UK Commodities Trading Signals
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A review of the commodities markets.
For today's review see: Spread Betting Markets.
UK Commodities Trading Signals - 23 November 2011
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- FTSE 100 edged down 0.3% to end at 5,206.8.
- FTSEurofirst 300 index declined 0.6% or 5.6 points settle at 914.2.
- DJIA edged down 0.5% to close at 11,493.7. NASDAQ slipped 0.1% to settle at 2,521.3. S&P 500 edged 0.4% lower to 1,188.0.
- Markets in Japan are closed on account of a public holiday.
- In Asia, crude oil for January delivery is trading 1.0% or $1.0 lower at $97.01 per barrel.
- At 0400 BST today, the GBP is trading 0.2% lower against the USD at $1.5615, 0.2% higher against the EUR at €1.1592, and 0.2% lower against the JPY at ¥120.26.
- For more on trading stock market indices see spread betting on indices.
- UK markets ended lower yesterday, paring earlier gains, as weaker-than-expected data on US third-quarter GDP growth and a surge in Spanish government bond yields at the recent auction, dampened market sentiment.
- Royal Bank of Scotland emerged as the top laggard on the FTSE 100 index, easing 5.8%, while Lloyds Banking Group declined 4.4%. This came amid concerns after a report stated that Germany's Commerzbank might need additional capital of about €5 billion.
- ITV retreated 3.1%, after a broker reiterated its “Sell” recommendation on the stock.
- International Consolidated Airlines declined 5.2%, amid speculation that it would face a potential strike action from workers over the firm's plans to launch a new airline next year.
- Among mining stocks, Anglo American and Rio Tinto dropped 0.4% and 0.9%, respectively, as base metals prices declined on demand concerns.
- FTSE 100 edged down 0.3% to end at 5,206.8. FTSE 250 lost 0.7% to settle at 9,703.1.
- Admiral Group gained 3.9%, amid speculation that it might pay a dividend of about 100p.
- Antofagasta added 2.4%, in line with a rise in base metal prices.
- Randgold Resources rose 1.9%, tracking higher gold prices.
- British Land advanced 1.5%, after Merrill Lynch upgraded the stock to “Buy” citing valuation parameters.
- International Consolidated Airlines fell 5.2%, as investors speculated that the company might face strike action from workers over plans to launch a new airline next year.
- Banking stocks, RBS, Lloyds Banking Group and Barclays fell between 3.1% and 5.8%, as risk appetite decreased among investors.
- ITV declined by 3.1%, after a broker reiterated its “Sell” rating.
- For more on trading UK shares see spread betting on UK shares.
- At 0400 BST today, the GBP is trading 0.2% lower against the USD at $1.5615, 0.2% higher against the EUR at €1.1592, and 0.2% lower against the JPY at ¥120.26.
- The EUR is trading 0.3% lower against the USD at $1.3471.
- The EUR is trading 0.3% lower against the JPY at ¥103.75.
- The GBP is trading lower against the USD, ahead of the release of the Bank of England’s November meeting minutes which is expected to show that Bank of England signalled at additional asset purchases in the coming months.
- The EUR is trading lower against the USD and the JPY, amid speculation that manufacturing activity in Germany and France declined this month.
- The AUD dropped against the USD, after HSBC Flash Manufacturing PMI for China dropped to 48 this month.
- Yesterday, the EUR ended higher against the USD. This came on hopes that the European sovereign debt crisis would be resolved, after the International Monetary Fund (IMF) disclosed additional tools to improve liquidity and financing needs of member nations affected during periods of heightened economic or market stress.
- The USD/CAD closed lower, after Statistics Canada reported that country’s retail sales grew in September at the fastest pace since November 2010, increasing demand for the currency.
- For more on trading the forex markets see forex spread betting.
- Gold for immediate delivery is trading 0.4% higher today, at $1,707.85 per ounce.
- Gold for December delivery gained 1.4% or $23.80 to settle at $1,702.40 per ounce yesterday. This came as escalating worries about European economies and lower-than-expected GDP growth data in the US, forced investors to purchase the yellow metal as a safe haven asset.
- In Asia, crude oil for January delivery is trading 1.0% or $1.0 lower at $97.01 per barrel.
- Yesterday, crude oil for January delivery added 1.1% or $1.09 to settle at $98.01 per barrel. This came as civil unrest in the middle-east countries, reignited concerns that supplies might be disrupted. Crude oil was also supported by a fall in the dollar against the euro.
- For more on commodities trading see commodities spread betting.
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Warning - as only a small percentage of the total contract value is required as deposit, it is possible for your losses to rapidly and substantially exceed that deposit. Seek advice if you do not fully understand the risks. Spread bets and CFDs carry high risk and are not suitable for everyone.
The above comments do not constitute investment advice and neither ETX Capital nor SpreadBets.org.uk accept any responsibility for any use that may be made of them.
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"UK Commodities Trading Signals" last update by R Thomas, 23-Nov-2011
Warning: Financial spread betting carries a high level of risk. You can lose more than your initial investment or stake. Financial spread betting may not be suitable for all investors. Only trade with money that you can afford to lose. Make sure you fully understand the risk involved. If necessary, seek independent financial advice.
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