UK Shares Spread Betting: Vodafone Sees Gains on Indian Tax Ruling
In mid-morning trade, the FTSE 100 is little changed on the day.
Honours for UK shares are split fairly evenly so far this morning between winners and losers, although there has been some reasonable volatility for the FTSE 100 index going into today’s options expiry.
Vodafone is an early gainer on a ruling by a court in India that it will not be liable for taxes following its acquisition of Hutchison Telecom.
But overall, these are still very quiet markets, last night the volatility index, the VIX, dropped to its lowest levels since July 2011.
While some would see this as complacency by spread betting markets, the lack of reaction to recent events such as the French downgrade does imply that markets taking ongoing developments in the Eurozone crisis in their stride.
Looking ahead to the US open, at the moment the expectation is for the Dow to start around 15 points higher this afternoon.
Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
The above comments do not constitute investment advice and Clean Financial accepts no responsibility for any use that may be made of them.
Content provided by IG Index which is Authorised and regulated by the Financial Services Authority. FSA Register number 114059.
January 20, 2012 No Comments