Spread Trading Markets Rise as Spanish and Italian Borrowing Costs Pull Back
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UK Market Comment, 06 August 2012
Closing comments from Ben Critchley, Sales Trader, IG Index:
Heading into the close the FTSE 100 has managed to put on yet another decent spurt, up around 40 points.
A combination of little major news and the usual low volumes for August has meant that today has been broadly uneventful.
The FTSE 100 has patiently added to its gains throughout the day, pushing back above the 5800 level for the first time since the beginning of May.
This come as better US jobs data and the hope of Eurozone action at some point in the near future keeps optimism in plentiful supply.
Drops in Spanish and Italian borrowing costs are being seen across the board, with the fall especially marked in two-year Spanish yields, now almost half what they were just two weeks ago.
Today's broad-based rally is also being helped by expectations of some easing from China, something that is always liable to cause a flurry of excitement.
For now, financial spread betting investors seem content with the prospect of active central banks in September.
Nevertheless, we still have most of August to get through, with plenty of scope for unfortunate surprises from various quarters of the Eurozone.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Italian Bonds, where to find free charts, live pricing, how to trade etc >> Italian Bonds 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, 03 August 2012
Closing comments from Chris Beauchamp, Market Analyst, IG Index:
Heading into the close the UK 100 has made triple-digit gains, up 120 points after a strong US jobs report for July.
Mario Draghi may have proved to be something of a let-down yesterday but thankfully the monthly Non-Farm Payrolls report has provided the necessary boost to finish the week on a strong note.
After three consecutive misses for Non-Farm Payrolls, the July report breezed past forecasts, with the US economy adding 163,000 versus an expected 100,000.
A small uptick in the unemployment rate to 8.3% and a sharp downward revision to the June numbers was unable to take the shine off the data.
Markets put on strong gains during the afternoon session, firmly recovering all of the ground lost in the wake of Mario Draghi's disappointing press conference yesterday.
Of course, such a strong reading from the Non-Farms does go some way to dispelling any expectations of further QE from the Fed. However, for now investors seem to be happy to swap the prospect of Fed intervention for the sight of an improving US economy.
Whether this, and the possibility of ECB bond buying later in September, is enough to sustain markets for the rest of August remains to be seen.
How and where to spread bet on:
UK 100, where to find free charts, live pricing, how to trade etc >> UK 100 Spread Betting
Dow Jones, where to find free charts, live pricing, how to trade etc >> Dow Jones 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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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 Markets Rise as Spanish and Italian Borrowing Costs Pull Back' edited by AG, updated 06-Aug-12
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