Daily Digest: Thursday 4th April
Europe
FTSE 100 (FTSE) performances strengthened through Thursday, with the index rising 0.48%, once again eyeing the 8,000 level. Prices rose to intraday highs of 7,990.41, before falling back to 7,975.89 at the close. UK services PMI data for March fell slightly short of analyst expectations, recorded at 53.1 against predictions of 53.4. Despite failing to meet estimates any PMI figures over 50 are still indicative of an expansion of output.
EU services PMI for March came in at a positive shock, recorded at 51.5 against analyst estimates of 51.1 signalling stronger than expected sector growth. Market direction was generally positive, with index activity supported by rate cut estimates affirmed by Powell’s Wednesday address, alongside stronger Eurozone non-manufacturing PMI figures. The Pan European STOXX 600 (€SXXP) rose 0.16% to 510.84, the German DAX (€GDAXI) rose 0.19% to 18,403.13, and the French CAC (€FCHI) recorded marginal declines of 0.021%, falling 8,151.55.
Rest of the World
The Nikkei 225 (¥N225) managed to find some positive form through Thursday’s session, rising 0.81%. The Nikkei now trades at 39,773.14, with performances buoyed by weaker US inflation outlooks, and a continuation of Yen declines. As of 16:17 GMT, the Japanese currency trades against the US Dollar at ¥151.690, trading just short of its 52-week lows. A weaker Yen benefits foreign investors, as Japanese equities become relatively less expensive, as traders convert their domestic currencies to the weaker Yen.
Chinese markets were closed through Thursday as the nation marked a bank holiday, with markets reopening next Monday. Meanwhile, traders on the Nifty 50 (₹NSEI) saw moderate gains as the Indian benchmark rose 0.36% to 22,514.65.
Commodities
Crude Oil prices rallied a further 1.3% by 21:00 GMT, reaching $86.54 per barrel.
Gold prices ended a ten session streak of increases, falling 0.59% to $2,301.30 per ounce.
What to watch
US Non-Farm Payroll
Sources:
https://uk.finance.yahoo.com/world-indices/
https://uk.finance.yahoo.com/commodities
https://www.londonstockexchange.com/indices/ftse-100
https://www.binance.com/en-GB/price/bitcoin
https://www.binance.com/en-GB/price/ethereum
https://qontigo.com/index/sxxp/
Stock Market Activity Today & Latest Stock Market Trends | Nasdaq
https://coinmarketcap.com/charts/#market-cap
https://www.forexfactory.com
Definitions:
YoY - Year on Year, or, Year over Year
MoM - Month on Month, or, Month over Month
QoQ - Quarter on Quarter, or, Quarter over Quarter
ECB - European Central Bank
BOJ - Bank of Japan
Fed - Federal Reserve
BOE - Bank of England
SNB - Swiss National Bank
DOJ - Department of Justice