plan in place keeps the trader aware about what works and what does not. A forex trading plan helps the trader to develop a correct mindset which is the basis for long-term success in such an endeavor. Given below are some points that can be kept in mind while forming a forex trading plan and the advantages of following such a plan. Forex Trading Plan – How To Make […]

Week Ahead: Wall Street is Rocking after Some Hefty Falls

Author: Phil Evans / In News

Wall Street is rocking after some hefty falls for the major indices, but there could be succour in the form of earnings as the Q1 season gets underway on Friday. Earnings Season Wall Street is rocking after some hefty falls for the major indices, but there could be succour in the form of earnings as the Q1 season gets underway on Friday. Citigroup and Wells Fargo are the first big banks to report their first quarter results. The question facing investors is whether a strong earnings season can halt the stock market slide. While equities have been hit by worries about a trade war and various tech sector trouble, there is yet hope that Q1 earnings will deliver a fillip as the impact of tax effects and stronger economic growth are felt on bottom lines. Investors may also be optimistic that corporate tax cuts lead to more share buybacks and […]

Week Ahead: Big Economic Releases

Author: Phil Evans / In News

Spotify IPO, Eurozone inflation and US nonfarm payrolls are the big events for markets in the coming days. Spotify IPO The unconventional initial public offering (IPO) of Swedish streaming service Spotify (SPOT) on April 3rd is the headline event this week. Unlike traditional market debuts, the company is using a direct listing that sidesteps the usual investor roadshows and team of investment bankers underwriting the offering. It is expected to be the biggest launch since the Snap IPO last year and comes at a time when the number of tech IPOs as a proportion of total US listings is at a two-decade low. Many hope that a successful IPO could encourage other unicorns like Airbnb and Uber to list publicly, having so far gone down the private funding route. Ahead of the IPO, management delivered a bullish assessment of future growth. Guidance revealed last week shows they expect sales to […]