Bank of America Receives Boost as Leading US Indicators Improve
|
|
|
|
|
|
The regular trading review of the main UK, US and European markets, plus a quick look at the commodities and forex markets.
For today's report see Financial Trading Review.
|
Sponsered by
ETX Capital
|
Financial Trading Review - 20 June 2011
|
UK Trading Review
UK markets rose on Friday, amid speculation that the deadlock over Greece’s bailout package would be resolved soon by the European officials.
Precious metal miners, Fresnillo and Randgold Resources, paced gains, as gold and silver prices closed in the positive territory.
Banks, Standard Chartered, Lloyds Banking Group and Barclays, gained between 0.1% and 1.3%, on receding fears about new international capital requirements.
Among other miners, Rio Tinto was up 0.1%, as Tata Steel agreed to sell its stake in Riversdale Mining to the company.
A conviction buy recommendation from Goldman Sachs lifted the shares of Aggreko and Intertek, while commodity trading firm, Glencore International was in demand, as Charles Stanley cited the recent decline in shares as overdone.
FTSE 100 gained 0.3% or 16.1 points to 5,714.9. FTSE 250 advanced 0.3% or 29.9 points to 11,661.8.
European Trading Review
European markets ended higher on Friday, after France and Germany agreed on the rough terms of a second rescue package for Greece, lifting market sentiments.
Banks, Societe Generale and Credit Agricole, gained 2.5% and 2.4%, respectively, on hopes of a resolution to Greece’s debt problems.
Among other banks, Banca Popolare di Milano Scrl climbed 12.0%, amid reports that BNP Paribas had made an offer for the bank.
Insurers, Munich Re and Allianz, added 2.3% and 1.6%, respectively, in line with a rise in broader markets.
Zodiac Aerospace soared 5.6%, after the company reported higher-than-expected nine-month sales of €2.02 billion.
FTSEurofirst 300 index climbed 0.2% to close at 1,086.7. German DAX Xetra 30 gained 0.8% or 53.9 points to 7,164.1. French CAC-40 rose 0.8% or 31.4 points to settle at 3,823.7.
US Trading Review
US markets closed mostly higher on Friday, as worries over Greece’s second bailout faded in the wake of German Chancellor’s decision to not force the bond holders to bear a share of the burden of the Greek rescue package.
Airline stocks, Southwest Airlines, Delta Airlines and United Continental, rallied between 1.6% and 5.8%, as oil prices eased.
Among financial stocks, American Express, Bank of America and JP Morgan, advanced between 0.2% and 1.1%, as an index of US leading indicators recovered in May.
Rating agency Moody’s dropped 5.0%, after US Securities and Exchange Commission mulled fraud charges against rating agencies over ratings of collateralised debt obligations.
The NASDAQ ended in the red, as shares of Research In Motion plunged 20.7%, after the company’s dismal results and lower outlook forced downgrade from a slew of brokers.
DJIA added 0.4% or 42.8 points to 12,004.4. NASDAQ lost 0.3% or 7.2 points to close at 2,616.5. S&P 500 advanced 0.3% or 3.9 points, to settle at 1,271.5.
Forex Trading Review
At 0400 BST today, the GBP is trading marginally lower against the USD at $1.6148, 0.1% lower against the EUR at €1.1323 and 0.1% down against the JPY at ¥129.419. BBC reported that opposition Labour Party Treasury affairs spokesman, Ed Balls, is of the view that UK government budget deficit would be higher-than-expected.
The EUR is trading slightly higher against the USD at $1.4261. Investors awaited results of a motion of confidence in Greek Prime Minister George Papandreou’s government.
The EUR is trading marginally up against the JPY at ¥114.30, as most Asian markets traded higher, increasing the demand for the high yielding assets.
On Friday, the EUR ended higher against major currencies, after agreement between European political leaders buoyed Greek deal hopes.
