Spread Betting Markets Snapshot

• In spread betting the FTSE 100 slumped 4.7% or 246.8 points to close at 5,041.6.
• FTSEurofirst 300 index declined 4.7% or 42.8 points to 875.3.
• DJIA tumbled 3.5% to close at 10,733.8. NASDAQ plunged 3.3% to settle at 2,455.7. S&P 500 slumped 3.2% to end at 1,129.6.
• Japanese markets are closed on account of a public holiday.
• In Asia, crude oil for November delivery is trading 0.4% or $0.29 higher at $80.80 per barrel.
• At 0400 BST today, the GBP is trading 0.1% higher against the USD at $1.540475, 0.1% lower against the EUR at €1.1382, and 0.2% higher against the JPY at ¥117.542.
• For more on trading stock market indices see spread betting on indices.

Spread Trading UK News

• UK spread betting markets tumbled yesterday, led by a sharp drop in commodities sector stocks, following the US Federal Reserve’s gloomy assessment of the economy, and S&P’s downgrade of Italian banks late Wednesday.
• Among mining stocks, Vedanta Resources, the top loser on the FTSE 100 index, slumped 13.3%, while BHP Billiton, Rio Tinto, Kazakhmys and Antofagasta tumbled between 8.3% and 12.7%, amid fears over demand prospects and as the preliminary HSBC China Manufacturing PMI fell in September.
• Energy stocks, Royal Dutch Shell, BP and BG Group, slipped between 3.4% and 6.2%, as oil prices lost ground.
• Among banking stocks, Royal Bank of Scotland, Barclays and Lloyds Banking eased between 5.7% and 10.1%, amid erosion of risk appetite in the wake of downgrade of US banks by Moody’s and Italian banks by S&P.
• FTSE 100 slumped 4.7% or 246.8 points to close at 5,041.6. FTSE 250 slid 3.7% or 377.7 points to settle at 9,888.3.
• Miners, Vedanta Resources, Antofagasta and Xstrata, plummeted between 9.6% and 13.3%, tracking lower base metal prices.
• Fresnillo tumbled 11.7%, as silver prices retreated.
• Banks, Lloyds banking Group and Barclays, slumped 9.4% and 10.1% respectively, tracking a fall in their US and European peers, after Moody’s Investors Services downgraded three US banks.
• Burberry Group plunged 9.8%, as a slowdown in global economy raised worries about future demand for luxury goods.
• For more on trading UK shares see spread betting on UK shares.

Forex Spread Betting Markets

• At 0400 BST today, the GBP is trading 0.1% higher against the USD at $1.540475, 0.1% lower against the EUR at €1.1382, and 0.2% higher against the JPY at ¥117.542.
• The EUR is trading 0.2% higher against the USD at $1.3533.
• The EUR is trading 0.3% higher against the JPY at ¥103.267.
• The EUR is trading higher against the JPY and USD, as Bank of France Governor Christian Noyer stated that the nation’s banks would be able to handle a default by Greece, following a meeting by the G-20 nations’ policy-makers with the IMF and World Bank.
• The AUD and NZD are trading higher against the USD, as Finance Ministers and central bankers from the G20 nations guaranteed a “strong and coordinated” response to challenges facing the global economy.
• Yesterday, the EUR ended lower against the USD, as a decline in US equity markets, and weaker economic data from both China and the Eurozone, increased concerns of a slowdown in the global economy, decreasing the demand for high yielding assets.
• The CAD closed lower against the USD, as lower commodity prices decreased the demand for the commodity linked currency.
• For more on trading the forex markets see forex spread betting.

Commodities Spread Betting Markets

• Gold for immediate delivery is trading 0.2% higher today, at $1,745.19 per ounce.
• Gold prices for December delivery plunged 3.7% or $66.40 to settle at $1,741.70 per ounce yesterday, as the dollar rose against the major currencies, decreasing the demand for the precious metal as a hedge against inflation.
• In Asia, crude oil for November delivery is trading 0.4% or $0.29 higher at $80.80 per barrel.
• Yesterday, crude oil for November delivery declined 6.3% or $5.41 to end at $80.51 per barrel, amid concerns that a slowdown in global economy would curb demand, as the Federal Reserve signalled “significant downside risks” to the US economy, and following report that showed manufacturing activity in China contracted for the third straight month in September.
• The crude oil also lost value, as the rise in dollar decreased the demand for the commodities as an alternative investment.
• For more on commodities trading see commodities spread betting.