FTSE Index Trades Lower as Central Bank Decisions Pass as Expected
|
|
 |
UK Market Comment, 8 December 2011
Closing comments from David Jones, Chief Market Strategist, IG Index:
Heading into the close the FTSE looks set to finish around 40 points lower on the day.
The two central bank interest-rate decisions passed as expected today with no change for the UK and a 25 basis point drop from the European Central Bank. But it was the comments in the press conference after which pushed markets lower, as Mr Draghi appeared to pour cold water on expectations of more bond purchases by the central bank.
This seemed to push responsibility firmly back on individual governments - a fact that perhaps still doesn’t sit too comfortably with a lot of indices spread betting investors.
Although the UK 100 has weakened today, it’s still very much in the range for the month so far. Overall, there is still a wait-and-see feeling to the market ahead of the latest EU summit which starts this evening.
How and where to spread bet on:
UK 100, where to find free charts, live pricing, how to trade etc >> UK 100 Spread Betting
Indices, where to find free charts, live pricing, how to trade etc >> Indices 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.
|
UK Market Comment, 7 December 2011
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close, the FTSE 100 looks set to finish down around 21 points, at around 5547.80.
We don’t know the name of the German official whose comments have torpedoed this morning’s rally, but he has certainly provided a nasty shock to markets.
The gains we saw this morning have disappeared entirely, and for a while it seemed as if a full-blown rout was in the offing for markets, with the FTSE down over 1%, and Wall Street turning decidedly bearish.
Essentially, this anonymous official has ruled out the idea that the Eurozone can get away with enforcing budget discipline via minor changes to legislation, which had been mooted by President van Rompuy.
Instead, Germany have insisted on a full-blown treaty change, which opens up a whole Pandora's Box of problems, not the least of which is getting new treaties past national parliaments without triggering referenda.
In addition, the official said that Berlin was less optimistic about making real progress this Friday than it had been a week ago.
This has been sufficient to send investors scurrying for safe havens, abandoning shares just as quickly as they rediscovered them last week.
There are still optimists out there though, since markets have managed to bounce off the lows for the day.
However, today has been the necessary, albeit uncomfortable, reminder that trying to get Eurozone politicians to agree is like herding cats; tricky, frustrating and a very lengthy process.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 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.
|
Risk Warning: Financial Spread Trading and CFDs carry a high level of risk to your capital. You may lose more than your initial investment. They may not be suitable for all investors. Only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved and seek independent financial advice where necessary.
Article provided / approved by IG Index which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 114059.
'FTSE Index Trades Lower as Central Bank Decisions Pass as Expected' edited by AG, updated 08-Dec-11
Related Articles:
Online Spread Betting Markets Struggle on Cyprus Bailout Speculation, updated 15-Mar-13
Spread Betting Comment - Stocks are offside this afternoon as traders lock in profits from recent gains. Online spread betting investors were not enticed to go long today with fears of a Cypriot bailout circulating; the island's financial woes have been...read article: Online Spread Betting Markets Struggle on Cyprus Bailout Speculation.
Stock Market Spread Betting: On-Going Eurozone Issues Halt Rally, updated 13-Mar-13
Spread Betting Comment - Has the over-exuberance of the stock markets over the last couple of days finally had a reality check, or are we merely pausing before our next leg higher? With on-going issues in Italy and Cyprus causing the Eurozone once again to...read article: Stock Market Spread Betting: On-Going Eurozone Issues Halt Rally.
Equity Spread Betting: FTSE Hits 5 Year High on Strong Non-Farms Data, updated 11-Mar-13
Spread Betting Comment - Equities are storming ahead after better-than-expected Non-Farm Payroll numbers helped drive the FTSE to a fresh five-year high. The US unemployment rate also dropped, to 7.7%, the lowest level since...read article: Equity Spread Betting: FTSE Hits 5 Year High on Strong Non-Farms Data.
FTSE 100 Spread Trading Market Rises Depite BoE Looking Unlikely to Add QE, updated 07-Mar-13
Spread Betting Comment - The FTSE 100 spread trading market is 20 points higher, showing a greater degree of enthusiasm for the current rally. With only a few months of his tenure left, it seems unlikely that Mervyn King will prompt any...read article: FTSE 100 Spread Trading Market Rises Depite BoE Looking Unlikely to Add QE.
FTSE 100 Shares Spread Betting: Serco Gains on Dividend Hike and Revenue, updated 05-Mar-13
Spread Betting Comment - In FTSE 100 shares spread betting, the king of the index was outsourcing firm Serco, adding over 9% as it hiked its dividend by 20% following a pick-up in revenue in the second half of 2012. Languishing at the bottom...read article: FTSE 100 Shares Spread Betting: Serco Gains on Dividend Hike and Revenue.
Rising Eurozone Unemployment Hurts European Index Spread Betting Markets, updated 01-Mar-13
Spread Betting Comment - European indices are offside after the Eurozone revealed yet another increase in the unemployment level, to 11.9%, the highest rate since the currency's creation. If this wasn't bad enough, we can now add an Italian hung parliament into...read article: Rising Eurozone Unemployment Hurts European Index Spread Betting Markets.
Equities Spread Trading: Petrofac Slumps on Concerns Over Full-Year Performance, updated 27-Feb-13
Spread Betting Comment - On the equity spread trading front, Petrofac has dropped the ball, with a less-than-impressive market outlook that has left many analysts scratching their heads and wondering about the company's targets for the...read article: Equities Spread Trading: Petrofac Slumps on Concerns Over Full-Year Performance.
UK Shares Spread Betting: RBS Rises on Speculation of American Stake Sale, updated 25-Feb-13
Spread Betting Comment - In UK shares spread trading, RBS topped the FTSE ahead of its full-year results on Thursday, adding 3.8% on speculation regarding the potential sale of up to 25% of its American arm; discussions are expected to take...read article: UK Shares Spread Betting: RBS Rises on Speculation of American Stake Sale.
GBP/USD Spread Betting Market Tumbles Despite Denial of Currency War, updated 21-Feb-13
Spread Betting Comment - Even though we have been told there is categorically no 'currency war' going on, currencies continue the race towards zero and GBP/USD is now at levels last seen in 2010. In the final days before...read article: GBP/USD Spread Betting Market Tumbles Despite Denial of Currency War.
FTSE 100 Spread Betting Market Surges on Excellent German ZEW Figures, updated 19-Feb-13
Spread Betting Comment - The FTSE 100 is enjoying a good day, up around 40 points, boosted by strong German sentiment data. Excellent figures from the German ZEW confidence index, which hit its highest level in almost three years, emboldened...read article: FTSE 100 Spread Betting Market Surges on Excellent German ZEW Figures.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Daily Closing Market Comments Index
Index of UK financial market trading articles - the regular closing market comments from IG Index...see Index.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
