UK Parliament opens overseas territories. Company ownership to be made public

Transcription

1 UK Parliament opens overseas territories Company ownership to be made public British Overseas Territories like the British Virgin Islands, Cayman Islands and Bermuda will be forced to reveal details of secret company ownership as part of anti-money laundering measures and tackling corruption. Proposed by Labour veteran Margaret Hodge, the register of firms beneficial ownership must be in place by 31 December Caribbean territories have responded angrily, per the Financial Times, while others have called for help through this transition period. The Bank of England s chief economist Andy Haldane, in a speech published Monday, said that people s Spotify music downloads could be used in data analytics to gauge consumer sentiment. In the US the resulting index of sentiment does at least as well in tracking consumer spending as the Michigan survey of consumer confidence. Ex-colleague Andrew Sentence tweeted in reply that this was more evidence that the Bank had lost its way, reports City AM. Nicole Elliott

2 DAX 30 Frozen at the 50 per cent retracement level and bullish momentum has disappeared. SHORT TERM TRADER: Small short at 12430; stop above Target POSITION TAKER: Short at 12400; stop well above First target ii

3 FTSE 100 Overbought as we climb towards the maximum Fibonacci retracement levels in a very steep trend channel. SHORT TERM TRADER: Square. POSITION TAKER: Square iii

4 S&P 500 Still holding inside a giant triangle, and currently under long term trend line support (which has become resistance) and momentum is slightly bearish. SHORT TERM TRADER: Small short at 2689; stop above Target POSITION TAKER: Short at 2673; stop above First target iv

5 BRITISH POUND/US DOLLAR Rather jittery FX market ahead of today s FOMC interest rate decision. Cable is back to where it was at the start of the year with a slide as steep and as sudden as January s rally was mirror images of each other with an inner consolidation band between and Could this be a double top? SHORT TERM TRADER: Square. POSITION TAKER: Crashed out of yesterday s long and disappointed v

6 EURO/US DOLLAR Headlines like: euro trades below are really not very helpful. The recent slide has put it at its most oversold against the US dollar since November 2016 (when it was trading around ). Having given up just over half of the gains since November 2017, we are watching for an interim base to form. SHORT TERM TRADER: Still watching to a level at which to buy the euro. POSITION TAKER: Square vi

7 GOLD Dipping briefly below support around 1310 but then getting cold feet. The commodity channel index, that has worked fairly well so far this year, is trying to find an interim base. SHORT TERM TRADER: Thinking of trying to buy a small amount. POSITION TAKER: Square vii

8 Nicole Elliott is a long-standing Member of the Society of Technical Analysts and has taken over the IC s trading coverage. She is regularly interviewed and quoted by the financial media, is a conference speaker, and author of several books on charting. The Financial Times Ltd Investors Chronicle is trademark of Financial Times Ltd. "Financial Times" and "FT" are registered trademarks and service marks of the Financial Times Limited. All rights reserved. No part of this publication or information contained within it may be commercially exploited in any way without prior permission in writing from the editor. Material (including tips) contained herein is for general information only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decision. Appropriate independent advice should be obtained before making any such decisions. Financial Times Business Limited does not accept any liability for any loss suffered by any user as a result of any such decision. Do remember, particularly if you are new to stock market investment, that the prices of shares and other investments can fall sharply. You may not get back the money you originally invested. Past performance is not necessarily a guide to the future. In comparing the investments described in this publication, you should bear in mind that the nature of such investments and of the returns, risks and charges differ from one investment to another. Smaller companies with a short track record by their nature tend to be more risky than larger, well-established companies. The investments and services mentioned in this publication will not be suitable for all readers. In some cases (for example, but without limitation, where an investment or service is provided by a party who is not authorised by the Financial Services Authority) you would not be protected by the investor protection measures required under the Financial Services and Markets Act 2000: for the sake of illustration only, you might not be able to claim under the Financial Services Compensation Scheme. Provision of the investments or services mentioned on this website may be restricted by law depending on the jurisdiction in which you are resident, and on what type of investor you are. If you have any doubts about the suitability or legality of any investment or service, you should take appropriate professional advice. The views and recommendations in this publication are based on information from a variety of sources. Although these are believed to be reliable, we cannot guarantee the accuracy or completeness of the information herein. While we require our journalists and editorial staff to comply with the Press Complaints Commission Code of Practice, you should be aware that they may have interests in investments and/or providers of services referred to in this publication. viii