UK Financial Markets Spread Betting Update
Financial Market Comments from Philip Gillett, Sales Trader, IG Index.
The FTSE 100 remains fairly constant this morning, down just shy of 15 points after early trading.
Marks & Spencer is the biggest loser so far, down 4.5% after reporting festive sales that were slightly lower than estimated.
At the other end of the spectrum, RBS gained around 2.4% in early trading.
Adding to the slight downward pressure on equities, Nationwide Building Society announced data showing poor consumer expectations for the economy over the next six months.
They also revealed that confidence in December fell further than in any month since November 2008.
Meanwhile, Pimco, the world’s biggest bond investor, yesterday announced that UK borrowing was in danger of damaging the country’s credit rating.
Following this, the Government struggled to defend its monetary policy and reassure markets regarding potential forthcoming tax hikes.
Politicians are jockeying for position and the handling of Britain’s economic recovery remains one of the big battlegrounds.
For this morning at least the markets seem to be frozen in place – much like the rest of the country.
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.
2 comments
Lowest rates….?
super reading!
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