Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....
9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius
FTSE 100 futures are currently trading at 4951-lower by 12.68% as compared to the previous closing. The contract, however, closed in the positive territory in the last trading session.
In the Cash Markets, the FTSE 100 lost 7.40% to 4,969.27 at the time of writing.
The broad-market index fell today as coordinated stimulus actions by global central banks failed to calm panic-stricken traders who feared deeper economic damage from the China-linked virus pandemic.
The FTSE 100 lost 7.5% to its lowest level since October 2011 earlier in the session. The index fell by about 17% last week.
UK’s airline shares were the worst performers today as the government looked set to discuss how to help the sector after major airlines said the government needs to step in to prevent a collapse.
TUI and EasyJet plunged about 34% and 16% respectively at the time of writing.
London’s travel and leisure index is in negative territory for the ninth straight session. The index is on track for its worst such losing streak on record.
The US central bank in an emergency move on Sunday cut its benchmark interest rate to zero so as to ease strains on global funding markets.
As of Sunday, People in Britain who died from the pneumonia-causing virus rose by 14 to 35, while total infections jumped by 20% to 1,372.
An index survey released earlier today showed that manufacturing in the UK fell sharply in early this year even before concerns about the China-linked virus mounted.
Stocks of major lenders Lloyds Banking Group and Barclays plunged 12.20% and 17.16% respectively at the time of writing.
Housebuilders-particularly sensitive to the domestic economy- were trading in negative territory on Monday. Taylor Wimpey and Barratt Developments lost 17.23% and 13.60% respectively at the time of writing.
On the technical front, the RSI is currently at 25.89% and suggests that the market can move in the downward direction. The current price is below the MA5. The %K has crossed the %D from below to the upside at around 9% and suggests that the market can move in the upward direction.
Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.
Trade Suggestion- Limit Sell at 4970. Take Profit at 4890. Stop Loss at 5010