Brighter day for stocks as bargain hunters step in
|Stocks have rebounded on the first day of the new week, providing a sharp contrast with the gloom that prevailed on Friday, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Calmer mood prevails across stock markets
“Friday’s selloff has seen countered by a wave of buying from investors, while the VIX has dropped back sharply. The drop in the chances of a 50bps rate hike suggests that a calmer attitude prevails among investors, despite the slew of weaker jobs data from the US. Much now hangs on the CPI report, especially since Friday’s payroll report failed to provide much new information on the US economy.”
FTSE 100 rallies despite signs of China disinflation
“The FTSE 100 has put its best foot forward this afternoon, rallying through Friday’s highs thanks to a solid performance from HSBC. China’s overnight inflation data has not dented enthusiasm for the bank’s shares, while a recovering oil price helped Shell to make headway too.”
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