UK Financial Markets Update
Financial Market Comments from Anthony Grech, Market Strategist, IG Index.
In early morning trading the FTSE 100 is up around 18 points, reaching 4773 by 10.30 am (London time).
The property sector currently leads the charge, with both British Land co and Land Securities group among the early winners. British Land stocks have responded positively to reports in the Daily Telegraph that the company was potentially to be taken over by a consortium and stands at 513.00 points, a rise of 19.90 points on the day.
Kazakhmys, one of yesterday’s leaders, also continued its run. The miner was propelled further upwards by Goldman Sachs, who added Kazakhymys to its pan-European Conviction Buy List, and now sits at 941.50 points, a rise of 4.55%.
Recently both the UK and US markets has been heavily data-driven, with investors preferring to go off the back of hard figures as opposed to gut instinct.
The glut of better-than-expected releases we have seen recently has got the markets going again, with many analysts’ suggesting that we are now at the start of a recovery.
Today we have US CPI and Michigan sentiment data out and these releases may well spur the US market on. In the UK, however, there is not much data out there and it is debateable whether we will see a meaningful test of the 4800 level.
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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UK Financial Markets Update…
[Source: Financial Spread Betting Blog] quoted: 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….
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