European Market Update 25 Jun 2018

Posted by Tim Sholl on 25-Jun-2018 22:50:43

Trade issues are once again on investors minds as Trump suggests that all European cars sold in to the US be hit with a 20% tariff , this would hit Daimler , maker of Mercedes , BMW and VW the hardest. He has also suggested a ban on Chinese investment in US technology companies and a block of selling technology to China. 

This further escalation of tension has hit the market with Stock indices lower in Asia today and Europe tonight. The market is happy to move back into the fixed interest market with UK10 at 1.31% down 6 , the GE10 at 0.33% down 4 and the US10 at 2.88% down 2. Gold is flat at 1269 and Crude oil is mixed with WTI higher and Brent lower after oil producers increased the supply of oil available to the market.

Stock indices are all lower with FTSE at 7592 down 1.1% , the DAX at 12423 down 1.1% , and the CAC at 5341 down 0.9%. 

The US Dollar has also fallen against the EUR , CHF , JPY and GBP , but has risen against the AUD , CAD and NZD with the EUR at 1.1695 , the GBP at 1.3268 , and the JPY at 109.60 down 40. 

In Turkey the result of the Presidential election was announced with current President Erdogan declared the winner

In economic data the German business climate was lower than expected at 101.8 , a 12 month low. A French bond auction is to be held later in the session.

Topics: Trading, Market News, European Market Update