Skip to content Skip to footer
FTSE 100

FTSE 100 rises despite Brexit and COVID-19 concerns – 20th October

The FTSE 100 had a minimal rise of close to 0.1% despite a further rise in COVID-19 cases and Brexit tensions.

Britain’s benchmark index continued its recent consolidation of the 5,848 support level on Tuesday, ending a recent losing streak.

This came as it was reported that Europe’s lead negotiator Michel Barnier, and his British counterpart David Frost, held discussions on Tuesday, but have not agreed any upcoming face-to-face meetings, until the UK feels more concessions are made by the EU.

It was also reported that a further 21,331 new coronavirus cases were recorded on Tuesday.

Markets buoyed by U.S. Stimulus hopes

The S&P 500 ended a five day losing streak on Tuesday as hopes grew of a possible Stimulus bill imminently passing Congress.

Markets have begun to price in a deal, as talks between Speaker of the House Nancy Pelosi and Treasury Secretary Steven Mnuchin continued, with the hope of ending political hostilities and cementing a bipartisan deal before the November 3rd election.

Negotiations over the deal, recently heated up as the Trump administration have pushed to get the bill passed, which many say could be worth over $2.2 trillion.

As of writing, the Dow Jones rose 0.67%, whilst the S&P 500 and NASDAQ gained 0.64% and 0.76% respectively.

Google sued by Justice Department

Today it was reported that the Department of Justice in the United States has filed a lawsuit against Google.

 The suit charges that the company has unlawfully maintained a monopoly within the online search industry. The areas covered in the suit are; “general search services, search advertising, and general search text advertising.”

Google shares actually rose 1.72% as the market appeared to have discounted the news.  Reportedly, the Justice Department conducted a yearlong investigation prior to bringing forth the charges. Today is the first such antitrust lawsuit against a “big tech” company since the DOJ sued Microsoft in the 1990s.

Quote of the day – “It’s not what we do once in a while that shapes our lives. It’s what we do consistently.”

Tony Robbins

Live Tutoring Session (LTS)
Find more information and webinars like this at TradeGATEHub sponsored by Tradeview Markets.

To stay up to date with the markets we encourage traders to view our Trade Gate Hub for more real time insights into Crude, Gold and many other markets.

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.