Skip to content Skip to footer

EU Business Activity Sends DAX 30 Higher, OPEC Tensions Sends Oil Prices Higher & Boris Johnson Confirms the End of UK Lockdown

DAX 30 higher, as EU business activity rebounds

As U.S. markets were closed due to the public holiday on Monday, attention shifted to Europe, with data released showing that business activity climbed by its fastest in 15 years.

The rise in business activity comes as many European countries reopened their economies as a result of increased vaccinations.

Data from IHS Markit showed that its Purchasing Managers Index jumped to 59.5 in June, up from May’s 57.1.

This was the Index’s highest level since June 2006 and comes as the EU begins to welcome fully vaccinated tourists into the continent as the summer season commences.

The DAX 30 was marginally higher as a result of the news.

Oil prices climb to multi-year highs on OPEC tensions

Crude oil prices rose to their highest level in the last few years on Monday, as tensions between the UAE and Saudi Arabia led to the policy meeting being postponed.

The tensions began last week during discussions, when the United Arab Emirates voted against a potential extension to production curbs.

Many in the cartel have remained cautious on increasing supply as a result of the Delta Variant of the COVID-19 vaccine.

This cautious approach has also led to crude oil prices climbing, with WTI trading at an intraday high of $76.42 in today’s session.

Monday’s high was the most a barrel has been prices of WTI since September 2018.

FTSE 100 rises as Boris confirms end of lockdown

The FTSE 100 closed higher in today’s session, as British Prime Minister Boris Johnson confirmed his plans to end all lockdown restrictions.

Speaking in front of the media, Johnson stated that, “We must be honest with ourselves that if we can’t reopen our society in the next few weeks, when we will be helped by the arrival of summer and by the school holidays, then we must ask ourselves when will we be able to return to normal?”.

Initially, all remaining restrictions were due to be removed on July 21st, however as a result of the rapid spread of the Delta variant, plans were postponed.

The PM later added that, “We will move away from legal restrictions and allow people to make their own informed decisions about how to manage the virus“.

Some have criticized Johnson’s handling of the matter; however, markets seem to have been boosted by the news, with the FTSE ending 0.58% higher.

Quote of the day – “The goal of a successful trader is to make the best trades. Money is secondary.”

– Alexander Elder

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.