• UK stock market commentary (September 29, 2015): Just one more bad day away from a bear market

    European equities are set to slump on the open as they hurtle towards the technical definition of a bear market. With most of the European indices only another awful session away from crossing the 20% decline mark, the flight to safety trade is certainly on this morning. Chinese economic woes are still the main driver and it looks as though things are intensifying if anything. With one of the global economyís pillars wobbling, itís only natural for everyone else to fear for their own stability.

    Stocks continued to tumble on Monday as the Dow Jones industrial average fell over 300 points. The Dow is on track for its third consecutive quarterly loss. The Fedís decision to keep the base rate unchanged last week has left an aura of doubt with matters not helped by continuing weakness in China.

    The Euro took another hit on Monday as the Volkswagen emissions scandal continues to make ripples in the European automotive industry. Investors now look ahead to speeches from top Federal Reserve officials, which could provide more clues as to the timing of an inevitable rate hike.

    In commodity news gold prices suffered their biggest loss in three weeks on Monday as the precious metal fell over 1% with Gold December futures settling at $1131.70 per oz. With stocks falling investors are worried that the traditional flight to safety demand for gold has lost its appeal in the light of a possible rate hike which would strengthen the dollar.

    Contributed by Capital Spreads
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