FTSE Financial Spread Betting Update
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A quick commet on the spread betting markets, supplied and sponsored by Spreadex.
Spread Betting Comment - 30 October 09 - 8:35am
Despite an initially strong start the FTSE has fallen back to unchanged.
Strength in banking stocks was seen as a reason to sell out of positions and only Lloyds is maintaining early gains as it looks more likely, as time goes on, that it will manage to escape the government bail out plan.
The biggest gainer is Yell Group as it hangs on by the skin of its teeth, awaiting approval from two final lenders for refinancing approval.
The 95% threshold looks to be met today; shares are hopefully trading up 10%.
By Sam Wright
Spread Betting Comment - 29 October 09 - 8:20am
The market is trading slightly lower this morning after the Nikkei dropped back below 10,000 overnight and any earnings reported before the open are lacklustre including Standard Life whose sales figures missed expectations.
However if there is to be a turnaround this morning it will be led by the banks as Lloyds’ refinancing look set to be approved by the government, Lloyds currently up 3% at 83p.
Any upwards progress is likely to be stemmed by the US GDP figure, due out at lunchtime, which will be viewed with trepidation in the wake of the UK’s surprise negative growth figure last week.
By Sam Wright
Spread Betting Comment - 28 October 09 - 8:30am
Figures from BG and a sell off amongst miners and oil companies are leading the FTSE index lower this morning although volumes still remain quite low as they have been all week.
This is also contributing to the market running out of steam in the last few sessions – we have seen it meekly trying to test 5300 and selling off again a couple of times.
As always, market volatility will be dictated by commodity and Dollar moves, although we do have durable goods and home sale figures out later today, however, the market still seems to shrug off poor news after an initial sell off – as we saw with consumer confidence yesterday.
By Arifa Sheikh-Usmani
Spread Betting Comment - 27 October 09 - 8:25am
BP is dominating the FTSE this morning as it publishes stronger than expected figures largely due to cost cutting programmes, sending the stock surging up 5%.
In the morning session, market moves will probably be dominated by this and any commodity movements affecting the mining sector.
Later on, investors will be tentatively eyeing US consumer confidence figures after last months figures unexpectedly missed expectations as consumers continue to worry about the pace of recovery and unemployment levels.
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.
"FTSE Financial Spread Betting Update" last update by Spreadex, 30-Oct-2009
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