UK Market Comment, 2 December 2011
Closing comments from David Jones, Chief Market Strategist, IG Index:
Heading into the close the FTSE is set to end off earlier highs, but still positive on the day.
Shares in London have been under some pressure this afternoon but still look set to end the week above the 5500 mark, having made gains of around 1% on the day.
This week has been the best weekly performance for the FTSE 100 in almost three years, with Wednesday's coordinated central bank action clearly adding a significant jolt of momentum for the shares spread betting market.
Sentiment has stayed reasonably buoyant today on pan-European union hopes of solving the debt crisis.
The only nagging doubt at the end of this week is that we have been here before – where the market takes its lead from political speeches but ultimately ends up being disappointed when policy doesn't follow as quickly.
This perhaps goes some way to explaining the sell-off this afternoon – some risk being reined in before the latest in a long round of European summits being held next week.
But after consistently falling into the end of November, this week's convincing recovery suggests that investors are still minded to err towards the positive when it comes to a resolution being found for Europe's debt problem.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Shares, where to find free charts, live pricing, how to trade etc >> Shares Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
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UK Market Comment, 1 December 2011
Closing comments from Ben Critchley, Sales Trader, IG Index:
Heading into the close, the FTSE 100 looks set to finish around 13 points lower after a day of varied but fairly limited moves.
With investors caught between the excitement of yesterday's coordinated central bank move and tomorrow's non-farm payroll figures, caution is the prevailing sentiment of the day.
The FTSE 100 has struggled hard all day to remain in positive territory, but it finally slipped into the red in the final half-hour of trading.
Strong debt auctions by France and Spain helped to keep investors in a positive frame of mind for most of the day. However with yesterday’s very strong upward move today was always going to result in some profit-taking as beleaguered investors opted to take some money off the table.
In the US the Dow fought to hold above the 12,000 level, but it too has slipped further during the day.
US weekly jobless claims spiked above 400,000 for the first time in several weeks, a rather worrying sign. Nevertheless an index of American manufacturing pointed to continued strong growth.
Ultimately, no one wants to get too carried away with this rally in advance of tomorrow's all-important news. For the moment, a degree of calm predominates.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Shares, where to find free charts, live pricing, how to trade etc >> Shares Spread Betting
The above comments do not constitute investment advice and neither IG Index nor Clean Financial accept any responsibility for any use that may be made of them.
IG Index » "With IG Index you get all the normal advantages of
Spread Betting plus 8000 markets, narrow spreads, advanced charting,
24 hour spread betting ..." » read
IG Index review.
|
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Daily Closing Market Comments Index
Index of UK financial market trading articles - the regular closing market comments from IG Index...see Index.
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