FTSE slides on Asia Wall Street cues

The FTSE has started the day in negative territory taking its cue from a weakening in Asian markets and a subdued close on Wall Street. BAE Systems is among the lead fallers as the company struggles to push through its plans to build a new production site in Cheshire but Unilever is pulling higher following a report showing a growth in sales. The volumes are thinner than usual as traders prepare for a four-day Easter weekend which will see markets reopen on Tuesday.

Farage’s Brexit party in the lead for European elections

In a development that must have European leaders eating their hats, Nigel Farage’s Brexit party has surged in the polls as the clear leader to win in European elections. The party which was only formed in January, has overtaken Labour, Conservatives and UKIP as the likely winner. Whether related or not, the pound, which has been the barometer of all things Brexit, is nudging lower against the dollar this morning, heading for the $1.300 line.

Pinterest IPOs at $19 a share

Showing that investors’ appetite for tech stocks is not abating, social media site Pinterest IPOed in New York yesterday at a price of $19 a share, up from an initial range of $15 to $17. The site, which operates mainly based on picture postings, has managed to raise $1.43 billion in its IPO offering and will start trading on the New York Stock Exchange later Thursday.

From time to time, StoneX Financial Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.

City Index is a trading name of StoneX Financial Pty Ltd.

The material provided herein is general in nature and does not take into account your objectives, financial situation or needs.

While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments.

StoneX recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets.

It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com/en-au/terms-and-policies/, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. Our Target Market Determination (TMD) is also available at www.cityindex.com/en-au/terms-and-policies/.

StoneX Financial Pty Ltd, Suite 28.01, 264 George Street, Sydney, NSW 2000 (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.