Spread Betting on UK Futures March - UK Market News

Spread Betting on UK Futures March

UK Market Comment, 1 Apr

Closing comments from Anthony Grech, Market Analyst, IG Index:

Going into the final minutes of trading for the UK, the FTSE 100 is up a healthy three digits and near the highs for the day.

The UK market has been strong for virtually all of the session, with momentum boosted this afternoon by positive moves in the US. The news that the Lehman Brothers stock sale was oversubscribed has help lift the banking sector despite Swiss bank UBS announcing further sub-prime related write downs this morning.

Today has been a day when the sectors that have proved to be out of favour for most of this year – such as banking and retail – have seen the buyers piling back in and helping to push the index higher.

Retailer Kingfisher – which only last week halved its dividend – has been one of the main blue chip risers for the day, although there is still some scepticism as to how sustainable this recovery can be in light of the company’s relatively muted outlook for the year ahead. But this is probably true for a lot of today’s gainers and the rest of the week should help give us some insight as to whether the market really believes that a turning point has been reached.

After a gloomy performance in March, the FTSE 100 has managed in one day to push back to levels last seen at the end of February. The big test now is whether some of the levels that have proved to be a real problem over recent weeks, such as 5900, can be cracked this time around. More jittery traders may view today’s rally as something of a windfall and just an opportunity to get out of stocks at better prices than a couple of weeks ago. How the market performs over the next few days may well play a key part in setting the tone for April – and help decide whether this is just another false dawn or if bigger recoveries are going to be seen.

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.

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UK Market Comment, 31 Mar

Closing comments from David Jones, Chief Market Strategist, IG Index:

Going into the final hour of trading the FTSE 100 is trading down on the day but that only tells half the story of what has been a volatile session.

Coming into this morning UK stocks were expected to fall after another weak close on Friday took its toll and after the first hour of trading the index was already down by more than 100 points with a slew of downgrades hardly helping. What followed was an impressive recovery that actually managed to push the market positive on the day, with the FTSE briefly back above 5700 before losing ground again.

March is set to be another losing month for UK stocks with the blue chip index down by around 3.5% and by more than 10% for the first quarter of 2008. With reports last week suggesting that the UK has a 1 in 3 chance of going into recession, it is probably going to take at least a couple of months of positive economic data to calm the nerves of investors and see some longer term confidence return to shares. With share prices in the USA still unable to hold onto any meaningful recovery, the concern going into April will be that stock market weakness is here to stay for at least the short-term.

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.

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.

Article provided / approved by IG Index which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 114059.

'Spread Betting on UK Futures March' edited by AG, updated 01-Apr-08

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