Commodities Trading Review
In Asia, crude oil for July delivery is trading $1.07 lower at $91.94 per barrel.
On Friday, crude oil for July delivery closed 2.0% or $1.94 lower at $93.01 per barrel, amid constant uncertainties about weakening global growth and diminished demand.
Gold for immediate delivery is trading marginally higher today, at $1539.9 per ounce.
Gold prices for August delivery gained 0.6% or $9.20 to $1,539.10 per ounce on Friday, as the dollar fell against most of the major currencies, increasing the demand for the precious metal as a hedge against inflation.
Financial Trading News
For more daily views, news and analysis of the markets also see:
|
The above comments do not constitute investment advice and neither ETX Capital nor Clean Financial accept any responsibility for any use that may be made of them. Any prices or data are indicative and subject to change without notice; its accuracy is not guaranteed and should not be relied on.
ETX Capital »
"With ETX Capital you get all the normal
advantages of Spread Betting plus..." » read
ETX Capital review.
|
Risk Warning: Financial spread bets and CFDs are leveraged products and it is possible for losses to exceed deposits. Financial spread betting and CFD trading are not suitable for everyone so please seek advice if you do not understand the risks.
Article provided / approved by ETX Capital which is the trading name of Monecor (London) Limited, company number 00851820. Monecor (London) Ltd is authorised and regulated by the Financial Services Authority, registration number 124721.
'Bank of America Receives Boost as Leading US Indicators Improve' edited by ETX Capital, updated 20-Jun-11
Related Articles:
Financial Trading Review, updated 21-May-13
The daily trading review of the key European and US markets as well as a quick review of the forex and commodities markets. In the last trading session we saw...read article: Financial Trading Review.
Financial Markets Trading Review, updated 20-May-13
Financial Markets Trading Review - the regular trading review of the main US and European markets. There's also a quick look at the commodities and forex markets as well as...read article: Financial Markets Trading Review.
US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut, updated 18-Apr-13
Apple fell 5.5%, as its supplier, Cirrus Logic reported an inventory glut, which indicated that iPhone sales might fall short of market estimates. Cirrus Logic plunged 15.7%. Textron tumbled...read article: US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut.
Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale, updated 17-Apr-13
Coca-Cola rose 5.7%, as it reported first-quarter earnings that topped market estimates. The company also announced plans to sell some bottling distribution rights in...read article: Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale.
Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves, updated 16-Apr-13
Gold prices fell, as last week's reports about Cyprus selling its excess gold reserves to raise €400 million needed to finance its EU bailout. Also contributing to weakness...read article: Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves.
USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth, updated 15-Apr-13
The JPY is trading higher against its major peers, as an unexpected slowdown in China's economic growth weighed on risk sentiment and boosted demand for the yen as a...read article: USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth.
Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims, updated 12-Apr-13
US markets ended higher yesterday, with the Dow Jones and the S&P 500 climbing to fresh all-time highs, as a bigger than expected drop in US initial jobless claims boosted confidence that...read article: Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims.
European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid, updated 11-Apr-13
Deutsche Telekom has improved its bid for the proposed merger between its unit T-Mobile USA and MetroPCS Communications by reducing the combined company's debt by $3.8 billion to...read article: European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid.
US Stock Market Futures: AMD Surges on Links to Next Xbox Console, updated 09-Apr-13
Advanced Micro Devices surged 13.1%, as Microsoft Corp would use the company's chips in its next Xbox game console. General Electric and Lufkin Industries advanced...read article: US Stock Market Futures: AMD Surges on Links to Next Xbox Console.
GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech, updated 08-Apr-13
The USD is trading higher against its major peers, ahead of Federal Reserve Chairman Ben Bernanke's speech in Atlanta, US. The GBP/USD is trading slightly lower at...read article: GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Financial Trading Review Index - an index of financial trading reviews, with each review covering the forex and commodities markets as well as the main US and European markets.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
