Positive Sentiment Pushes Indices Higher: Financial Spread Trading Report
Financial Market Comments from Philip Gillett, Sales Trader, IG Index.
Early trading has got off to a strong start this morning, with the FTSE 100 up by around 60 points so far.
We are seeing a mix of sectors leading the market higher.
Financials are having a good day with a lift given to the insurance sector by strong numbers from Allianz. Prudential is the biggest gainer here, up by around 4% so far.
The biggest winner out of the blue chips so far is satellite business Inmarsat, with third-quarter profits up by 34%. This has pushed the share price out to all time highs with traders still taking the view that there could well be more gains to come over the next few days, looking for a run to 650p as the first target.
Looking ahead to the US and at the moment we are expecting a similarly positive start to trading over there, with the Dow Jones currently expected to open about 70 points higher.
This would put it within 30 points or so of the highs set so far this year and could make for an interesting session this afternoon.
There’s nothing in the way of major economic announcements today – but with a slew of earnings data due out, there is the potential for this to add to the positive sentiment, and push the US index out to fresh all time highs for the year.
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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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