UK Shares Make a Positive Start to 2010: Financial Spread Betting News
Financial Market Comments from David Jones, Chief Market Strategist, IG Index.
In mid-morning trading, UK shares have got off to a solid start for 2010.
Shares in London have continued the strength seen in December with the FTSE on the brink of setting fresh 15 month highs.
So far this strength is proving to be broad based with no one sector leading the charge.
Cairn Energy is the day’s biggest gainer at the moment on further news of its drilling plans for Greenland in the later in the year.
After the always odd trading period in the second half of December, this week could well set the tone for the UK market in January.
The focus is firmly on retail, with many of the heavyweights such as Marks and Spencer and Sainsburys expected to reveal recent trading figures over the next couple of days.
Expectations are high following a large attendance at the Christmas sales. Strong retail numbers could help to lift stock markets further in the short-term.
This would come by showing that the UK consumer is finally feeling a little more optimistic and has once again started putting his hand in his pocket.
Looking ahead to the US, at the moment we are expecting a similarly positive start to trading with the Dow Jones expected to open around 50 points higher than last week’s close.
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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