Spread Betting UK 19-20 August 2009

Spread Betting UK 19-20 August 2009

UK Market Comment, 20 August 2009

Closing comments from Philip Gillet, Sales Trader, IG Index:

Heading into the close it looks set to be a strong finish for UK shares.

After an early afternoon wobble, UK shares have regained momentum as the day has gone on, with the FTSE 100 hitting its best levels for the week so far - despite some ongoing negative news flow throughout the day.

July saw the worst ever Budget deficit for the UK and this afternoon has seen US initial jobless claims rise unexpectedly in the week to 15 August. It is a sign of how resilient markets are at the moment that investors have shrugged this news off and have been happy to keep on buying.

Looking ahead the next objective that many are eyeing up for the FTSE 100 is the 4800 mark – the way momentum is going at the momentum this could well be dispatched in very short order.

After that 5000 is the big one and many feel that this rally is going to reach at least as far as that barrier in the medium term. This week has shown that after the sharp falls seen on Monday market sentiment is still positive, while the overriding fear at the moment seems to be of missing the boat as the market pushes higher.

How and where to spread bet on:

FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Equities, where to find free charts, live pricing, how to trade etc >> Spread Trading Equities

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, 19 August 2009

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

As we approach the final stages of trading in London the FTSE looks set to break even on the day.

The UK index has spent most of the day clawing back the losses it made on opening, helped by a better-than-forecast start to trading on Wall Street.

Equities managed to dodge the impact of news that Mervyn King wanted to pump a further £25 billion - beyond the (already surprising) extra £50 billion – into the UK economy.

The Pound bore the brunt of the bearish sentiment caused by the prospect of a £200 billion stimulus package. Sterling fell against every major global currency as investors saw the revelation that there was scope for further QE as a sign of fundamental and ongoing economic weakness.

While the exceptional bullishness of late seems to have been tempered, equities are nevertheless showing resilience and short-term weakness continues to be a buying opportunity rather than a cause for panicked sell-offs.

Investors will be looking to the 4700 mark as a conservative target in the coming days – at the moment it appears to be a point of resistance, but a serious charge higher may turn this into a support level from which to aim for new highs for the calendar year.

How and where to spread bet on:

Forex, where to find free charts, live pricing, how to trade etc >> Forex 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.

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 19-20 August 2009' edited by AG, updated 20-Aug-09

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Daily Closing Market Comments Index

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