UK Stocks Off to a Positive Start
Financial Market Comments from Tim Hughes, Head of Sales Trading, IG Index.
In early London trading, UK stocks have got off to a positive start, with the FTSE 100 up by around 10 points at mid-morning.
There has been a small flurry of M&A chatter helping the market tick along this morning, with National Express rejecting a bid from First Group and Vodafone apparently mulling over a possible T-Mobile takeover.
Apart from this, the market feels just how we left it last week – volumes are relatively low heading into the summer lull and there is not much commitment in either direction.
For all of last week the 4200 level underpinned the FTSE 100 index and this remains the level to watch this week, with a break below having the potential to accelerate further selling.
Looking ahead to the US, at the moment we are expecting the Dow Jones to open up broadly unchanged from Friday’s close.
With nothing of note on the economic calendar in the US today, and markets firmly stuck in narrow trading ranges over the last few days, it looks like it may well be, to put not too fine a point on it, a boring day ahead for traders.
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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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