• Global markets mixed on recession concerns

    U.S. index futures were slightly higher this morning, however, gains were restricted due to fears over the economy. The Dow Jones Industrial Average (DJIA), Nasdaq 100 and S&P 500 were all slightly higher.

    European Markets were mixed on the back of concerns over a U.S. recession. The CAC 40 was lower, whilst the DAX 30 and FTSE 100 opened a bit higher. It is fair to say major indices were subdued this morning.

    In other news, Fiat Chrysler’s share price rose above 3% as reports emerged of a takeover bid from Renault. This comes after separate merger talks with Nissan.

    Brexit uncertainty continues as the U.K. Prime Minister, Theresa May, tries to gain support for her twice rejected divorce deal. The rumour mill suggests that the PM could potentially lay out her own departure date to gain support from her own Conservative Party. Investors will be keeping an eye on a volatile pound on the back of any Brexit related news. GBPUSD is currently trading at 1.3204 at 08:18 GMT.

    EURUSD rallied this morning to 1.1273 at 08:17 GMT as the European Central Bank President Mario Draghi gave his speech in which he stated that a temporary slowdown does not have to result in a serious recession.

    On the data front, all eyes on the U.K. as we have yet another round of indicative votes on Brexit.

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