Spread Betting UK 25-26 March 2009

Spread Betting UK 25-26 March 2009

UK Market Comment, 26 Mar 2009

Closing comments from Tim Hughes, Head of Sales Trading, IG Index:

Going into the close for the UK, it's been a fairly directionless session for shares in London.

The day got off to a downbeat start with UK retail sales data showing a bigger-than-expected slide for February - consumers' worries about unemployment and heavy snow are thought to have taken their toll on the high street. Market reaction was muted and it seems that the next big focus for investors is going to be Friday's latest UK GDP numbers.

It is fair to say that it is even more difficult to call the next move in markets from current levels. The actions and comments by the US Federal Reserve over the past ten days has definitely kept momentum positive as far as US markets are concerned but this week our own market seems to have lacked direction.

Although it is difficult to see enormous amounts more upside from here, assuming the latest GDP data for the UK is no worse than expected, there could still be enough bullish sentiment around to tempt the FTSE into pushing up to the 4,000 mark in the short term.

How and where to spread bet on:

US Markets, where to find free charts, live pricing, how to trade etc >> Dow Jones

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, 25 Mar 2009

Closing comments from Tim Hughes, Head of Sales Trading, IG Index:

Going into the last hour of today’s trading, the UK’s leading index is slightly up on the day at 3919.93 (15:30 London time)

This morning’s positive start to the day did not last long with a torrent of bad news from both the retail and mining sectors pushing the index into reverse.

The real cause for concern though emanated from the government’s failure to find a buyer for £1.75 billon worth of 40-year gilts - attracting bids totalling only £1.62 billion.

Both the government and BoE governor Mervyn King have come in for fresh criticism over the failure to sell the gilts for the first time in seven years, with the government’s ability to borrow further funds to fight the recession now in question.

Like the UK, US markets opened positively this afternoon. This follows Barack Obama’s comments that overcoming the recession will take time, and more pertinently, that the US economy is heading in the right direction.

Growth in orders for durable goods and new home sales helped this morning’s rise, with General Electric Co. and Alcoa leading the way.

Whether President Obama’s comments are able to provide a sustained push higher will become clearer over the coming days, though today’s surprisingly positive new home sales data should be taken as a further positive sign that the US may be evidencing some of those green shoots of recovery.

Where to and How to spread bet on:

Indices, where to find free charts, live pricing, how to trade etc >> Indices Spread Betting
Forex, where to find free charts, live pricing, how to trade etc >> Forex 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 25-26 March 2009' edited by AG, updated 26-Mar-09

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Daily Closing Market Comments Index

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