Spread Betting Markets Snapshot

• FTSE 100 declined 3.6% or 189.5 to 5,102.6.
• FTSEurofirst 300 index dropped 4.1% to 910.1.
• US markets were closed yesterday on account of Labour Day Holiday.
• Nikkei 225 index is trading 1.2% lower, at 8,676.8.
• In Asia, crude oil for October delivery is trading 2.9 % lower at $84.0 per barrel.
• At 0400 BST today, the GBP is trading marginally higher against the USD at $1.6092, marginally higher against the EUR at €1.1435, and 0.1% lower against the JPY at ¥123.59.
• For more on trading stock market indices see spread betting on indices.

UK Spread Betting Markets

• UK markets closed sharply lower yesterday, led by losses in banks and miners. Investors remain concerned about the pace of global economic recovery, following worse-than-expected US jobs data last week and disappointing European services and manufacturing growth data.
• Banking stocks, RBS and Barclays, tumbled 12.3% and 7.5%, respectively, after US Federal Housing Finance Agency named the banks in a lawsuit filed over the sale of mortgage-backed securities.
• Miners, Kazakhmys, ENRC and Xstrata, slumped between 4.9% and 6.0%, tracking a fall in base metal prices. Miners also paced losses after Citigroup cut its demand forecasts for base metal prices.
• Antofagasta was down 5.2%, amid speculation that Chile was mulling to raise taxes.
• Oil stocks, Royal Dutch Shell, Cairn Energy and Essar Energy, plummeted between 4.4% and 5.0%, tracking lower crude oil prices.
• Retailer, Sainsbury, fell 3.5%, after Merrill Lynch downgraded the stock to “Underperform”.
• FTSE 100 declined 3.6% or 189.5 to 5,102.6. FTSE 250 fell 2.9 % or 296.9 point to 10,084.1.
• Insurers, Legal and General, Aviva and Standard Chartered, slumped between 5.4% and 6.3%, in line with a fall in equity markets.
• Xstrata plummeted 6.0%, as base metal prices retreated, and after Citigroup cut its demand forecasts for base metal prices.
• Randgold Resources rose 1.0%, as gold futures for December gained 1.3% to $1,902.80 per ounce.
• For more on trading UK shares see spread betting on UK shares.

Forex Spread Betting Markets

• At 0400 BST today, the GBP is trading marginally higher against the USD at $1.6092, marginally higher against the EUR at €1.1435, and 0.1% lower against the JPY at ¥123.59.
• The EUR is trading marginally higher against the USD at $1.4073.
• The EUR is trading 0.1% lower against the JPY ¥108.08.
• The EUR is trading lower against the CHF, amid speculation that German factory orders would decline in July, adding to worries that the European economic recovery would falter, weakening demand for high yielding assets.
• Yesterday, the USD closed higher against most other currencies, as lingering concerns about Eurozone’s ongoing sovereign debt crisis and a fall in global equity markets, prompted investors to invest in USD as a safe haven asset.
• The EUR ended lower against the USD, after an election loss for Germany’s ruling party and weak economic data from the Eurozone, decreased the demand for high yielding assets.
• The GBP / USD rate closed lower after an index of consumer sentiment toward hiring prospects in UK slid 13 points to minus 66 for August and the Engineering Employers’ Federation cut its UK manufacturing and economic growth forecasts last week .
• For more on trading the forex markets see forex spread betting.

Commodities Spread Betting Markets

• Gold for immediate delivery is trading 0.3% higher today, at $1,902.9 per ounce.
• Gold for December delivery rallied 1.31% or $25.90 to end at $1,902.80 per ounce yesterday. This came as mounting worries about European sovereign debt-crisis, weak US jobs data and a drop in China’s PMI, forced investors to purchase the precious metal as an alternative investment.
• In Asia, crude oil for October delivery is trading 2.9 % lower at $84.0 per barrel.
• Yesterday, crude oil futures for October delivery fell 3.3% or $2.85 to settle at $83.60 per barrel, amid speculation that a slowdown in global economy would curb demand, after China’s services index dropped to a record low in August.
• Crude oil traded lower amid speculation that the US services purchasing managers index (PMI) would grow at the slowest pace in August in more than a year.
• For more on commodities trading see commodities spread betting.