UK Shares Financial Spread Betting News
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
In early morning trading there is little change to the FTSE 100 with RBS and British Airways topping blue chip gainers.
Both of these companies have reported numbers today. RBS has posted a £2.2 billion pre-tax loss for the last quarter and BA a first half loss of £292 million.
Market reaction has been strongly positive so far, with both up my more than 6% on the day although of course the share prices of both have suffered heavily over recent weeks.
RBS seemed quite cautious in its outlook and, despite today’s rise, the banking sector and the state-owned banks in particular still seem to offer little appeal for investors after some of the sharp gains already seen this year.
The main event for global markets today is the latest US unemployment release; the Non-Farm Payrolls are expected to show that around 175,000 jobs were lost in October.
Ahead of this, we are expecting the Dow Jones to start off the day little changed from last night’s close – but any early forecasts are fairly meaningless with the payrolls due ahead of the market open.
However, considering the strength seen by stock markets so far this week, it does look like the unemployment number would have to be much worse than expected to manage to put a dent in this current positive mood.
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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