Stocks have been steadily moving sideways for a couple of weeks now, even though we’ve seen some great earnings reports from the UK banks and bumper GDP projections.
September 22, 2021
The FTSE trading relatively flat on the week seems to be a common theme at the moment. Stocks have been steadily moving sideways for a couple of weeks now, even though we’ve seen some great earnings reports from the UK banks and bumper GDP projections.
It’s always hard to time the moves, but surely we’re due one soon.
Anyway, onto the weeks results from our traders, but first, let’s look at the global indices and see if there is much to report.
Dax – 0.8%
S&P 500 -0.25%
Hang Seng -4.98%
Asia has clearly faired the worst this week after mass selling in China, due to the regulatory crackdown by Beijing on companies that handle large amounts of data. Chinese tech stocks are down 22% in July, putting the Nasdaq China Index on course for its biggest monthly fall since 2008.
So, a pretty poor week for stocks, but how did The Portfolio Platform traders get on? Well, a few have traded relatively flat, very few lost, but a couple have managed some solid gains.
European Stock Basket put on another 3.3% for their autotraders, beaten only slightly by the European Index team with 3.9%, who are also behind this weeks best performer, ‘SP500 Trader’ with 7.5%, having placed a fantastic short position just at the right time.
London Equities, a team we recruited to offer futures exposure in global equities, have had a great week. With both long and shorts in there, and a brilliantly placed long CAC short S&P spread, they have delivered for their autotraders. Well done.
Enjoy your weekend and we trust all users of the platform can be pleased with the positive results.
For more information please feel free to email us here, or book in a call with one of our directors to hear more.
“TPP might just be about to revolutionise investment for the retail market.”
- London Stock Exchange 2020