Shares Spread Betting: Stalled Greek Debt Talks Weigh on Banking Stocks
In mid-morning trade we have seen a turnaround in the FTSE’s fortunes so far today, with the index down 40 points.
Weakness in the banking sector is weighing on sentiment this morning, with RBS and Lloyds both off around 3%.
This has pushed the FTSE lower but it’s hardly a rout, with the index still trading above Monday’s morning lows.
This banking weakness is a trend across Europe as talks with Greek debt holders once more appear to have hit the buffers.
Some would say that the shares spread betting market is being surprisingly patient regarding these ongoing negotiations, but if this lack of progress becomes a recurring theme it seems unlikely that traders will continue having such a sanguine view.
Looking ahead to the US a quiet session on Wall Street last night saw the Dow finishing in the middle of the range and overnight markets suggest a weaker start today, down around 45 points.
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 Rupert Osborne, Futures Dealer, 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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