FTSE: A drop back down to the 6800 area is likely. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

$2 trillion vanish in May Stock market stampede

City AM reports today that, based on data from MSCI, global stock markets saw their value slashed by $2 trillion in the month of May alone. Caused by escalating global trade spats, gloomy economic outlook, and the usual financial wobbles, stock indices around the world lost on average 0.8 per cent, US ones faring worse, the S&P 500 off 6.6 per cent (its worst monthly performance since 2011 and the worst May in decades).

After May’s abysmal showing in the European parliamentary elections, and row between German Chancellor Angel Merkel and her chosen successor Annegret Kramp-Karrenbauer, the former decided to ‘unretire’ from the CDU last week. On Sunday Andrea Nahless, head of the SPD (which also did very badly in the EU elections) stood down putting the viability of the coalition government between these two parties into doubt. Today she will step down as head of the SPD’s parliamentary group ahead of regional election in 3 key states in September.

Financial Markets and Political Commentary
 

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