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Morning Markets Report – Wednesday 13th October 2021

Markets continue to focus on the extent of global inflation pressures


Markets continued to focus on the extent of global inflation pressures and supply-side issues during Tuesday. US bond yields edged lower on the day despite inflation concerns.

Risk appetite was still slightly more cautious amid global stagflation fears. Wall Street equities drifted lower as chip shortages dampened confidence in the tech sector.

Global equity markets overall edged lower, although Chinese markets traded slightly higher.

The dollar index posted fresh 12-month highs on expectations of higher yields, but faded slightly ahead of the US CPI data.

Euro-zone equities were hampered by disappointing economic confidence data and there were also reservations surrounding the inflation outlook which curbed underlying support.

The German DAX index declined 0.3%, although there was a gain for the Spanish market.

Major UK stocks were unable to make headway on Tuesday with markets focussed on the threat of higher interest rates. There were also underlying reservations over the earnings outlook given global supply-chain difficulties.

Wall Street equities were hampered by underlying inflation concerns and the increase in bond yields while supply-side issues also had an important negative impact. Overall, the S&P 500 index retreated 0.25% and futures edged lower on Wednesday.

Overall sentiment remained cautious in Asia, especially with supply-side issues. Japan’s Nikkei 225 index declined 0.2% while there was a slight 0.1% retreat for the Australian ASX index.

China’s Shanghai index traded 0.5% higher in late trading with Hong Kong’s Hang Seng index slightly higher after a delayed opening.



Stock to watch today


Bunzl posted a huge bullish engulfing candle on the daily chart with a huge spike in volume. The shares have corrected lower in recent weeks, but the buyers appear to have stepped in to halt the sell off. The reversal candle posted yesterday could indicate a short term turnaround and push the price higher over the short to medium term.


CCM Opinion: BUY

Buy between 2400 – 2470p

Stop: 2350p

Target: 2700p



The value of shares can fall as well as rise; you may not get back the amount you invested. Past performance is no guarantee of future performance. Capital is invested at risk This document is published by Clear Capital Markets and does not constitute a solicitation or personal recommendation for the purchase or sale of investment. The investments referred to may not be suitable for all investors. Any data or views given should not be construed as investment advice. Every effort is made to ensure the accuracy of the information, but no assurance or warranties are given. Clear Capital Markets Limited is authorised and regulated by the Financial Conduct Authority FRN 706689.

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