Tight Range Trading on the FTSE 100 Index: Spread Betting Update
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
It’s been a relatively quiet start to the week’s final session in London.
The FTSE has been stuck in a tight range through the morning, with little in the way of fundamental data around to provide meaningful direction.
Early excitement surrounding the British Airways/Iberia merger is already ebbing away, with the airline now trading up just over 2%.
Although with energy prices inching upwards once again the oil & gas stocks are offering some support and could be worth watching into the afternoon session.
Many will now be turning their attention to Wall Street, where a strong start is forecast after yesterday’s sell-off.
There’s certainly scope to feel that the move lower may have been somewhat overdone, not least because a couple of big consumer players – Disney and Wal-Mart – both impressed with earnings news yesterday.
There’s also a flurry of economic data due from the US during the afternoon, but as it stands right now, it would be of little surprise to see something of a sideways drift into the weekend break.
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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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