FTSE 100 Rally Continues
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 11 September 09 - 8:20am
The rally that few people understand has continued today and it would take a brave investor to bet against the current momentum.
The FTSE seems to be trading pretty comfortably around the 5000 level and the continued weakness is giving it extra support as commodities push higher.
Strong Asian markets overnight have also contributed to the FTSE’s positive start this morning.
By Arifa Sheikh-Usmani
Spread Betting Comment - 11 September 09 - 7:30am
Following a strong finish in the states last night, the Ftse looks set to open up 30 back above the psychologically important 5000 level at 5015 further squeezing the bears that still remain.
It is a quite morning on the earnings front JD Wetherspoons being the biggest name to report, so traders will look economic news with August PPI output out in the Uk this morning and July wholesale inventories in the states later on in the afternoon
By Tom Salmon
Spread Betting Comment - 9 September 09 - 8:25am
A light day in terms of economic data so we should see a pretty quiet mornings worth of trading.
An OPEC meeting later on could affect the price of crude but they are expected to leave production unchanged in order to achieve price stability.
The FTSE is not far from 5000 and set recent highs yesterday so with a bit more positive sentiment, or if the rally in commodities continues further, we may see it push on to test those levels again.
By Arifa Sheikh-Usmani
Spread Betting Comment - 9 September 09 - 7:40am
American markets didn’t fulfill expectations of a rally to catch up with Europe and closed just below 9500, which seems to be a magnet for the index.
With the euro and pound posting large gains against the dollar, traders were given the perfect environment to push commodity prices higher which in turn boosted the markets.
Gold should see a pullback to 1000 today but the reaction to this is key for future direction
Ian Horsely
Spread Betting Comment - 8 September 09 - 11:00am
Manufacturing output, supported mainly by carmakers as a result of the Governments scrappage scheme, came as a welcome surprise and further boosted the markets confidence in the UK emerging from recession by the year end.
The encouraging UK data has caused a rally in Sterling versus both the Dollar and the Euro. However, it is important to remain cautious because although decline is obviously slowing that does not necessarily mean growth is the next step.
By Arifa Sheikh-Usmani
Spread Betting Comment - 8 September 09 - 8:20am
Sizeable deal talk has really given the European markets a boost in confidence this week as investors are buoyed by companies renewed appetite for M&A.
Very strong commodity prices this morning are boosting the miners yet again and are pushing the FTSE towards the magic 5000 mark.
By Arifa Sheikh-Usmani
Spread Betting Comment - 7 September 09 - 8:25am
A quiet days trading expected on the FTSE today, given the US Labour Day holiday and the lack of economic data.
The biggest news is obviously the rejected Kraft bid for Cadbury which was pitched at a generous premium.
This is the biggest deal news we have seen in the FTSE for some time, which will excite investors and has already pushed the share price up over 30%.
By Arifa Sheikh-Usmani
Spread Betting Comment - 7 September 09 - 8:30am
With very little economic or company earnings to sink our teeth into, focus will turn to the Cadbury bid and the wider affects of the proposal.
From a market sentiment point of view, takeovers are exactly what are needed to keep the rally going after a fairly sluggish week.
Trading will be very light due to the US bank holiday but after that volumes should increase daily all the way to the September Indices expiry
By Ian Horsely
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.
"FTSE 100 Rally Continues" last update by Spreadex, 11-Sep-2009
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