Spread Betting Comment
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 6 July 10 - 09:10am
A refreshingly steady start across the board for the FTSE, as the dust finally seems to have settled in the outback over the consequences of the mining tax.
As a result, Rio Tinto and Xstrata have reinstated their stalled projects in Australia. Both shares hit 3-month lows last week, but investors’ appetites are increasing with time.
Strong interims from Balfour Beatty and Tullow Oil have also provided support for the index.
BP, which carried the index through yesterday’s relatively light trading, has attracted buyers yet again today. Investors seem to be turning a blind eye to the government’s doomsday planning scenarios should the company collapse.
By Christopher Purdy
Spread Betting Comment - 5 July 10 - 15:00am
Although the FTSE has traded roughly flat today, banks have been a dead weight for the index, with Barclays and RBS slowing any return back to the mid-June support level around 5300.
Investors are reluctant to accept the banks’ talk of growth as a real possibility. Barclays’ recent announcement of a joint venture in China isn’t being taken very seriously at this point as regulatory roadblocks have barred the project from moving into more meaningful territory.
RBS has traded down on comments from CEO Stephan Hester that he expects re-privatisation to begin this year, again signalling a general lack of confidence in the banking sector.
By Christopher Purdy
Spread Betting Comment - 2 July 10 - 9:05am
After a week of continuous losses on the FTSE, trading remains cautious this morning ahead of the Non Farm payrolls data.
Miners are trading higher, but at low volumes, after negotiations with new Australian PM Julia Gillard yielded a reduced tax rate applicable only to iron ore and coal.
Barclays is also trading higher in low volumes on news of its joint venture with SMBC was announced yesterday.
By Christopher Purdy
Spread Betting Comment - 23 June 10 - 9:00am
The sell-off in US equities after the European markets closed yesterday evening and the ensuing weakness in Asian markets overnight have forced a lower open on the FTSE this morning.
Our spread betting account holders trading activity is fairly muted as they assess the likely effects of the budget, though the overall sentiment is ‘it could’ve been worse.’
With a lack of news and earnings reports today to influence direction, the underlying sentiment is positive with the current weakness seen by some as a buying opportunity.
By Andrew Sykes
Spread Betting Comment - 17 March 10 - 7:55am
The FTSE is looking to open to up over 20 points this morning, at around 5645, following gains overnight on Wall Street and Asia.
The US Fed kept interest rates on hold last night and offered a more positive assessment on the US labour market.
Giving direction this morning will be the Bank of England minutes and unemployment data at 09.30 followed by US Feb PPI at 12.30.
By David Rees
"Spread Betting Comment" last update by Spreadex, 06-Jul-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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