Friday, January 27, 2023
Forex Broker News
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

    Crypto Dock Review

    City Index Review

    Forex.com Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

    Crypto Dock Review

    City Index Review

    Forex.com Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
Forex Broker News
No Result
View All Result
Home News Sources Leaprate

Daily Market News: Gold hits record high, Bitcoin breaks $10,000

[item_description],

New quarantine rules threaten British airlines

London-listed shares fell harder than their US counterparts last week, with the FTSE 100 ending 2.7% lower after sinking 1.4% on Friday. M&G and Vodafone were the two biggest losers on Friday, closing out the day 6% and 5.2% lower respectively. In addition to the factors that hurt US stocks over the course of the week, the FTSE 100 also had to contend with the value of the pound, which made gains versus the dollar over the course of the week — lowering the value of British companies’ overseas earnings. In headlines over the weekend, it was reported that Rolls-Royce is exploring an emergency sale of its Eurofighter jet division, with a number of major private equity firms interested in the billion dollar unit.

British airlines suffered a blow over the weekend, as the government announced a new 14-day quarantine for travellers coming into the UK from Spain. In response, tour operator Tui cancelled all holidays to mainland Spain until August 9, while British Airways said that the decision throws “thousands of Britons’ travel plans into chaos” and “cannot fail to have an impact on an already troubled aviation industry.”

  • FTSE 100: -1.4% Friday, -18.8% YTD (-2.7% last week)
  • FTSE 250: -1.3% Friday, -21.1% YTD (-0.5% last week)

What to watch

NXP Semiconductors: While many chip stocks have soared this year — Nvidia is up more than 70% — NXP is down 9%. The firm reports its latest quarterly earnings figures today with an analyst call to follow tomorrow. NXP is known for supplying chips to the automotive industry, for purposes such as keyless entry and car radios. Vehicle sales have been decimated by the coronavirus pandemic, and that has had a knock-on impact on the firm’s prospects. Wall Street analysts lean towards a buy rating on the stock, but their expectations for the company’s Q2 profit have fallen by around 20% over the past three months.

Principal Financial: Another US-listed name that delivers earnings figures on Monday, followed by an analyst call on Tuesday, is insurer and investment firm Principal Financial. Like many financial stocks, Principal has been beaten up this year, with its share price still down by close to 20% year-to-date. However, the stock has surged by 49.3% over the past three months and still offers a dividend yield of 5% despite the share price recovery. Security of the dividend will likely be probed by analysts on the earnings call, as will the impact of close to zero interest rates on the firm’s margins.

Reckitt Benckiser: Investors will be hoping that Reckitt can emulate fellow Anglo-Dutch consumer goods giant Unilever in its own quarterly earnings report on Tuesday. Last week, Unilever gained 6.9% after delivering its earnings numbers, propelling it to become the largest FTSE stock. Reckitt’s share price has gained 25.8% year-to-date. A month ago, UBS put a sell rating on Unilever shares and upgraded Reckitt to a buy rating, citing unsustainable drivers of growth for the former and a “compelling turnaround story” for the latter.

ADVERTISEMENT

Why have tech stocks paused?

The surge of the tech giants has been one of the defining features of the stock market since the pandemic began. The logic is clear: firms that deliver services digitally, or can enable workers to do their jobs remotely, stand to benefit from a crisis that pushes consumers and companies towards living virtually. Interestingly, the tech stock rally has paused just as Covid-19 cases in the US soar, which logic would dictate will be positive for those companies and once again accelerate trends they are on the right side of. The answer behind why tech stocks have taken pause appears to be a relatively simple one; investors have hit a wall in terms of the valuations they are comfortable with. Amazon’s share price is up by more than 60% year-to-date, while Netflix has added close to 50%.

Crypto corner: Bitcoin soars to highest level since Feb

Bitcoin extended gains seen over the weekend to break through the $10,000 level this morning, with the largest cryptoasset trading as high as $10,314 per coin in the early hours.

The surge comes amid a weakening of the US dollar against a basket of global currencies. The dollar index, which measures the currency against a group of trading peers, fell 0.5% to its lowest level since June 2018 as investors fretted about the true health of the US economy.

It is the first time since June Bitcoin has traded above $10,000 and is just off the peak in February when it touched $10,367.


All data, figures & charts are valid as of 27/07/2020. All trading carries risk. Only risk capital you can afford to lose.  

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

The post Daily Market News: Gold hits record high, Bitcoin breaks $10,000 appeared first on LeapRate.

,

Share197Tweet123ShareSend

Related Posts

Leaprate

Nuvei announces brand merger with SafeCharge

December 7, 2022
Leaprate

Playtech takes measures to maximize liquidity

December 7, 2022
Leaprate

Avelacom launches connectivity, market data and infrastructure solutions on Brazil’s stock exchange

December 6, 2022
Leaprate

Daily market commentary: Gold hits new record high (yet again)

December 6, 2022
Leaprate

NYMEX and two former employees to pay $4 million for disclosing trading information

December 6, 2022
Leaprate

TradingScreen’s MARKTS and OSL partner to open up Asia’s digital asset markets to global investors

December 6, 2022

Select one of the Best Forex Brokers for your Trading  |  Read the Reviews

VastWealth Review

Stockscale Review

Fibinex.io Review

Homefx-Plus Review

StockHome.io Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. forexbroker.news is an affiliated partner with various Forex brokers and may be compensated for referred Forex traders.

Risk Disclosure: Forexbroker.news assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. Forexbroker.news remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, Forexbroker.news assumes no responsibility for any trading losses you might incur as a result of using this data.You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBroker.News has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBroker.News, nor shall it bias our reviews, analysis, and opinions.

  • Privacy Policy
  • Contact US
  • Terms of use,

Copyright © 2020 forexbroker.news

No Result
View All Result
  • Home
  • Forex Broker Reviews
  • Broker Types
  • Forex & Fintech Jobs
  • News

© 2020 https://forexbroker.news - Forex Broker news & magazine