UK Financial Spread Betting Markets Rise as Eurozone Leaders Agree Banking Deal
|
|
|
|
|
|
The regular trading review of the main UK, US and European markets, plus a quick look at the commodities and forex markets.
For today's report see Financial Trading Review.
|
Sponsered by
ETX Capital
|
Financial Trading Review - 02 July 2012
|
UK Trading Review
UK markets closed higher on Friday, as European leaders agreed to shore up the region’s banking system to reduce borrowing costs for Italy and Spain and contain the region’s debt crisis.
Banking sector stocks, Lloyds Banking Group, HSBC Holdings and Royal Bank of Scotland Group gained between 0.5% and 4.3%, as financial spread betting investors remained optimistic on an agreement by Eurozone leaders for banks in the region.
Barclays dropped 1.7%, amid continued worries about the extent of the problems it faces, despite having settled allegations of manipulating interbank lending rates.
BP, Royal Dutch Shell and BG Group gained between 1.0% and 3.1%, tracking a rise in crude oil prices.
Berkeley Group Holdings climbed 3.2%, after it reported a sharp surge in full-year profits.
Cairn Energy added 3.5%, after it raised $365 million selling a stake in Cairn India Limited. Miners, Vedanta Resources, Rio Tinto Group and Antofagasta rose between 3.6% and 4.7%, as base metal prices traded higher.
FTSE 100 rose 1.4% to settle at 5,571.2, while FTSE 250 gained 2.3% to close at 10,932.1.
European Trading Review
European markets rallied on Friday, after EU leaders announced a range of positive measures to recapitalize banks using the region's permanent bailout fund, without adding to government debt, easing concerns about Italy and Spain.
In shares spread betting, Deutsche Boerse climbed 4.8%, after JPMorgan upgraded the stock to “Overweight” from “Neutral”.
BNP Paribas, National Bank of Greece and Banco Santander, rallied between 6.9% and 12.9%, as investors cheered the Eurozone emergency action.
BMW surged 5.1%, after UBS upgraded the stock to “Buy” from “Neutral”, while Daimler soared 4.5%, after the company reached a MoU with Tokyo-based Nissan on the mutual supply of light-duty trucks in Japan.
FTSEurofirst 300 index rose 2.6% to 1,021.4. German DAX Xetra 30 soared 4.3% to 6,416.3. French CAC-40 closed 4.8% higher at 3,196.7.
US Trading Review
US markets rallied on Friday, as an agreement by the Eurozone leaders on measures to contain the region’s debt crisis and shore up struggling banks boosted market sentiment.
Constellation Brands jumped 24.4%, after the company bought the remaining 50.0% of Crown Imports. KB Home climbed 12.6%, as the company sold more houses at higher prices during its fiscal second quarter.
Bank of America Corp, Citigroup and American Express rose between 2.7% and 5.7%, amid improved risk appetite among investors.
Apple advanced 2.6%, after Pacific Crest raised its price target on the stock.
Exxon Mobil Corp and Chevron Corp added 3.0% and 2.0%, respectively, following a rise in crude oil prices.
Research in Motion plunged 19.9%, after posting a first quarter loss and delaying the next BlackBerry operating system.
DJIA gained 2.2% to end at 12,880.1. NASDAQ climbed 3.0% to settle at 2,935.1. S&P 500 rose 2.5% to close at 1,362.2.
Forex Trading Review
At 0400 BST today, the GBP is trading 0.1% lower against the USD at $1.5659, 0.2% higher against the EUR at €1.2406, and 0.3% lower against the JPY at ¥124.89.
The EUR is trading 0.3% lower against the USD at $1.2622.
The EUR is trading 0.4% lower against the JPY at ¥100.67.
The EUR is trading lower against most of its major peers, amid mounting speculation that the European Central Bank would lower the interest rates, ahead of reports that might show jobless rate climbed to a record and manufacturing activity contracted in the region.
The USD fell against the JPY following a stronger-than-expected Tankan survey data in Japan. Investors speculate Institute for Supply Management report would show US manufacturing activity slowed down in June.
On Friday, the EUR closed higher against the USD, as post EU summit announcements eased investors’ concerns about the European banking sector and spurred optimism that EU lawmakers would resolve the region’s sovereign-debt crisis.
The JPY closed lower against the USD, after the industrial output in Japan fell 3.1% in May and domestic Purchasing Managers' Index (PMI) for the manufacturing sector in Japan contracted in June.
The CAD finished higher against the USD, as demand for high-yielding assets increased, amid optimism that Europe would be able to resolve its debt crisis.
Commodities Trading Review
In Asia, crude oil for August delivery is trading 1.1% or $0.97 lower at $83.99 per barrel.
On Friday, crude oil for August delivery soared 9.4% or $7.27 to end at $84.96 per barrel.
