Spread Trading UK 8-9 July 2009
|
|
 |
UK Market Comment, 9 July 2009
Closing comments from Tim Hughes, Sales Trader, IG Index:
Heading into the close, UK shares look set to finish the day broadly positive.
Once again the charge higher is being led by the mining sector, with better than expected numbers from Alcoa following the close of US trading yesterday, which gave the sector a boost.
A nagging concern remains however – as the smaller than expected loss by Alcoa seems to have been achieved mainly by cost-cutting, rather than any expansion in its business.
It would not be surprising if this knee jerk bounce ran out of steam soon.
As expected the Bank of England kept interest rates unchanged and will not be increasing quantitative easing at the moment.
This has provided a small amount of relief to the market, but the main benefit was felt by the pound, rather than individual stocks.
Although we have seen a small recovery by the FTSE 100 today it does not change the fact that this is a market that still remains weak and unable to hold onto any strength for very long.
Traders still seem happy to view rallies as selling opportunities – rather than believing it is the start of a more extended recovery.
Many are still eyeing the possibility of a slide back to 4,000 before July is out.
How and where to spread bet on:
The Pounds, where to find free charts, live pricing, how to trade etc >> GBP/USD Spreads, EUR/GBP Spreads
Interest Rates, where to find free charts, live pricing, how to trade etc >> Interest Rates 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.
|
UK Market Comment, 8 July 2009
Closing comments from Anthony Grech, Market Strategist, IG Index:
Going into the close of trading, the FTSE is slightly down on the day.
It has been a sluggish trading day in London, with the biggest fallers coming from the insurance sector.
Aviva fell 6.5% since the open following talk that the insurer is planning to cut its dividends, also suffering were Prudential and Legal & General, down 4.49% and 6.81% respectively.
Looking at today’s winners, clothing retailer Next finds itself on the front foot, while energy firm BHP Billion is in a strong position despite its recent sell-off and currently leads the pack, up 1.61%.
In the City today, eyes will have been focussed on Alistair Darling’s plans to impose tougher regulations on the financial services industry.
Proposals include making banks hold higher levels of capital and to increase liquidity, as well as strengthening the FSA’s powers.
Whether this attempt to boost confidence in the financial sector will work is up for debate; it will take a lot more than words to reanimate investor interest, especially in the summer months, when trading is traditionally muted.
Investors will now be looking to see whether the proposals will have any significant impact and, if they do, whether they will revive confidence in the financial sector or simply act as an unwelcome restraint on the battered banks.
How and where to spread bet on:
Aviva, where to find free charts, live pricing, how to trade etc >> Aviva Spread Betting
Next, where to find free charts, live pricing, how to trade etc >> Next 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.
|
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 8-9 July 2009' edited by DJ, updated 09-Jul-09
Related Articles:
Online Spread Betting Markets Struggle on Cyprus Bailout Speculation, updated 15-Mar-13
Spread Betting Comment - Stocks are offside this afternoon as traders lock in profits from recent gains. Online spread betting investors were not enticed to go long today with fears of a Cypriot bailout circulating; the island's financial woes have been...read article: Online Spread Betting Markets Struggle on Cyprus Bailout Speculation.
Stock Market Spread Betting: On-Going Eurozone Issues Halt Rally, updated 13-Mar-13
Spread Betting Comment - Has the over-exuberance of the stock markets over the last couple of days finally had a reality check, or are we merely pausing before our next leg higher? With on-going issues in Italy and Cyprus causing the Eurozone once again to...read article: Stock Market Spread Betting: On-Going Eurozone Issues Halt Rally.
Equity Spread Betting: FTSE Hits 5 Year High on Strong Non-Farms Data, updated 11-Mar-13
Spread Betting Comment - Equities are storming ahead after better-than-expected Non-Farm Payroll numbers helped drive the FTSE to a fresh five-year high. The US unemployment rate also dropped, to 7.7%, the lowest level since...read article: Equity Spread Betting: FTSE Hits 5 Year High on Strong Non-Farms Data.
FTSE 100 Spread Trading Market Rises Depite BoE Looking Unlikely to Add QE, updated 07-Mar-13
Spread Betting Comment - The FTSE 100 spread trading market is 20 points higher, showing a greater degree of enthusiasm for the current rally. With only a few months of his tenure left, it seems unlikely that Mervyn King will prompt any...read article: FTSE 100 Spread Trading Market Rises Depite BoE Looking Unlikely to Add QE.
FTSE 100 Shares Spread Betting: Serco Gains on Dividend Hike and Revenue, updated 05-Mar-13
Spread Betting Comment - In FTSE 100 shares spread betting, the king of the index was outsourcing firm Serco, adding over 9% as it hiked its dividend by 20% following a pick-up in revenue in the second half of 2012. Languishing at the bottom...read article: FTSE 100 Shares Spread Betting: Serco Gains on Dividend Hike and Revenue.
Rising Eurozone Unemployment Hurts European Index Spread Betting Markets, updated 01-Mar-13
Spread Betting Comment - European indices are offside after the Eurozone revealed yet another increase in the unemployment level, to 11.9%, the highest rate since the currency's creation. If this wasn't bad enough, we can now add an Italian hung parliament into...read article: Rising Eurozone Unemployment Hurts European Index Spread Betting Markets.
Equities Spread Trading: Petrofac Slumps on Concerns Over Full-Year Performance, updated 27-Feb-13
Spread Betting Comment - On the equity spread trading front, Petrofac has dropped the ball, with a less-than-impressive market outlook that has left many analysts scratching their heads and wondering about the company's targets for the...read article: Equities Spread Trading: Petrofac Slumps on Concerns Over Full-Year Performance.
UK Shares Spread Betting: RBS Rises on Speculation of American Stake Sale, updated 25-Feb-13
Spread Betting Comment - In UK shares spread trading, RBS topped the FTSE ahead of its full-year results on Thursday, adding 3.8% on speculation regarding the potential sale of up to 25% of its American arm; discussions are expected to take...read article: UK Shares Spread Betting: RBS Rises on Speculation of American Stake Sale.
GBP/USD Spread Betting Market Tumbles Despite Denial of Currency War, updated 21-Feb-13
Spread Betting Comment - Even though we have been told there is categorically no 'currency war' going on, currencies continue the race towards zero and GBP/USD is now at levels last seen in 2010. In the final days before...read article: GBP/USD Spread Betting Market Tumbles Despite Denial of Currency War.
FTSE 100 Spread Betting Market Surges on Excellent German ZEW Figures, updated 19-Feb-13
Spread Betting Comment - The FTSE 100 is enjoying a good day, up around 40 points, boosted by strong German sentiment data. Excellent figures from the German ZEW confidence index, which hit its highest level in almost three years, emboldened...read article: FTSE 100 Spread Betting Market Surges on Excellent German ZEW Figures.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Daily Closing Market Comments Index
Index of UK financial market trading articles - the regular closing market comments from IG Index...see Index.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
