Online Trading Market News
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A weekly look at the spread betting markets, supplied and sponsored by paddypowertrader.
For this week's review see Online Trading News.
Weekly Market Review: 3 Aug 2009
Traders who thought that the tradition of a quiet summer would hold true were right last week.
The FTSE 100 finished practically flat on the week, levelling out at 4597.
The recent rally in the UK has been fuelled by the stabilisation of financial stocks and the continuing advance of the mining sector, which is up 25% in the last three weeks.
In the US, the scare in China on Wednesday (on rumours of an impending tightening of monetary policy) and misses on the earnings front from both Shell and Exxon shook the markets a little, but the Dow Jones finished marginally up at 9171.
The DAX extended it's rally to three weeks, ending up 1.36% at 5334.
Forex
On the Forex spread betting front, markets finished strangely flat, with the Dollar pressured by US growth data.
In Europe, deflation fears were again coming to the fore as inflation fell deeper into negative territory. EUR/GBP fell by 1.40% to £0.8530, while GBP/USD ran up 1.67% to finish at $1.6703.
Commodities
Commodities continued to rise, as China's seemingly insatiable appetite for raw materials shows no immediate signs of abating.
Brent Crude rose to $71.42, and US Crude sneaked up 1.51% to 469.08. Despite some midweek volatility, Gold finished on the level for the week to end at $951.1.
The above content does not constitute investment advice. All reasonable efforts have been made to present accurate information.
Neither CleanFinancial.com nor paddypowertrader accepts any responsibility for any use that may be made of the above or for the correctness or accuracy of the information provided.
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Risk Warning: Spread betting carries a high level of risk to your capital. You may lose more than your initial investment. It 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.
Prices listed as per paddypowertrader's last quoted trading price of the week and therefore may differ to the official market close.
Article provided / approved by paddypowertrader which is a trading name of London Capital Group Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 182110.
'Online Trading Market News' edited by paddypowertrader.com, updated 03-Aug-09
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