FTSE 100 Spreads Fall on Poor Microsoft Data Ahead of German Bond Auction
It has been a distinctly lacklustre morning for the FTSE 100, with the main index down just 10 points.
A cautious mood has descended on markets, as a trio of upcoming bond auctions and a warning from Microsoft puts the dampeners on the rally seen so far in 2012.
Yesterday Wall Street proved unable to hold on to most of the stronger opening level, and the FTSE 100 has started today slightly downbeat.
Bond spread betting investors are watching for the results of a German five-year bond auction, mindful of the last auction of longer-term paper, which saw investor demand drop as a result of the Eurozone crisis.
Spain and Italy will also dip their toe into bond markets this week, providing plenty of opportunity for those ‘evil speculators’ to get to work once again.
Last night, tech giant Microsoft warned that sales of PCs had been disappointing in the final quarter of 2012, putting investors in a sour mood.
Looking ahead to the US open this afternoon, Wall Street is rather mixed, with the Dow projected to start up 16 points but the S&P 500 flat so far.
This evening the Fed will publish its latest anecdotal survey of the US economy, the ‘Beige Book’, which will provide some excitement on an otherwise dull day for economic data.
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 Yusuf Heusen, Sales Trader, 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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