• Attention still on Brexit

    European markets traded slightly higher this morning as onlookers speculate a dovish view from the U.S. Federal Reserve along with merger talks coming out of Germany between Deutsche Bank and Commerzbank. Shares of Germany’s largest two banks rose over 3.5% as both parties confirmed they were in merger talks. The CAC 40, DAX 30 and FTSE 100 all edge up this morning.

    In Brexit news, U.K. Prime Minister Theresa May is trying to gain support for her divorce deal once again. The PM only has 3 days to get backing from Parliament as the U.K. is expected to attend a final summit of the bloc’s leaders as an EU member on 21st March.

    In commodities news, Gold traded lower as share markets rose ahead of the Federal Reserve’s meeting. Oil prices also fell this morning over concerns of an economic slowdown. Brent crude oil futures dropped down to $66.67 with West Texas Intermediate (WTI) dropping to $58.37 at 09:38 GMT.

    On data front, not much to look at today however, the week ahead has plenty to digest with the main attention being on the all-important Brexit vote on Tuesday followed by the FOMC statement on Wednesday.

    Spread Co is an execution only service provider. The material on this page is for general information purposes only and nothing contained herein constitutes (or should be taken to constitute) financial or other advice which should be relied upon. It has not been prepared with your personal circumstances, financial situation, needs or objectives in mind, therefore any actions taken or not taken by any person on the basis of this material is done entirely at their own risk. Spread Co accepts no responsibility whatsoever for any such actions, inactions or resulting consequences. No opinion expressed in the material shall amount to (or be taken to amount to) an endorsement, recommendation or other such affirmation of the suitability or unsuitability of any particular investment, transaction, strategy or approach for any specific person. This material has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. As such, this communication is not subject to any prohibition on dealing ahead of the dissemination of investment research. Nonetheless, Spread Co operates a conflict of interest policy to prevent the risk of material damage to our clients.