Another index with no momentum yet managing another hammer..Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

FTSE SHORT TERM TRADER: Small short at 7120; stop above 7275. Target 6800.

FTSE POSITION TAKER: Square.

~~~~~~~~~~~~~~~~~~~~

Car makers react Blame all and sundry

Once again yesterday Mini Cooper maker, Germany’s BMW, threatened production cuts and whether to continue to build at its Cowley plant in Oxford. Nissan said yesterday that it will cease production of its Infiniti brand in Sunderland by July; the decision is not directly Brexit related, but one to exit Western Europe’s premium car market. In Germany yesterday VW said it planned to shrink its workforce by up to 7,000 by 2023, saving €5.9 billion and taking its operating margin to 6 per cent. Nothing to do with diesel gate or the proposed banning of diesel cars in cities, of course.

Film stars, celebrities and financial titans were yesterday rounded up in California accused of running a scam to get their kids into elite colleges. Bribes adding up to an estimated $25 million since 2011 were involved, and something like 38 people have been charged.

Financial Markets and Political Commentary
 

Tags

, , , , ,

Related Posts

About the author

High profile, trusted, veteran Technical Analyst with over 25 years’ banking experience. Key expertise in all areas of Treasury, especially foreign exchange, derivatives, fixed income and commodities. Acknowledged for personal contribution to new developments in the industry. Well regarded by the media for provision of accurate forecasts, succinct copy and entertaining sound bites. Thrives in dealing room environments – excellent interpersonal skills and a strong communicator with extensive business contacts. Looking for suitable and interesting opportunities.