FTSE 100 Trading Positively
In mid-morning trading the FTSE 100 is trading positively, up 89 points since opening.
Right now the UK’s leading index is trading above 4250, its highest level since the March lows. The banking sector led the way with Barclays trading at a 3-month high after RBS upgraded the banks stock to ‘buy’.
While the markets are benefitting from positive sentiment, it is unclear whether investors are viewing things with rose tinted glasses.
In reality the economic outlook is mixed. Last months slight increase in house prices has already been wiped out, with the Nationwide house-price index down -0.4%, and in Germany unemployment have risen to 8.9%, 25,000 more than expected.
Looking to the US, IG Index is quoting the Dow to open just below 8300, up around 110 points from yesterday’s close. While this morning’s opening makes a break from the recent atmosphere of doom and gloom, the fundamentals still indicate that this rally could come down with a thump.
Also see today’s market update, Spread Trading.
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 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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