Equities Spread Betting: UK Shares Show Some Resilience
Financial Market Comments from Yusuf Heusen, Senior Sales Trader, IG Index.
In mid-morning trading, shares in London have bounced back and reclaimed some of the ground lost yesterday.
Pleasing numbers from some blue-chip heavyweights has lifted sentiment this morning.
Telecoms business BT Group has seen profits rise in the first quarter thanks to cost cutting measures and pharma AstraZeneca has beaten expectations for second quarter profits and raised its forecast for the next one.
This has meant a strong start to the day for both shares which is helping to inspire a broad based rally across a mix of sectors.
There had been concerns that sentiment towards UK shares was on the turn in recent days, following the 10% plus rise for the index this month.
While the jury is still out on how much upside there is left from current levels, today’s positive earnings – and a further drop in German unemployment has helped inject a little enthusiasm back into trading.
Looking ahead to the US, we are expecting the Dow to start off around 40 points higher than last night’s close.
The 10,600 highs from June still remain the big hurdle for this index and with traders awaiting Friday’s release of the latest GDP numbers, we could be in for a day of treading water with no real direction.
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.
Good Luck!
DB
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.
1 comment
[...] How to Spread Bet. Indices · Forex · Commodities [...]
You must log in to post a comment.