Financial Spread Betting: Index Markets Struggle for Gains Ahead of Eurozone Summit
In mid-morning trading the FTSE is up around 15 points, although caution still predominates.
A few brave souls have edged into the index markets, but enthusiasm is distinctly lacking.
Most financial spread betting investors are opting to hold their ground and wait to see what decisions, if any, emerge from the Eurozone summit this week.
It would be hard to lower expectations any further, since we have been here many times before, but this time there is a sense that any lack of progress will be met with severe fallout.
The fundamental sticking point remains the fact that Germany refuses to pick up the bill for everyone else.
Comments from Governor Sir Mervyn King about the uncertainty surrounding the crisis really does underline the point that the future looks more worrying now than it has done for some time.
Dow futures are currently pointing to a slow start for Wall Street, with the likelihood being that our American cousins will replicate the quiet trading seen in Europe.
US durable goods and pending home sales figures are released this afternoon, but the centre of attention remains the upcoming Eurozone summit.
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 Chris Beauchamp, Market Analyst, 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.
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