Stronger US Jobs Data Buoys FTSE Spread Betting Market
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UK Market Comment, 1 March 2012
Closing comments from David Jones, Chief Market Strategist, IG Index:
The FTSE has pushed steadily higher for most of the day, although a modest pullback from highs looks likely to result in a close around 50 points higher.
Markets appear to be picking and choosing the data that suits them today, ignoring the bits that paint a less rosy picture and concentrating on the upbeat elements.
More decent US jobless figures and improved personal consumption data make up the latter part, while weaker US manufacturing news and increased Eurozone unemployment are in the former camp.
The news that the Greek deal of last week does not constitute a 'credit event' has gone little noticed, perhaps because markets know this decision can be revised if and when the experts deem it necessary.
Overall, sentiment still appears determined to remain positive, with stock markets taking back most of yesterday's lost ground and bond yields for Spain and Italy dropping below 5% for the first time for a number of months.
In summary, we are still searching for the positive catalyst needed to give markets the excuse to push higher.
The FTSE still seems to be lacking the élan that will reach 6000, and the Dow's week-long dance around 13,000 shows no sign of abating.
The more this dithering continues, the greater the chances that this enthusiasm will wane and result in a lurch lower.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE 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,
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UK Market Comment, 29 February 2012
Closing comments from Will Hedden, Sales Trader, IG Index:
A distinct lack of reaction from today's ECB action masks a hive of activity in UK shares today.
800 banks tapped the ECB for €530 billion of bargain basement three-year loans, a touch higher than most experts' expectations.
The immediate effects of this seem unclear, as individual bank borrowing figures have not been submitted.
One could reasonably expect some banks are using this facility so as not to be left behind, as the number applying for funds has increased dramatically second time around.
Unfortunately for those looking for this injection to give us an immediate charge at 6000, there has been no such luck.
Back on home soil, and Thomas Cook (+20%) has taken off for the second successive day in a row.
Shares in the battling holiday operator have nearly tripled in the last week, with speculation rife that their troubles could be behind them with a bid coming in.
This sort of M&A speculation has been a regular feature of 2012 trading thus far, with market participants keen to pounce on the chance of getting the right side of a big deal.
It isn't for the faint hearted, but the positives to take from this are that the appetite is there, seemingly from traders and suitors alike.
How and where to spread bet on:
UK Shares, where to find free charts, live pricing, how to trade etc >> UK Shares Spread Betting
Thomas Cook, where to find free charts, live pricing, how to trade etc >> Thomas Cook 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.
'Stronger US Jobs Data Buoys FTSE Spread Betting Market' edited by AG, updated 01-Mar-12
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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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