UK Spread Betting Trading News
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A review of the spread betting markets.
For today's review see: Spread Betting Markets.
UK Spread Betting Trading News - 19 October 2011
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- FTSE 100 dipped 0.5% or 26.4 points to settle at 5,410.4.
- FTSEurofirst 300 index slipped 0.4% to 962.1.
- DJIA climbed 1.6% or 180.1 points to close at 11,577.0. NASDAQ rallied 1.6% or 42.5 points to settle at 2,657.4. S&P 500 gained 2.0% or 24.5 points to end at 1,225.4.
- Nikkei 225 index is trading 0.6% higher, at 8,796.7.
- In Asia, crude oil for November delivery is trading 26 cents lower at $88.08 per barrel.
- At 0400 BST today, the GBP is trading 0.2% higher against the USD at $1.5734, 0.1% down against the EUR at €1.1419 and 0.1% higher against the JPY at ¥120.68.
- For more on trading stock market indices see spread betting on indices.
- UK markets extended losses yesterday, led by mining and banking sector stocks, after data showed that China's economy in the third quarter, grew at the slowest pace since 2009.
- Among mining stocks, Rio Tinto skidded 4.3%, and emerged as the top laggard on the FTSE 100 index, amid worries over faltering global growth.
- Xstrata fell 1.3% after a mixed production update, while Randgold Resources retreated 1.8%, as gold prices lost ground.
- Among banking stocks, Royal Bank of Scotland fell 1.4%, after Morgan Stanley downgraded the stock to “Underweight”.
- Standard Chartered retreated 2.5%, after Singapore's investment company, Temasek Holdings, sold $513 million of exchangeable bonds.
- Retailer, Burberry Group declined 1.4%, as shares spread betting investors fretted over slowdown in sales in its key Chinese market.
- FTSE 100 dipped 0.5% to 5,410.4, while FTSE 250 slipped 0.7% to close at 10,178.9.
- Miners, Rio Tinto and Vedanta Resource lost 4.3% and 3.5% respectively, as copper for December delivery fell 0.5% to $3.36 per pound.
- Standard Chartered declined 2.7%, after Singapore’s Temasek Holdings sold $513 million of exchangeable bonds.
- Lonmin dropped 2.7%, as platinum for January delivery fell 0.7% to $1,540.70 per ounce.
- Oil producers, Tullow Oil and BP advanced 2.6% and 1.3% respectively, as crude oil for November delivery rose 2.3%, to $88.34 per barrel.
- Rolls-Royce Holdings gained 1.6%, after Morgan Stanley included the stock in its list of companies with long-term sustainable competitive advantages.
- British Sky Broadcasting Group added 1.6%, ahead of its first-quarter earnings report.
- For more on trading UK shares see spread betting on UK shares.
- At 0400 BST today, the GBP is trading 0.2% higher against the USD at $1.5734, 0.1% down against the EUR at €1.1419 and 0.1% higher against the JPY at ¥120.68.
- The EUR is trading 0.4% higher against the USD at $1.3781.
- The EUR is trading 0.2% higher against the JPY at ¥105.69, as most Asian equity markets traded higher, increasing the demand for high yielding assets.
- The WON is trading higher against the USD, amid speculation that a currency swap with Japan would be expanded.
- The AUD advanced against the JPY amid concern that Europe’s leaders would not be able to deliver a resolution to contain the region’s debt crisis.
- Yesterday, the GBP ended lower against the USD and JPY, as a rise in UK inflation damped prospects that the Bank of England would temper its bond-buying program after it was revived this month.
- The EUR ended lower against the USD, after Moody’s Investors Service cut Spain’s government bond ratings to “A1” from “Aa2”, reigniting concerns over Eurozone debt crisis.
- The CAD ended higher against all major currencies, as US equity markets and crude oil traded higher, increasing the demand for high yielding assets.
- For more on trading the forex markets see forex spread betting.
- Gold for immediate delivery is trading 0.3% higher today, at $1,662.4565 per ounce.
- Gold prices for December delivery declined 1.4% or $23.80 to $1,652.80 per ounce yesterday, as the dollar appreciated 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 26 cents lower at $88.08 per barrel.
- Yesterday, crude oil for November delivery closed 2.3% or $1.96 higher at $88.34 per barrel, amid hopes that economic growth would stabilize, after US equity markets closed higher. However, crude oil prices fell earlier in the session, after a report showed that Chinese economy in the third quarter grew at the slowest pace since 2009.
- 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 Spread Betting Trading News" last update by R Thomas, 19-Oct-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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