FTSE 100 nears 1-month high
Britain’s FTSE 100 rallied beyond the 7100 level on Wednesday as markets reacted to positive data from the United Kingdom.
Initial reports show that the UK recorded 0 COVID-19 related deaths for the first time since the pandemic began. Even as the majority of lockdown measures are being lifted.
Following on from this. Britain has been provisionally accepted into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, setting the stage for further trade-deals post Brexit.
The CPTPP, which includes Japan, welcomed the news, with Japanese Economic Minister Yasutoshi Nishimura, stating that, “The United Kingdom’s potential membership would support the mutual interests, common values and commitment to upholding the rules-based trading system shared by the members of the CPTPP”.
As of writing, the London based FTSE 100 closed 0.39% higher.
Dogecoin gains close to 30%
Dogecoin was one of Wednesday’s biggest movers, after the once “meme coin” rose close to 30% on news from Coinbase.
NASDAQ listed Coinbase announced that Dogecoin trading would be available to users of its “Coinbase Pro” offering this week.
According to reports, trading will begin from 17:00 BST tomorrow June 3rd. Provided liquidity conditions are met.
In a statement from Coinbase, the company made clear its possible to potentially suspend trading, depending on volatility.
The statement read. “If at any point one of the new order books does not meet our assessment for a healthy and orderly market. We may keep the book in one state for a longer period of time or suspend trading”.
Coinbase shares were up 0.91% as of writing.
Google shares down, as Huawei launches competing OS
Shares in Google’s parent company Alphabet were down on Wednesday, as Chinese competitor Huawei announced it will be launching a rival operating system.
HarmonyOS will challenge Google’s Android offering, and be available on numerous smartphones, tablets and watch products.
The move to pivot into software comes after Huawei’s 2019 U.S. sanctions which prevented mobile users from accessing Android updates.
Now, many will wait to see if the move could help the company recover some of the losses incurred during sanctions. And potentially compete with other operating systems.
As of writing $GOOGL was down 0.43%.
Quote of the day – “Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.”– Yvan Byeajee
Senior Market Analyst