Published on 14th October 2014
1630: Close UK stocks managed a small bounce, as equity traders Stateside shied away from pushing the S&P 500 too far below its 200-day moving average, an important level of technical support. In the trading pits for crude futures, on the other hand, it was no-holds-barred price action, as Brent futures fell sharply again. Investors worldwide keyed off of OPEC members' seeming chicken-race lower. Worth noting, according to analysts at Digital Look, are the myriad geopolitical implications which flow on from price movements in this market. As US shale producers look on with keen interest so too surely does the Kremlin, to mention but two of the key players. It is a high-stakes game in every sense certainly. Central bankers may not be too content with the volatility either. Ironically enough, not too long ago a sharp drop in energy prices was the stuff that policymakers' dreams were made of - but not if it is the result of a marked weakness in demand. FTSE 100 up 26 to 6,393.