Spread Bets Trading UK
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A review of the spread bets markets.
For today's review see: Spread Betting Markets.
Spread Bets Trading UK Markets - 29 July 2011
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- FTSE 100 gained 0.3% or 16.6 points to 5,873.2
- FTSEurofirst 300 index rose marginally to 1,089.2.
- DJIA fell 0.5% or 62.4 points to 12,240.1. NASDAQ edged up 0.1% or 1.5 points to close at 2,766.3. S&P 500 slid 0.3% or 4.2 points to 1,300.7.
- Nikkei 225 index is trading 0.6% lower, at 9,846.3
- In Asia, crude oil for September delivery is trading 37 cents lower at $97.07 per barrel.
- At 0400 BST today, the GBP is trading flat against the USD at $1.636, 0.2% lower against the EUR at €1.1397 and 0.3% lower against the JPY at ¥ 126.92.
- For more on trading stock market indices see spread betting on indices.
- UK markets closed mixed yesterday, as losses in miners and travel related stocks were offset by gains in banks and drug makers.
- Miners, Vedanta Resources, Rio Tinto and Anglo American, dropped between 0.8% and 1.7%, amid worries over future metal demand.
- Travel related stocks, Carnival dropped 3.0%, after its peer, Royal Caribbean Cruises, lowered its earnings forecast, while IAG fell 0.8%, after its peers, Air France-KLM and Deutsche Lufthansa, reported dismal earnings.
- Banks, Lloyds Banking Group, Barclays and HSBC, advanced between 0.8% and 4.1%, rebounding from their previous session losses.
- Among drug makers, Shire climbed 4.2%, after the company reported a rise in second-quarter earnings, while AstraZeneca added 0.2%, after the company raised its 2011 earnings outlook.
- FTSE 100 gained 0.3% or 16.6 points to 5,873.2. FTSE 250 fell 0.3% or 34.8 points to 11,615.6.
- BAE Systems climbed 4.9%, after the company announced a £500 million share buyback and a lower tax rate.
- Shire advanced 4.2%, after the company reported second-quarter profit that surpassed market estimates and raised its sales forecast.
- Inmarsat gained 3.9%, benefited by news that its US partner, LightSquared, signed a 15-year pact with Sprint Nextel Corp to share network expansion costs and equipment.
- BT Group rose 3.8% after the company reported a 38% rise in pre-tax profit for the first quarter.
- ITV advanced 3.1%, benefited by various broker upgrades.
- Carnival lost 3.0% after its peer, Royal Caribbean Cruises, forecasted lower earnings than previously predicted.
- Lonmin dropped 2.8%, as platinum for October delivery fell 0.9% to $1,792.40 per ounce.
- Centrica declined 2.3% after the company reported a 19% drop in first-half operating profit as warmer winter weather cut demand for natural gas.
- Randgold Resources dropped 1.4%, as gold for December delivery fell 0.1% to $1,616.20 per ounce.
- For more on trading UK shares see spread betting on UK shares.
- At 0400 BST today, the GBP is trading flat against the USD at $1.636, 0.2% lower against the EUR at €1.1397 and 0.3% lower against the JPY at ¥ 126.92.
- The EUR is trading 0.2% higher against the USD at $1.4355.
- The EUR is trading 0.1% lower against the JPY at ¥111.36, as most Asian equity markets traded lower, decreasing the demand for high yielding assets.
- The USD is trading lower against the EUR and JPY, after US lawmakers further delayed a vote on a plan to raise the debt limit to avert a default.
- The NZD is trading higher against the USD, amid speculation that the Reserve Bank of New Zealand would raise interest rates.
- Yesterday, the USD ended higher against the EUR, following upbeat US economic data. The National Association of Realtors reported that US pending home sales rose 2.4% to 90.9 in June from 88.8 in May, while the Labor Department revealed that new applications for US unemployment compensation slipped by 24,000 to 398,000 last week.
- For more on trading the forex markets see forex spread betting.
- Gold for immediate delivery is trading 0.1% lower today, at $1,617.55 per ounce.
- Gold prices for December delivery fell 0.1% or $1.10 to $1,616.20 per ounce yesterday, as encouraging US economic data dimmed the demand for gold as a safe haven asset. The Gold prices also fell, as the dollar rose against the major currencies, decreasing the demand for the precious metal as a hedge against inflation.
- In Asia, crude oil for September delivery is trading 37 cents lower at $97.07 per barrel.
- Yesterday, crude oil for September delivery closed 4 cents higher at $97.44 per barrel, as upbeat jobless claims and housing data from the US pointed to some improvement in the economic outlook. However, gains were limited, amid persisting worries over US debt ceiling.
- For more on commodities trading see commodities spread betting.
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Warning - as only a small percentage of the total contract value is required as deposit, it is possible for your losses to rapidly and substantially exceed that deposit. Seek advice if you do not fully understand the risks. Spread bets and CFDs carry high risk and are not suitable for everyone.
The above comments do not constitute investment advice and neither ETX Capital nor SpreadBets.org.uk accept any responsibility for any use that may be made of them.
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"Spread Bets Trading UK" last update by R Thomas, 29-Jul-2011
Warning: Financial spread betting carries a high level of risk. You can lose more than your initial investment or stake. Financial spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
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