Swine Flu Hits Crude Oil Prices

Calendar April 28, 2009 | Posted by Robert

The FTSE currently indicates a very weak open, as traders worry that the economy is not showing any signs of a bottom.

Concerns are elevated with the US GDP numbers due out on Wednesday. Analysts are expecting for the US economy to contract by almost 5% for the first quarter. The FTSE is likely to start the day in the red.

Crude oil fell for a second day on concerns that the swine-flu outbreak will curtail travel, delaying a recovery from the global recession.

Oil declined as the World Health Organization raised its global pandemic alert to the highest since 2005. Slowdown in demand might cause another stockpile of inventory which will show up next week.

Predicted market opens as of 06:00 BST:

FTSE 100: 4131.6 (-30.2)
CAC40 3065.90 (-31.90)
DAX30 4651.4 (-51.1)
DOW: 8003 (-21)
SP+500 853.83 (-6.00)
Gold: $899.70 (-$7.10)
Crude Oil: $49.56 (-$0.50)

By David Evans of BetOnMarkets Account.

The above comments do not constitute investment advice and neither BetOnMarkets nor SpreadBets.org.uk accept any responsibility for any use that may be made of them.

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