S&P: Still very overbought on the RSI with a little shooting star candle yesterday and current consensus opinion that the only way is up. Chart from Analyst, Nicole Elliott, Investors Chronicle




World Bank upgrades outlook
Last hurrah for the global economy

In a significant revision to figures published in June, the World Bank now expects global growth to be 3.1 per cent in 2018; this would then slow over the following two years. They are worried about the potential for a financial market upset and say that productivity and investment need to increase.

Mifid II, the Markets in Financial Instruments Directive, which came into force this month (and was originally meant to be introduced a year ago,), suffered another set-back late yesterday. The European Securities and Markets Authority said that because many share trading venues had as yet been unable to supply lists of equities which were to be excluded from dark pools, it was impossible to place a cap on their volumes; they have been given a 30- day grace period to comply. This follows the exclusion for a period of 30 months for some derivative exchanges announced earlier this week.



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