Spread Betting UK 22-25 January 2010
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UK Market Comment, 25 January 2010
Closing comments from Tim Hughes, Head of Sales Trading, IG Index:
Heading into the close, UK shares have given up early gains after disappointing US data.
After starting off much better than expected this morning, shares in London have run out of steam as the day has unwound.
Adding to the pressure was this afternoon's data out of the US showing that house sales dropped in December more than expected and, in fact, by the biggest annual amount in more than 40 years.
It has served as a reminder, if one was needed, that economic recovery is not going to be without at least the odd bump along the way.
Banking shares managed to hold on to some of their gains today.
RBS and Barclays were near the top of the leader board after investors re-evaluated last week's sell-off. The market seems to be thinking that the sell-off may have gone too far – at least until there is some flesh on the bones of President Obama's proposals.
In the UK all eyes are now on the release of the latest quarterly GDP data which, like last time, is finally expected to show that the UK has moved out of recession.
It is difficult to see much of a positive market reaction to this widely expected announcement. Traders will be hoping there are no nasty surprises in here and that the FTSE can start to form a base ahead of the 5200 level and snap the current losing streak.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
UK Shares, where to find free charts, live pricing, how to trade etc >> Spread Betting on Shares - FTSE 100 Companies
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,
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UK Market Comment, 22 January 2010
Closing comments from David Jones, Chief Market Strategist, IG Index:
Heading into the close, the UK market has recovered from its earlier lows but still remains down on the day.
Today has been dominated by the continued uncertainty following President Obama’s proposals to restrict the amount of risk available to banks.
Not surprisingly the likes of ICAP, Barclays and the London Stock Exchange have remained under the cosh as investors deserted the shares until there is at least some more clarity on exactly what form curbs on trading will take.
Although Friday has seen more falls for global stock markets, taking a step back from the short-term weakness, the FTSE 100 still remains in its 10-month recovery, despite having dropped back to where it was at Christmas.
With the latest UK GDP data out next week, and expected to show that the country has finally moved out recession, it may serve to put banking concerns to the back of investors’ minds for the moment and see the return of some positive sentiment.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
ICAP, where to find free charts, live pricing, how to trade etc >> ICAP 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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Article provided / approved by IG Index which is authorised and regulated by the Financial Services Authority (FSA), FSA Register number 114059.
'Spread Betting UK 22-25 January 2010' edited by AG, updated 25-Jan-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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