A brief look at the markets over the course of the last week, supplied and sponsored by paddypowertrader.
Weekly Market Review: 10 Aug 2009
Indices continued their assured rise last week due to improved sentiment buoyed by a better than expected change in US nonfarm payrolls and pleasing earnings from big hitters such as HSBC and Barclays.
The Dow Jones finished up 2.34% at 9361 and the FTSE 100 gained 2.7% to 4720.
Interest rates were left by both the BoE and ECB. However the BoE spiced up their announcement with news that they are extending their Quantitative Easing by an additional £50bn, taking the total to £175bn.
Forex
Sterling/Dollar slipped to $1.6682 on the news having traded at over $1.70 earlier in the week.
Commodities
Brent Crude Oil continued to move higher, up 2.9%, helped by the rise in equities and more risk taking by traders. The technical picture looks good for a long trade as Brent closed at year-to-date highs.
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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.
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 News' edited by paddypowertrader.com, updated 10-Aug-09
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