Target 1: 11265
Target 2: 9865
Trade ideas & Daily market report September 11th 2019
Euro-zone equities secured limited gains on Tuesday with sentiment supported by gains in the energy sector. There was still an element of caution ahead of Thursday’s ECB policy decision and reservations over the earnings outlook.
The German DAX index gained 0.5% on the day, but the Italian FTSE MIB index declined 0.5%.
UK stocks recovered from earlier losses to register limited gains of 0.4% as Sterling held little changed while wages data helped underpin sentiment.
US equities gained net support from optimism over trade talks, although there were some reservations over sharp losses in Treasuries which could lessen pressure for aggressive interest rate cuts. The S&P 500 index registered marginal gains, although technology stocks lost ground.
Japan’s Nikkei 225 index gained 0.9% as a firm dollar and speculation over Bank of Japan easing provided support. Australia’s ASX index gained 0.35% with support from the mining sector, but losses in the technology sector limited gains.
Hong Kong’s Hang Seng index traded 1.6% higher in late trading as political sentiment improved, although Chinese stocks failed to gain support from trade developments with a 0.4% retreat for the Shanghai index.