This was due to improved prospects for energy-demand growth after EU leaders, at a summit, announced plans to use bailout funds to reduce the debt burden on Italy and Spain, easing concern the Eurozone crisis would worsen.
Crude oil also gained value, after business activity in the US unexpectedly expanded in June and ahead of the start of a European Union oil embargo on imports from Iran due to begin July 1.
Gold for immediate delivery is trading 0.3% lower today, at $1,592.05 per ounce.
Gold for August delivery rallied 3.5% or $53.80 to settle at $1,604.20 per ounce on Friday, as the dollar weakened against the euro, after EU policymakers agreed on measures to help resolve the ongoing debt crisis in the euro region.
Financial Trading News
For more daily views, news and analysis of the markets also see:
|
The above comments do not constitute investment advice and neither ETX Capital nor Clean Financial accept any responsibility for any use that may be made of them. Any prices or data are indicative and subject to change without notice; its accuracy is not guaranteed and should not be relied on.
ETX Capital »
"With ETX Capital you get all the normal
advantages of Spread Betting plus..." » read
ETX Capital review.
|
Risk Warning: Financial spread bets and CFDs are leveraged products and it is possible for losses to exceed deposits. Financial spread betting and CFD trading are not suitable for everyone so please seek advice if you do not understand the risks.
Article provided / approved by ETX Capital which is the trading name of Monecor (London) Limited, company number 00851820. Monecor (London) Ltd is authorised and regulated by the Financial Services Authority, registration number 124721.
'UK Financial Spread Betting Markets Rise as Eurozone Leaders Agree Banking Deal' edited by ETX Capital, updated 02-Jul-12
Related Articles:
Financial Trading Review, updated 23-May-13
The daily trading review of the key European and US markets as well as a quick review of the forex and commodities markets. In the last trading session we saw...read article: Financial Trading Review.
Financial Markets Trading Review, updated 22-May-13
Financial Markets Trading Review - the regular trading review of the main US and European markets. There's also a quick look at the commodities and forex markets as well as...read article: Financial Markets Trading Review.
US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut, updated 18-Apr-13
Apple fell 5.5%, as its supplier, Cirrus Logic reported an inventory glut, which indicated that iPhone sales might fall short of market estimates. Cirrus Logic plunged 15.7%. Textron tumbled...read article: US Shares Spread Betting: Apple Falls as Cirrus Logic Reports Inventory Glut.
Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale, updated 17-Apr-13
Coca-Cola rose 5.7%, as it reported first-quarter earnings that topped market estimates. The company also announced plans to sell some bottling distribution rights in...read article: Equity Spread Bets: Coca-Cola Rises on Profits and Distribution Rights Sale.
Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves, updated 16-Apr-13
Gold prices fell, as last week's reports about Cyprus selling its excess gold reserves to raise €400 million needed to finance its EU bailout. Also contributing to weakness...read article: Gold Spread Betting Market Falls as Cyprus Sells Gold Reserves.
USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth, updated 15-Apr-13
The JPY is trading higher against its major peers, as an unexpected slowdown in China's economic growth weighed on risk sentiment and boosted demand for the yen as a...read article: USD/JPY Spread Trading Market Slides on Slowdown in Chinese Growth.
Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims, updated 12-Apr-13
US markets ended higher yesterday, with the Dow Jones and the S&P 500 climbing to fresh all-time highs, as a bigger than expected drop in US initial jobless claims boosted confidence that...read article: Dow Jones Spread Betting Market Climbs to Fresh Highs on US Initial Jobless Claims.
European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid, updated 11-Apr-13
Deutsche Telekom has improved its bid for the proposed merger between its unit T-Mobile USA and MetroPCS Communications by reducing the combined company's debt by $3.8 billion to...read article: European Shares Spread Trading: Deutsche Telekom Improves T-Mobile USA/MetroPCS Bid.
US Stock Market Futures: AMD Surges on Links to Next Xbox Console, updated 09-Apr-13
Advanced Micro Devices surged 13.1%, as Microsoft Corp would use the company's chips in its next Xbox game console. General Electric and Lufkin Industries advanced...read article: US Stock Market Futures: AMD Surges on Links to Next Xbox Console.
GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech, updated 08-Apr-13
The USD is trading higher against its major peers, ahead of Federal Reserve Chairman Ben Bernanke's speech in Atlanta, US. The GBP/USD is trading slightly lower at...read article: GBP/USD Spread Bets Trade Lower Ahead of Fed Chairman's Atlanta Speech.
First Page << 1 2 3 4 5 6 7 8 9 10 11 12 >> Last Page
Financial Trading Review Index - an index of financial trading reviews, with each review covering the forex and commodities markets as well as the main US and European markets.
|
|
Q) Average Trading Results?
A) Get free trading tips, offers, price updates, important news and more!
|
|
