Middle East Tensions Push Crude Oil Spread Betting Market to Nine-Month High
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UK Market Comment, 24 February 2012
Closing comments from David Jones, Chief Market Strategist, IG Index:
Heading into the close, it looks like the FTSE 100 is set for a flat finish.
The muted finish for markets today is a good proxy for how this week has played out.
Monday’s initial euphoria in anticipation of a Greek bailout deal finally getting signed off faded quickly, with the rest of the week seeing the bulls and bears batting markets back and forth.
It still feels too early to call for the top of the rally that started in November, and which has seen the FTSE rise by 800 points in three months. However, it is clear that no one is currently falling over themselves to commit fresh money to equities at these levels.
Greece still remains the focus for many; over the past two years, plenty had thought a solution had been reached, only to see it dashed a little further down the line.
This caution would explain why we haven’t seen an explosion to the upside this week.
Plus, with crude oil setting nine-month highs on tensions in the Middle East, this introduces a fresh set of challenges for all sorts of different businesses if it remains at these elevated levels.
While the trend in the FTSE remains resolutely up, it is clear that this week has seen some of the positive momentum start to fade away.
How and where to spread bet on:
Crude Oil, where to find free charts, live pricing, how to trade etc >> Crude Oil Spread Betting
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 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
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UK Market Comment, 23 February 2012
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close the FTSE looks set for a positive finish.
Although blue-chips look set to finish slightly higher, it's been another day of predominantly choppy and directionless trading.
There has been plenty to digest, with RBS results the main talking point; market reaction has been positive, pushing the price up by around 3%.
However there still remains some reluctance among traders to get over excited about the medium-term prospects for the share price while the company is majority owned by the government.
Top blue-chip performer of the day is silver miner Fresnillo, clearly driven by the surge in the price of the metal today.
Broader market sentiment remains stubbornly the same as we have seen over recent weeks. This is a market where there is the appetite to go bargain hunting on any weakness, but it is still a struggle for much significant upside to be made past the 5900 level.
It is difficult to see which major event is going to shake investors up one way or another, so for now further relatively tight-range trading, flipping around the 5900 pivot looks likely in the days ahead.
How and where to spread bet on:
RBS, where to find free charts, live pricing, how to trade etc >> RBS Spread Betting
Fresnillo, where to find free charts, live pricing, how to trade etc >> Fresnillo 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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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.
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'Middle East Tensions Push Crude Oil Spread Betting Market to Nine-Month High' edited by AG, updated 24-Feb-12
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