UK Shares Trade Higher After Abu Dhabi News
Financial Market Comments from Tim Hughes, Head of Sales Trading, IG Index.
In mid-morning trading UK shares are sitting on healthy gains with the FTSE back above 5300.
So far this morning we have seen a fairly broad based rally. The news that Abu Dhabi is providing $10 billion to Dubai World has helped to ease any remaining jitters about the debt situation.
This gave a life to the financial sector, particularly the likes of Standard Chartered, as London started off by continuing to build on the recovery seen at the end of last week.
Looking ahead to the US, at the moment we are expecting the Dow Jones to start off around 50 points higher than Friday’s finish. The Dubai-inspired strength in Asian markets overnight has helped to lift sentiment around the world.
There is little of any note on the economic calendar for today so a strong early start could point to a steady but positive session ahead.
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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