Spread Trading B&Q

Spread Trading B&Q

UK Market Comment, 1 May

Closing comments from Anthony Grech, Market Analyst, IG Index:

Going into the last few minutes of trading it has been an inconclusive day, with the FTSE trading broadly unchanged.

There was very much ‘the day after the night before’ feeling to markets for much of the session. The US cut interest rates on Wednesday as expected and many traders read into the comments that this may mean the Fed is done for a while. Today saw the FTSE stage another run back above 6100 but this has lacked conviction, with the index constituents fairly evenly split between winners and losers on the day.

There was always a good chance that Thursday’s trading was going to prove ultimately fruitless. Focus now is on Friday’s Non Farm Payrolls due out of the USA. It is fair to say that investors have developed something of a tougher skin for less than positive news over the past few weeks, so it would probably take a reading quite a way below expectations to have any significant negative impact on the markets. There is something of a feeling that the stock markets may well have already priced in further economic slowdown in the US, limiting any real downside in the short–term. However it is difficult to see what the catalyst is going to be for further impressive gains over the next few days - so we could well be stuck with range bound markets for a bit longer.

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.

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UK Market Comment, 30 Apr

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

Going into the final few minutes of trading the FTSE 100 has managed to recover from earlier losses and push back above 6100.

The big gainer for the day so far has been Home Retail Group – owner of Argos and B&Q – with the share price up by 9%. The company unveiled full year profits 15% ahead of last year’s numbers, and not even a relatively cautious start for the year so far has dampened enthusiasm for the stock today. The group’s businesses could be thought by some to be particular vulnerable to a tightening in consumer spending and a slowing down in the housing market, but the company said that it does not expect full year forecasts for 2009 to change significantly.

Some investors seem to be taking the view that although there could well be worse to come for both UK property and the consumer, a lot of this doom and gloom may already be reflected in the share price of Home Retail Group as it is currently trading around 50% lower than the highs seen in May 2007. The last couple of months have seen a base formed above the 240p mark - but the more cautious will probably still want to see a more sustainable rally from current levels and not just a one day news driven surge.

Back to broader markets, all eyes are on the US interest rate announcement due out well after European markets close. Expectations are for a cut of 25 basis points. However, as usual, the focus will be on any accompanying statement and what implication that has for the US central bank outlook for interest rates and the economy over the coming months. Ahead of the announcement, US indices have managed to shrug off some of the weakness of the last few days – it remains to be seen whether this early enthusiasm is going to carry on after the news.

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 Trading B&Q' edited by AG, updated 01-May-08

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Risk Warning: Spread betting and CFD trading carry a high level of risk to your capital and you may lose more than your initial investment. Spread betting and CFD trading 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.

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