Spread Trading Markets Snapshot

• FTSE 100 dropped 0.4% or 21.1 points to 6,002.9.
• FTSEurofirst 300 index dropped 0.3% to 1,118.8.
• DJIA gained 0.4% or 56.2 points to 12,626.0. NASDAQ climbed 0.3% or 8.3 points to 2,834.0. S&P 500 index closed 0.1% higher, at 1,339.2.
• Nikkei 225 index is trading flat at 10,083.2.
• In Asia, crude oil for August delivery is trading 71 cents higher at $97.36 per barrel.
• At 0400 BST today, the GBP is trading 0.1% lower against the USD at $1.6006, 0.1% lower against the EUR at €1.1168 and 0.1% lower against the JPY at ¥129.41.
• For more on trading stock market indices see spread trading on indices.

UK Spread Trading Markets

• UK markets closed lower yesterday, with the FTSE 100 index ending its eight-day winning streak, as Moody’s Investors Service cut Portugal’s credit rating to ‘Junk’. In addition, China’s central bank increased its benchmark interest rates, raising concerns over the pace of the global economic recovery.
• Banks, Barclays, Lloyds Banking Group and Standard Chartered, lost between 0.7% and 3.8%, as risk appetite decreased among investors.
• Miners, ENRC, Kazakhmys and Anglo American, dropped between 0.3% and 2.3%, in line with a fall in base metal prices.
• Among oil producers, Petrofac, BP and BG Group paced declines, as crude oil prices fell.
• FTSE 100 dropped 0.4% or 21.1 points to 6,002.9. FTSE 250 fell 0.1% or 13.7 points to 12,131.7.
• Banks, Barclays and Royal Bank of Scotland, declined 3.8% and 3.4%, respectively, as Moody’s Investors Service downgraded Portugal’s credit rating to “Ba2” from “Baa1” with a negative outlook.
• WPP slid 3.1%, as Morgan Stanley downgraded the stock to “Equalweight” from “Overweight” on valuation grounds.
• Miners, ENRC and Vedanta Resource dropped 2.3% and 2.2% respectively, as base metal prices fell.
• Serco climbed 3.9%, after Merrill Lynch repeated “Buy” advice on the stock and raised its earnings forecasts.
• Smith & Nephew advanced 1.7%, on news that its US peer, Rival Kinetic Concepts was said to have held talks to go private in a leveraged buyout.
• Experian gained 1.5%, as Citigroup upgraded the stock to “Buy” and raised its forecasts.
• Tullow Oil rose 0.9%, despite a fall in crude oil prices.
• Randgold Resources gained 0.6%, as gold for August delivery added 1.1% to $1,529.20 per ounce.
• For more on trading UK shares see spread trading on UK shares.

FX Spread Trading Market Review

• At 0400 BST today, the GBP is trading 0.1% lower against the USD at $1.6006, 0.1% lower against the EUR at €1.1168 and 0.1% lower against the JPY at ¥129.41.
• The EUR is trading marginally lower against the USD at $1.4332, as rising worries over Eurozone debt crisis decreased the demand for European assets.
• The EUR / JPY is trading 0.1% lower at ¥115.88.
• The AUD is trading higher against most of currencies, after a report showed that the number of people employed in Australia increased by 23,400 in June, following a 7,800 increase in May.
• Yesterday, the EUR ended lower against the USD and other major currencies, after Moody’s Investors Service cut Portugal’s credit rating to junk with a negative outlook and China’s central bank raised interest rates, decreasing the demand for European assets.
• For more on trading the forex markets see forex spread trading.

Commodities Spread Trading Markets

• Gold for immediate delivery is trading 0.1% lower today, at $1,529.35 per ounce.
• Gold prices for August delivery added 1.1% or $16.50 to $1,529.20 per ounce yesterday, as investors’ mounting concerns over the Eurozone debt spurred investment in the precious metal as a safe haven asset.
• In Asia, crude oil for August delivery is trading 71 cents higher at $97.36 per barrel.
• Yesterday, crude oil for August delivery closed 0.2% or 24 cents lower at $96.65 per barrel, amid concerns about future fuel demand, after China’s central bank raised interest rates and Moody’s Investors Service downgraded Portugal’s credit rating.
• For more on commodities trading see commodities spread trading.