News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • The Japanese Yen has found some support after weakening this month against the US Dollar and Euro. Have we seen the top in USD/JPY and EUR/JPY? Find out from @ddubrovskyFX here:https://t.co/TsLjTAsoCE https://t.co/41IIOiVqip
  • Hello traders! I will be starting the webinar shortly, resuming the discussion on how retail traders are back to tending to sell Wall Street Signup for the session below to find out what that means for markets going forward! https://t.co/Batq4jvLe6
  • Join @ddubrovskyFX at 19:00 EST/23:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here: https://t.co/AzOQip9B3r https://t.co/S5M8Q1hq4w
  • 🇳🇿 Balance of Trade (SEP) Actual: N$-2171M Previous: N$-2139M https://www.dailyfx.com/economic-calendar#2021-10-26
  • RT @BrendanFaganFx: Nasdaq 100 Edges Higher as Microsoft, Alphabet, Twitter Report Earnings $NDX $NQ_F $QQQ $MSFT $GOOGL $TWTR Link: http…
  • Heads Up:🇳🇿 Balance of Trade (SEP) due at 21:45 GMT (15min) Previous: N$-2144M https://www.dailyfx.com/economic-calendar#2021-10-26
  • NZD/USD struggles to retain the advance from the start of the week following an unexpected improvement in US household sentiment. Get your %NZDUSD market update from @DavidJSong here:https://t.co/QR98lVXppm https://t.co/fap0XpjcJD
  • Seriously Twitter, how do you beat on revenue and miss so significantly on EPS. The flexibility in GAAP is so wide, you could drive a truck down the middle path...
  • 🇰🇷 Consumer Confidence (OCT) Actual: 106.8 Previous: 103.8 https://www.dailyfx.com/economic-calendar#2021-10-26
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.13% 🇬🇧GBP: 0.01% 🇨🇭CHF: 0.01% 🇨🇦CAD: -0.05% 🇪🇺EUR: -0.11% 🇯🇵JPY: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/MJgqSk2P9o
FTSE 250 Outperforms FTSE 100 on Brexit Developments

FTSE 250 Outperforms FTSE 100 on Brexit Developments

Justin McQueen, Strategist

FTSE 100 Analysis and News

  • Firm GBP sees FTSE 250 Outperform FTSE 100
  • Beware as UK and EU Officials Pour Cold Water on Brexit Hopes

See our Q4 forecasts to learn what will drive price action through the quarter

Firm GBP sees FTSE 250 Outperform FTSE 100

Overnight, the latest wave of Brexit optimism stemmed from reports in the Times that the UK and EU have tentatively agreed deal on some forms of access for UK based financial institutions to European markets. This in turn has seen the FTSE 250 outperform the FTSE 100, given its larger exposure to domestic developments. While the FTSE 100 is also lagging its peers as the stronger GBP weighs on FTSE 100 profitability due to the fact that two thirds of the revenue generated from the top 100 companies are generated overseas. Typically, when GBP rises, the FTSE 100 will lag the FTSE 250.

Beware as UK and EU Officials Pour Cold Water on Brexit Hopes

In the last hour however, a UK official reportedly stated that the Times report on banks Brexit deal is “unsubstantiated”, while a senior EU negotiator has poured cold water on hopes that a Brexit deal can be reached within 3 weeks, highlighting that nothing has changed. Consequently, slight gains in the Pound have been faded, which in turn has reduced the outperformance of the FTSE 250 relative to the FTSE 100.

FTSE 250 Outperforms FTSE 100 on Brexit Developments

Source: Refinitiv. Spread between the FTSE 100 over the FTSE 250 in a 2-yr time frame, which is compared with GBPUSD, showing the effects that GBPUSD has on the performance of UK assets.

Brexit Analysis

KEY TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES