Spread Trading UK 18-21 December 2009

Spread Trading UK 18-21 December 2009

UK Market Comment, 21 December 2009

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

Heading into the close, UK shares look set for a strong finish with the FTSE up by more than a 100 points so far.

Strength in the energy sector gave the UK market a lift early on today – and this is a trend that has continued.

The biggest mover so far is Cairn Energy – up by around 5% on the day, on surprise news that it was bringing a drilling project forward by around a year.

Appropriately enough for this time of year, the drilling will start off the coast off Greenland next summer and reaction by investors is that Christmas has come a few days early.

A strong start to US markets has meant that momentum has stayed strong into the afternoon, pushing the FTSE back above 5300 which will come as a welcome relief to some after some steady slides in recent days.

How and where to spread bet on:

FTSE Index, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Cairn Energy, where to find free charts, live pricing, how to trade etc >> Cairn Energy 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, 18 December 2009

Closing comments from David Jones, Chief Market Strategist, IG Index:

Heading into the final hour of trading it looks set to be a flat finish for shares in London.

It has been quite a volatile day for the FSTE, with a sharp rise in mid-morning trading caused by options expiries and thin volumes.

Since then the market has spent most of the time gradually giving back these gains, edging back to where it started the day.

The banking sector has been one of the biggest losers on the day, with Lloyds the worst performer here - down by around 5%.

This has been driven by the latest Financial Stability Report from the Bank of England, suggesting that banks still need to take steps to strengthen their balance sheets.

Bank shares have been out of favour for a few months now with investors seeming to take the view that the gains seen since the beginning of the year were more than enough for now.

Today’s reaction suggests that traders are still happy to give this part of the market a wide berth and it is difficult to see vast amounts of upside for the banks until the economy is on a much firmer footing.

How and where to spread bet on:

FTSE, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
UK Shares, where to find free charts, live pricing, how to trade etc >> Spread Betting on UK Shares

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 UK 18-21 December 2009' edited by AG, updated 21-Dec-09

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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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