Spread Trading UK 15-18 May 2009
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UK Market Comment, 18 May 2009
Closing comments from Anthony Grech, Market Strategist, IG Index:
Going into the close, today has seen a solid performance by UK stocks.
After an initial opening wobble, shares have made solid progress throughout the day, helped along by a strong start to trading in Wall Street.
Lloyds Banking Group has topped the blue chip gainers for the day following news that the chairman will be stepping down next year.
This bounce back has reclaimed most of the losses from the past week but many traders still feel that the best is behind the banking recovery, for the short term at least, and are sceptical about how much upside is left after today’s move.
For the wider market, today’s rally has reclaimed a large chunk of the ground given back towards the end of last week, but again many seem to be resigning themselves to sideways trading sessions over the next few weeks.
A run back up to test the highs around 4500 looks achievable, but it still remains difficult to see what is going to emerge to propel the market out to fresh highs at the moment.
How and where to spread bet on:
UK Stock Market, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Lloyds Banking Group, where to find free charts, live pricing, how to trade etc >> Lloyds 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.
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UK Market Comment, 15 May 2009
Closing comments from David Jones, Chief Market Strategist, IG Index:
Heading into the final hour of trading, the FTSE 100 is just down on the day, following few tentative signs of activity this morning.
Banks had earlier given a boost to the UK markets, as Barclays’ reported plans to sell its Global Investors arm caused a leap in its share price. That was mirrored by other banking groups.
However, the gloom continues as oil prices slumped back towards the $58 mark and news of deepening recession in Europe dashed hopes of a rise in energy demand.
Meanwhile on Wall Street the day began with a round of selling led by poor results in the retail sector.
By 3pm the UK’s blue-chip index was roughly flat around 4353, despite this morning's gains continuing yesterday's positive end-note.
With the 4400 mark acting as a turning point in mid-morning trading, the FTSE is on course for its first weekly loss in five weeks.
With the lack of any substantial corporate news to chew on this morning, and the afternoon US CPI report not shaking the bulls awake, we are back to asking whether this calm is likely to remain into next week, or if the FTSE will hit some turbulence.
How and where to spread bet on:
Oil Prices, where to find free charts, live pricing, how to trade etc >> Crude Oil Spread Betting
Barclays, where to find free charts, live pricing, how to trade etc >> Barclays 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 UK 15-18 May 2009' edited by DJ, updated 18-May-09
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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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