Japanese Election: Trade Tentatively

Market Movers

The Japanese Election is the big event to watch out for this week. As the markets are pushing higher due to Wall Street, and as we are waiting for the Fed Chair announcement, all eyes turn to Asia over the weekend.  

Ronnie Chopra, Author at Wall Street Wires, believes the market is taking the Japanese Election in it's stride. Matt Brown, Market Commentator and Host of this segment, warns that traders should trade tentatively. It must be remembered in the UK Election, it seemed it would all go in May's favour however, it resulted in being very close. 

BT

The FTSE company looked at in today's Daily Market Show, is BT. Ronnie thinks that the fundamentals on this chart look very attractive. The dividend yields are in excess of 6%. He also points out that the company is doing well in securing new deals, such as winning the rights to air the Ashes, previously done by Sky. Ronnie adds that he thinks the fall is well over done, and the valuation is very low. However, Matt reminds viewers to be aware of the pension deficit. 

FTSE 100 Index

As a whole, the FTSE is has a strong performance, although it feels as if it is lagging in comparison to other indices. Ronnie believes Brexit may be casting a shadow over the FTSE. From a global perspective, it is pointed out that it is still much cheaper than the likes of say, the DOW. 

Sterling coming off a bit against the US Dollar, should have boosted the FTSE but we have not seen this happen. 

Pound

Similarly to the FTSE under-performing due to Brexit, Ronnie believes the pair GBP/EUR is under-performing. However he remains baffled by the strength in the Euro, considering uncertainty in Europe, including Catalonia. 

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