Spread Betting Brief Comment
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 9 March 10 - 7:35am
We are calling the FTSE down 4 points this morning at 5602; this comes after a quiet trading session in the states last night with the Dow closing down 13 points.
With the market seemingly entering a stale period, investors will look towards January British trade numbers.
These are due at 9:30 a.m. British time, with the global deficit seen at -£7.00 billion, up from -£7.278 billion in December, and the non-EU trade gap seen at -£3.40 billion, up from -£3.553 billion.
By Simon Rossington
Spread Betting Comment - 3 March 10 - 8:15am
The markets are broadly unchanged this morning.
The Dow Jones index sold off yesterday as technology stocks weighed following Microsoft’s comments about modest growth.
Sterling is flirting with $1.50 again as currencies still remain at the forefront of traders minds. Any bailout of Greece could shift attention from the Euro back on to Sterling.
The markets seem to be waiting for the ADP employment report in the US so futures are likely to be little changed until that is published.
By Arifa Sheikh-Usmani
Spread Betting Comment - 2 March 10 - 8:10am
Sterling remains under pressure this morning as markets continue to fear an impasse over budget deficit plans should a hung parliament become a reality.
Certainly most of our clients using spread bets seem to be selling in to small bounces in GBP.
Shares markets are, rather surprisingly, a touch higher as we see a small rebound in HSBC after yesterdays sell off.
Nevertheless, the focus of the markets will firmly remain on currency markets again today.
By Arifa Sheikh-Usmani
Spread Betting Comment - 24 February 10 - 8:25am
A mixed open in Europe, as Asia recovered overnight from earlier losses in the US.
The Consumer Confidence figure of just 46, the lowest since April last year, increased the general gloom surrounding US unemployment.
The Dollar was in demand again as the Consumer confidence figure was compounded with comments from MPC members illustrating their cautious views on the strength of the UK recovery.
On a day with limited macro news and without any major company results, all eyes today are on Ben Bernanke giving testimony at 15.00 GMT.
Focus will be on his answers to what is expected to be tough questioning on the motives behind hiking the discount rate last Thursday.
Is it just a “technical” move as he insists, or does it signal a more serious change in policy?
Furthermore what are his thoughts on the MBS asset purchase scheme? Does the hike in rates start the process whereby asset purchasing can begin as more solid signs of recovery are demonstrated?
By Richard Griffiths
Spread Betting Comment - 18 February 10 - 7:35am
The market is likely to open broadly unchanged this morning after a week of significant gains so far.
Traders will look to see if the FTSE still has enough momentum to push above the 5300 level, or if we will see some profit taking occur before the weekend.
Helping to find direction this morning will be the Bank of England money supply figures at 09:30.
In the US, the Weekly jobless claims and PPI are at 13:30, followed by January lead indicators and Phil fed business at 15:00.
By David Rees
Spread Betting Comment - 17 February 10 - 7:35am
We are calling the FTSE to start 20 points up at 5258 on the back off a strong rally in the US last night, with the Dow Jones itself finishing 169 points up at 10268.81.
Investors generally seemed more positive about the Greece debt problem being resolved.
In terms of data, the BoE Feb minutes are out at 09.30, as well as the UK’s January unemployment figure.
In the US we have Housing starts at 13.30 and capital usage/industrial production at 14.15
By Simon Rossington
Spread Betting Comment - 16 February 10 - 8:40pm
Barclays is trading fantastically well this morning as investors welcome their better than expected full year figures.
A large part of their pre-tax profit comes from their sale in the summer of BGI to Blackrock but their acquisition of Lehmans has also proved to be a canny and valuable buy.
Their positive news has boosted the whole banking sector this morning.
We have also seen a rebound in the Euro this morning, against the Dollar, and so commodities are also trading well.
There are still no concrete strategies in place for helping Greece, as long as that remains the case we may see more selling pressure on these small rallies.
By Arifa Sheikh-Usmani
Spread Betting Comment - 12 February 10 - 7:10am
We are calling the FTSE up 32 points at 5200 after a strong rally in the States last night and a good overnight session.
Japans economy grew at a faster rate than expected due to increased exports.
This has been dampened by disappointing 4th quarter GDP figures in Germany and the lack of clarity on Greece from the European Union.
We expect retail sales in the US at 13.30 and Michigan sentiment and business inventories at 14.55 and 15.00.
By Simon Rossington
Spread Betting Comment - 11 February 10 - 8:20am
We saw the market shift its focus slightly yesterday as Ben Benankes comments about normalising interest rates drove the Dollar higher.
In addition, overnight Australian unemployment figures and Chinese inflation boosted the markets.
Today, traders will be turning their eyes firmly back to Europe as they hope for a bailout of Greece when EU finance ministers meet later on. Depending on what is said we could see some real volatility driving the Euro/Dollar exchange rate.
Miners are dominating the gainers in the FTSE today, again on those Chinese inflation figures, but mainly after Rio Tinto published better than expected figures.
Credit Suisse also traded slightly higher after releasing their figures. Despite the fact that they missed analyst’s expectations, they did have a strong 2009 and are still ahead of rivals UBS.
By Arifa Sheikh-Usmani
Spread Betting Comment - 10 February 10 - 8:25am
There has been a relief rally across global markets as investors hope that German opposition to an EU bailout of Greece is waning and that a rescue package could be imminent.
Some of the biggest risers this morning in the FTSE are the stocks that have been hardest hit in the past couple of days such as Lloyds and Aviva.
Investors, however, are holding off celebrating yet and so we may still see some underlying weakness creep back into the equity markets and also in to the Euro.
By Arifa Sheikh-Usmani
Spread Betting Comment - 9 February 10 - 7:45am
The FTSE is likely to open about -14 points down at 5072.
A lower start is expected this morning, reversing Monday's rally following weak trading overnight on Wall Street and in Asia.
Sovereign debt fears continue to weigh on sentiment, seeing the Dow end the session below the psychologically important 10000 level for the first time since November.
There is little economic data due for release today; although December UK trade figures are at 9.30 and the December wholesale inventories from the US may attract some attention at 15.00.
On the corporate calendar, British Land and TUI Travel are due to report.
By Simon Rossington
Spread Betting Comment - 8 February 10 - 8:25pm
There is a stronger FTSE open this morning, although not managing to recuperate all its losses from the last session, after the valiant rally by the Dow on Friday.
The Dollar has retreated slightly overnight, against both Sterling and the Euro, which has prompted a small relief rally in commodities and hence the mining sector.
Talk of an imminent rescue package for Greece by the EU will give some stability to the markets but contagion fears have still not been completely banished.
Sentiment about this will continue to drive the markets today especially as there is not much other economic data to be published.
By Arifa Sheikh-Usmani
These comments do not constitute investment advice and neither Spreadex nor SpreadBets accept any responsibility for any use that may be made of them.
Article approved / provided by Spreadex which is authorised and regulated by the Financial Services Authority, register number 190941.
"Spread Betting Brief Comment" last update by Spreadex, 09-Mar-2010
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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