Spread Betting and Equity Markets
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Spread Betting and Equity Markets

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A weekly review of the markets, supplied and sponsored by Spreadex.

For this week's review see Spread Betting Weekly.

Weekly Market Review: 28 Sep 2009

Indices

Equity markets took a breather from the rally with a rare down week.

The FTSE eased 1.5% to close the week at 5095, 5175 proving a resistance point.

In the States, the S&P lost 2.2% and the Dow 1.5% to close at 1044.4 and 9665 respectively following a poor Durable Goods report on Friday.

Despite this, the S&P is still 2.3% up on the notoriously challenging month of September.

Commodities

Brent Crude was a big loser on the week, falling $6 or 8.3% to $65.15 - a firmer Dollar, concerns about rising inventories and weak demand contributing to the slide.

Gold found resistance again at $1020 and notably closed the week well below $1000 at $994.5.

Silver failed to hang on to the $17 level and closed down 5.6% at $16.05.

Forex

The Dollar had a mixed week, falling to a new year low versus the Euro of €1.4826 before recovering to finish the week almost unchanged at €1.4703.

Sterling continues to fall against the Dollar though, losing another 2%, to close below the $1.600 level at $1.5942.

The Dollar continues to fall against the Japanese Yen, hitting ¥89.53, 9 month lows.

The Week Ahead

Once again all eyes will be on data from the US later in the week with weekly Jobless Claims on Thursday and the key Non Farm Payrolls on Friday.

We also have US Consumer Confidence figures out on Tuesday and Construction Spending on Thursday. DMGT, Man Group and Mulberry are some of the companies reporting interims this week.

The above comments do not constitute investment advice and neither Spreadex nor Clean Financial accept any responsibility for any use that may be made of them.


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Risk Warning: Spread betting carries a high level of risk to your capital and can result in losses larger than your initial deposit/stake. It may not be suitable for everyone, so please ensure you fully understand the risks involved.

Article provided / approved by Spreadex Ltd which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 190941.

'Spread Betting and Equity Markets' edited by DB, updated 28-Sep-09



Also see:

Spread Betting Weekly Index – Weekly reviews of some of the key spread betting markets from Spreadex.





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Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading 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.

The contents on CleanFinancial.com are for information purposes only and are not intended as a recommendation to trade. Nothing on this website should be construed as investment advice.

Neither CleanFinancial.com nor any contributing company/author accept 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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