Spread Trading Markets Snapshot

• FTSE 100 dropped 3.4% or 178.0 points to 5,069.0.
• FTSEurofirst 300 index declined 4.0% to 936.3.
• DJIA slumped 5.5% or 634.8 points to close at 10,809.8. NASDAQ plunged 6.9% or 174.7 points to settle at 2,357.7. S&P 500 plummeted 6.7% or 79.9 points to 1,119.5.
• Nikkei 225 index is trading 4.1% lower, at 8,728.9.
• In Asia, crude oil for September delivery is trading $3.60 lower at $77.71 per barrel.
• At 0350 BST today, the GBP is trading 0.1% lower against the USD at $1.6303, 0.5% down against the EUR at €1.146 and 0.7% weaker against the JPY at ¥125.85.
• For more on trading stock market indices see spread trading on indices.

Spread Trading UK Markets

• UK markets closed lower yesterday, with the FTSE 100 index falling to the lowest thirteen-month closing level, as a downgrade of the US credit rating by Standard & Poor’s added to worries over prospects for global economic growth.
• Miners, Kazakhmys, Vedanta Resources and Antofagasta, dipped between 4.5% and 10.1%, in line with a fall in base metal prices.
• Oil producers, Petrofac, Cairn Energy and Royal Dutch Shell - A, lost between 1.8% and 8.3%, as crude oil prices continued to plunge.
• Banks, Barclays, Standard Chartered and Lloyds Banking Group, fell between 0.1% and 5.7%, as risk aversion increased among investors.
• Weir Group tumbled 8.7%, as Morgan Stanley took a negative stance on the stock, while ARM Holdings slipped 8.3%, after its Japanese peer, Elpida, reported disappointing earning updates.
• FTSE 100 dropped 3.4% or 178.0 points to 5,069.0. FTSE 250 declined 4.4% or 451.2 points to 9,862.0.
• Miners, Kazakhmys, Vedanta Resource and Xstrata, tumbled between 7.7% and 10.1%, as copper for September delivery declined 3.8% to $3.96 per pound.
• GKN dipped 8.7%, following sharp losses among the European carmakers.
• Weir Group lost 8.7%, after Morgan Stanley downgraded the stock to “Equal weight”.
• Oil producers, Petrofac and Essar Energy, dropped 7.9% and 7.7% respectively, as crude oil for September delivery declined 6.4% to $81.31 per barrel.
• Randgold Resources jumped 7.4%, as gold for December delivery rallied 3.7% to $1,713.20 per ounce.
• For more on trading UK shares see spread trading on UK shares.

FX Spread Trading Markets

• At 0350 BST today, the GBP is trading 0.1% lower against the USD at $1.6303, 0.5% down against the EUR at €1.146 and 0.7% weaker against the JPY at ¥125.85.
• The EUR is trading 0.4% higher against the USD at $1.4225.
• The EUR is trading 0.3% lower against the JPY at ¥109.80, as a selloff in Asian equities decreased the demand for high yielding assets.
• The USD is trading 0.6% lower against the USD at ¥77.19, as concerns about a US economic slowdown fuelled demand for the Japanese currency as a safe haven asset.
• Yesterday, the GBP ended lower against the USD, as the global rout in equities prompted investors to shift their money into safe haven assets.
• The EUR dropped against the USD and GBP, on persisting concerns of a possible escalation in the Eurozone’s sovereign-debt problems.
• The USD managed to end higher against most of the major currencies, as US President Barack Obama reassured that the US “will always be a triple-A country”.
• For more on trading the forex markets see forex spread trading.

Commodities Spread Trading Markets

• Gold for immediate delivery is trading 1.5% higher today, at $1747.75 per ounce.
• Gold prices for December delivery surged 3.7% or $61.40 to $1,713.20 per ounce yesterday. This came as Standard & Poor’s downgrade of the US credit rating highlighted the growing fiscal mismanagement of the US government, heightening the appeal of demand for the precious metal.
• In Asia, crude oil for September delivery is trading $3.60 lower at $77.71 per barrel.
• Yesterday, crude oil for September delivery plunged 6.4% or $5.57 to $81.31 per barrel, as the Standard & Poor’s downgrade of US credit rating sparked fears about the economic outlook and demand for oil.
• For more on commodities trading see commodities spread trading.