In early morning trading on Thursday major bourses were in negative territory as pan-European STOXX 600 slips 0.3 percent.
Markets were largely focused on the Brexit events with the drama as British PM Theresa May faced a no-confidence vote which was triggered by opposition leader Jeremy Corbyn. She narrowly won the no-confidence vote by 325 votes to 306 late on Wednesday.
Plan B
PM, Theresa May, in an effort to break the deadlock on the Brexit divorce deal, is urging party leaders to hold cross-party talks. An outline of Plan B will be on Monday, Jan 29, where it is expected that the party will push for an extension past the March 29 deadline of Article 50.
European Stocks Slip
The heightened political events in the U.K. together with the cooling of China’s economy saw the European stocks by Thursday afternoon slipping, with the pan-European STOXX falling 0.3 percent.
The FTSE 100 slipped 0.48% to 6829.40.
The DAX fell 0.30 percent at 10898.57.
The CAC dropped 0.47 percent at 4,788.01.
By Thursday noon, Europe’s banking index fell 1.2 percent after the earnings news from French bank Societe Generale reported negative results for the fourth quarter. Their shares fell over 5 percent and were among the worst performers.
In the UK ITV, British television network shares fell almost 7 percent after Bank of America Merrill Lynch slashed from ‘buy’ to ‘underperform’ their recommendation of stock.
Currencies
• The euro was at $1.1392.
• The Japanese yen gained 0.3 percent to 108.82 per dollar.
• The British pound rose to its strongest in two months up 0.2 percent to $1.2909.
MSCI’s broadest index of Asia-Pacific shares, excluding Japan, climbed 0.2 percent on Thursday.
Bottom Line?
Their innovative and unique social trading platform gives traders the edge because of the ability to automatically copy other leading traders and it is easy to use.
That’s not all …
The platform allows traders to discuss trading strategies and lots more.
eToro offers a free demo account, competitive spreads and is suitable for new and advanced traders.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
This communication is intended for information and educational purposes only and should not be considered investment advice or investment recommendation. Past performance is not an indication of future results.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Crypto investments are risky and highly volatile. Tax may apply. Understand the risks here https://etoro.tw/3PI44nZ
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
