Spread Trading Markets Snapshot

• FTSE 100 dropped 1.0% or 56.0 points to 5,718.4.
• FTSEurofirst 300 index declined 1.8% to 1,048.7.
• Dow Jones edged down 2.2% or 265.9 points to settle at 11,866.6. NASDAQ slipped 2.8% or 75.4 points to close at 2,669.2. S&P 500 shed 2.6% or 32.9 points to 1,254.1.
• Nikkei 225 index is trading 1.9% lower, at 9,655.7.
• In Asia, crude oil for September delivery is trading 40 cents lower at $93.39 per barrel.
• At 0400 BST today, the GBP is trading marginally lower against the USD at $1.6272, 0.1% lower against the EUR at €1.1464 and 0.1% lower against the JPY at ¥125.68.
• 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 declining for the third consecutive session, as miners and oil producers recorded losses.
• Miners, Kazakhmys, Xstrata and Vedanta Resources, dropped between 0.9% and 4.4%, in line with a fall in base metal prices.
• Oil producers, Essar Energy, Petrofac and Royal Dutch Shell, lost between 0.1% and 4.1%, as crude oil prices fell.
• Shire declined 3.3%, after JPMorgan Chase downgraded the stock to “Neutral” from “Overweight”.
• Hargreaves Lansdown tumbled 12.7%, as investors speculated that new regulations by the Financial Services Authority would weigh on its business.
• Adding to negative sentiments, jitters about the pace of the global economic recovery persisted, after a report showed that US consumer spending fell unexpectedly in June.
• FTSE 100 dropped 1.0% or 56.0 points to 5,718.4. FTSE 250 fell 2.2% or 254.4 points to 11,188.6.
• Hargreaves Lansdown dipped 12.7%, as UK regulators proposed that it wanted to ban undisclosed payments from fund managers and cash rebates to consumers.
• GKN lost 4.7%, ahead of its first-half results.
• Miners, Kazakhmys, Antofagasta and ENRC, dropped between 3.8% and 4.4%, as copper for September delivery fell 0.3% to $4.40 per pound.
• Essar Energy declined 4.1%, as crude oil for September delivery fell 1.2% to $93.79 per barrel.
• Fresnillo climbed 4.6%, after the company posted a 92% surge in first-half core profit and raised its dividend by 128%.
• Next gained 1.1%, ahead of its second-quarter trading updates.
• Utility stocks, Severn Trent, National Grid and United Utilities Group, advanced between 1.1% and 2.5%, as investors opted for stocks with defensive qualities.
• Tobacco stocks, British American Tobacco and Imperial Tobacco Group rose 1.0% and 0.8% respectively.
• For more on trading UK shares see spread trading on UK shares.

Forex Spread Trading Markets

• At 0400 BST today, the GBP is trading marginally lower against the USD at $1.6272, 0.1% lower against the EUR at €1.1464 and 0.1% lower against the JPY at ¥125.68.
• The EUR is trading 0.1% higher against the USD at $1.4190.
• The EUR is trading slightly lower against the JPY at ¥109.61, as most Asian equity markets traded lower, decreasing the demand for high yielding assets.
• The AUD is trading lower against the USD, after a report showed that Australia’s retail sales dropped 0.1% in June from a month earlier.
• Yesterday, the USD ended higher against EUR, after the US House of Representatives approved legislation to increase the US debt limit by $2.1 trillion and cut federal spending by $2.4 trillion.
• The USD ended lower against JPY and Swiss franc, after a report showed that consumer spending in the US fell 0.2% in June for the first time in almost two years.
• The AUD ended lower against the USD, after the Reserve Bank of Australia kept Australia’s key cash interest rate on hold at 4.75%.
• For more on trading the forex markets see forex spread trading.

Commodities Spread Trading Markets

• Gold for immediate delivery is trading marginally higher today, at $1,654.69 per ounce.
• Gold prices for December delivery surged 1.4% or $22.80 to $1,644.50 per ounce yesterday, as investors’ mounting worries over the pace of the economic recovery spurred investment in the precious metal as a safe haven asset. Also, a renewal in Eurozone debt worries helped the rise in gold prices.
• In Asia, crude oil for September delivery is trading 40 cents lower at $93.39 per barrel.
• Yesterday, crude oil for September delivery closed 1.2% or $1.10 lower at $93.79 per barrel, amid worries over future oil demand, as disappointing US consumer spending data renewed concerns about the pace of the economic recovery.
• For more on commodities trading see commodities spread trading.