Easing Commodities Weigh on UK Mining Stocks
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UK Market Comment, 3 May 2011
Closing comments from Ben Critchley, Sales Trader, IG Index:
Heading into the last hour of trading, it has been something of an uninspiring day for shares in London.
After opening positively, sentiment has been on the back foot for most of today with blue-chips struggling to hang onto any meaningful rallies.
Weakness amongst the big mining stocks due to easing commodity prices was always going to be a big hurdle for the index to overcome, and this has been the case all day.
Wall Street has made a better-than-expected start, but with the turnaround seen in the US yesterday it could be a couple of cautious days ahead.
The death of Osama bin Laden is arguably having little or no effect today.
Investors are wary of the potential for retaliatory attacks, so there is no real elevation for shares following the news on Monday.
With US Non Farm Payrolls due out this Friday, and solid gains for most stock markets during April, the next couple of days in the markets could well be somewhat quieter than what we have been used to lately.
How and where to spread bet on:
UK Shares, where to find free charts, live pricing, how to trade etc >> UK Shares Spread Betting
Commodities, where to find free charts, live pricing, how to trade etc >> Commodities 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,
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UK Market Comment, 28 April 2011
Closing comments from David Jones, Chief Market Strategist, IG Index:
It’s been a quiet day for the London index as the market eases into another long weekend.
Looking at the photos, it’s hard to believe that there are many City traders amongst the crowds already lining the streets outside Westminster Abbey, but judging by the market’s performance today, it seems clear that few are at their desks.
Rather than cheering last night’s gains from Wall Street, we’ve had a relatively relaxed unwinding into the second successive long weekend and underlying volumes on the FTSE 100 can perhaps best be described as being through the floor.
We saw some late buying once US markets had reopened, but this is looking short-lived.
With London set to be shut for two days when both Frankfurt and New York are in full swing, it’s perhaps no surprise that many are simply seeking to take money off the table and batten down the hatches in the short-term.
Next week, as markets regain their usual momentum, we’re set to see the agenda being dominated by earnings news from a number of the UK banks, along with the US Non Farm Payrolls on Friday.
The Fed’s ongoing commitment to stimulating the US economy should have positive implications across the globe.
However, it’s also worth bearing in mind that as the quarterly earnings season winds down, markets may once again struggle to find the legs to extend the recent rally, especially if key economic readings keep failing to make a real impression.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Wall Street, where to find free charts, live pricing, how to trade etc >> Wall Street 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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'Easing Commodities Weigh on UK Mining Stocks' edited by AG, updated 03-May-11
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