Spread Betting UK 15-16 September 2010
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UK Market Comment, 16 September 2010
Closing comments from Yusuf Heusen, Senior Sales Trader, IG Index:
Heading into the close it has been another uninspiring day of trading in London.
After starting the month off with some impressive gains, investors in London appear to becoming increasingly sceptical about whether there is much more upside left to come at the moment.
UK retail sales figures weren’t helping the cynical mood today after showing a surprise drop in August of 0.5%, a significant undershoot of the 0.3% growth the market was expecting.
Despite a buoyant time for shares over the last few weeks, the economic recovery still remains fragile as shown by our own retail figures today and a contraction in manufacturing data from the USA.
It doesn’t yet feel as if markets are quite ready to give up the gains seen this month, but traders are definitely looking for further convincing reasons to keep on buying, with the FTSE already up more than 5% for September already.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Dow Jones, where to find free charts, live pricing, how to trade etc >> Dow Jones 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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UK Market Comment, 15 September 2010
Closing comments from David Jones, Chief Market Strategist, IG Index:
Despite an eventful open on Wall Street, the FTSE may be looking at its first loss in six days as we head towards the close.
Next has been out in front all day after releasing positive half-year results this morning, the UK’s second largest clothing retailer was up around 6.2% at 3.45pm in London.
Kingfisher (+3.4%) and M&S (+3.32%) have also benefited. Miners and natural resource companies, however, have weighed on the FTSE this afternoon.
Falling commodities prices have put the likes of African Barrick Gold (-2.83%), Eurasian Natural Resources (-2.09%) and Lonmin (-1.71%) at the front of the wrong end of the index today.
The FTSE was beating a slight but consistent retreat for most of the day, but it has had a bit of a reaction to an eventful open on Wall Street in afternoon trading.
A slowdown in industrial production growth and a disappointing reading from the Empire State manufacturing survey led Wall Street to open in decline. However, gains from technology companies HP and Cisco Systems pushed the Dow back into the black, pulling the FTSE in the same direction as a result.
The index looks eager to break even in the final hour of trading to avoid breaking its recent winning streak, but the day’s general trend seems to suggest a late rally might be a difficult sell.
How and where to spread bet on:
Next, where to find free charts, live pricing, how to trade etc >> Next Spread Betting
African Barrick Gold, where to find free charts, live pricing, how to trade etc >> African Barrick Gold 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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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 UK 15-16 September 2010' edited by AG, updated 16-Sep-10
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Daily Closing Market Comments Index
Index of UK financial market trading articles - the regular closing market comments from IG Index...see Index.
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