FTSE 100 Spreads Fall Despite BT Group Pension Deficit Plan
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UK Market Comment, 23 March 2012
Closing comments from Will Hedden, Sales Trader, IG Index:
The week looks set to end meekly, with markets currently enveloped in a sea of red.
There's no denying we're heading for a largely disappointing end to the week, both at home and across the pond.
The main piece of economic data from the US today has added to the gloom emanating from China and naturally, the Eurozone, after purchases of new US homes failed to meet expectations and fell for a second month in February.
Sales missed the expected figure of 325,000 new home sales, coming in at 313,000.
On Wall Street, shares in KH Home, one of the country's biggest housebuilders, dropped by more than 11% after a sharp slowdown in new home orders further dented hopes for the US housing market.
At home, the UK's blue-chip index is off by 12 points, with Randgold (-4%) continuing to struggle due to the political problems in Mali.
At the other end of today's leaderboard, BT Group is the standout, climbing 6% after announcing plans to halve its pension deficit by the end of the year.
The question mark now is whether markets have further to fall, having still climbed significantly in 2012.
For example the S&P 500 is down around 1% for the week, having risen 10.3% for the year so far, and 26% from its October low.
Next week should go some way towards providing a strong clue, as we await a string of data mainly from the US, including Chicago and Richmond Fed indexes, durable goods figures and the influential Michigan consumer sentiment survey.
In the UK, final Q4 GDP is the highlight of a quieter roster.
How and where to spread bet on:
BT Group, where to find free charts, live pricing, how to trade etc >> BT Group Spread Betting
Randgold, where to find free charts, live pricing, how to trade etc >> Randgold 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, 22 March 2012
Closing comments from Rupert Osborne, Futures Trader, IG Index:
Heading into the close, the FTSE 100 remains near its lows for the day so far.
After a quiet session yesterday, the pressure has resumed on blue-chips, pushing the FTSE back towards two-week lows.
A slew of weaker economic data is the reason behind the slide.
Poor manufacturing numbers from China, France and Germany have served to highlight the fragility of recovery.
In addition a larger-than-expected drop in UK retail sales has reminded investors just how tough business on the UK High Street continues to be.
Weaker manufacturing data always hits the mining shares the hardest, and today is no exception.
Although this can sometimes over-exaggerate the FTSE move, weakness on Wall Street demonstrates that a slightly pessimistic tone has continued this week.
It is important to keep the slide in perspective; blue-chips fell off a cliff at the beginning of the month, only to bounce back to fresh highs.
So for now, this still appears to be a form of correction and not the beginning of something more serious, with the market still well-supported ahead of the lows for the month.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Wall Street, where to find free charts, live pricing, how to trade etc >> Wall Street 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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'FTSE 100 Spreads Fall Despite BT Group Pension Deficit Plan' edited by AG, updated 23-Mar-12
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