Sharp Rise in Profits and Positive Outlook Boosts Hargreaves Lansdown
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UK Market Comment, 1 September 2011
Closing comments from Will Hedden, Sales Trader, IG Index:
After a mixed day’s trade and a late attempt at a rally, the FTSE 100 seems set to close little changed.
The session was unremarkable for many, with thoughts largely centred around the release of the Non Farm Payrolls tomorrow.
Better-than-expected manufacturing data out of the US helped to temporarily reverse earlier losses in London but the bulk of any gains have been short lived.
Such news doesn’t bode well for proponents of QE3, and the lifeboat full of cheap money that accompanies it. However, it is once again a reminder that things perhaps aren’t quite as bad as the doomsayers may on occasion make out.
Banks have been in focus today after a softer line from the UK government pushed back the timeline for restructuring.
The financial sector in general was also helped by Hargreaves Lansdown adding a significant 14% on the back of a sharp rise in profits and upbeat outlook.
Quite how markets will react to the payroll data remains to be seen. Against a backdrop of possible Fed intervention, it does seem like this could be a win-win situation for many investors.
With markets already well into a grinding recovery from the harsh selling of last month, there is scope for more profits to be booked quickly ahead of what will be a long weekend for Wall Street.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Hargreaves Lansdown, where to find free charts, live pricing, how to trade etc >> Hargreaves Lansdown 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, 31 August 2011
Closing comments from Will Hedden, Sales Trader, IG Index:
Encouraging economic data from the US gave the bulls some momentum, helping the FTSE 100 to a positive finish.
Traders, investors and pretty much anyone involved with the markets will be happy to see the back of August 2011. September is a traditionally bad month for equities, but we are seeing one final attempt at rescuing August’s performance figures before we get there.
European markets that have suffered most this month, like Germany, are leading the way as Europe’s main indices record gains of 2%-3%. However, US data and the prospect of QE3 continue to dominate today.
Since the crash in the first half of August, bad data has been seen as a reason for QE3 to happen, and good data has been seen as evidence of a stabilising economic recovery, either way equities are in favour.
The FTSE 100 started the month at 5815 and is looking to end it a little shy of 5400. Many investors have taken the opportunity to pick up some bargains for a rainy day, with many well-performing companies suffering in sympathy with the wider market.
Nonetheless, the effect of this month’s volatility should not be downplayed as it will have left a serious mark on how many game plans are re-written for the coming months.
We have not seen such widespread and sustained panic since March 2009, evidenced by the fact that safe-haven gold is still up around $180 this month.
Summer is drawing to a close and it’s been pretty bleak either side of office windows in London. The bulls are bouncing this week but the bears are keen to express that the downside risks remain. Is there a winter of discontent ahead?
How and where to spread bet on:
Gold, where to find free charts, live pricing, how to trade etc >> Gold 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
Spread Betting plus 8000 markets, narrow spreads, advanced charting,
24 hour spread betting ..." » read
IG Index review.
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'Sharp Rise in Profits and Positive Outlook Boosts Hargreaves Lansdown' edited by AG, updated 01-Sep-11
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