UK Banking Equities Update
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 16 October 09 - 8:30am
All eyes on Sainsbury’s this morning with hopes for further news about the rumoured Qatari bid. Shares are weaker, down 5p as jittery investors bail out.
Lloyds share price has benefited from news that it is offloading Halifax Estate Agencies for £1 to LSL Properties, shares are trading up 4p as selling the loss-making arm is part of the ongoing restructuring so the Lloyds can break free of government dependence.
National Express shares are down 28% as bid talks end, forcing it to consider a capital raising. This news is a blow to investors that have been buying into the shares on the way up expecting CVC Partner and the Cosmen family to go through with a bid in the near future.
By Sam Wright
Spread Betting Comment - 15 October 09 - 8:50am
Flat trading in the FTSE to start the day as investors wait for the tone of today’s trading to be set by US corporate earnings, so I would expect very little volatility until mid morning.
If we see those numbers coming in far ahead of expectations then the Dow Jones will comfortably hold on to its 10,000 level for the time being.
As well as corporate earnings we have a busy day ahead in terms of economic figures with CPI, weekly jobless, and Philadelphia Fed later on.
By Arifa Sheikh-Usmani
Spread Betting Comment - 14 October 09 - 8:30am
Strong figures and an optimistic forward looking statement from Intel has prompted a strong rally in the Dow futures this morning which in turn has boosted European markets.
A strong start to the Rio Tinto and Burberry share price this morning after both companies published their figures, giving the FTSE another boost.
Markets will be looking out for JP Morgan figures, the share price sold off yesterday in anticipation, and also Goldman Sachs, after being downgraded by Meredith Whitney, who are expected to beat analysts’ forecasts when they report on Thursday.
Traders will also be looking forward to the US retail sales figures, especially as there has been much debate recently whether consumer demand is returning or whether Government stimulus is the cause of better earnings.
Either way, the momentum is still very much with the bulls this morning so it would take a brave trader to go against the tide today.
By Arifa Sheikh-Usmani
Spread Betting Comment - 13 October 09 - 8:25am
Sterling continues its weakness this morning on expectations that interest rates in the UK will stay low for some time to come.
Investors will, therefore, be looking out for UK CPI; a low inflation figure could see Sterling take a tumble again.
A fairly flat start to the equity market in the UK, which will take its lead probably when ZEW economic sentiment in the Eurozone and US consumer Sentiment figures are released later.
Earnings season also kicks off tonight with Intel and so any late moves in the Dow could influence tomorrows trading.
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.
"UK Banking Equities Update" last update by Spreadex, 16-Oct-2009
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