UK Mining Stocks See Gains on Rising Gold Spread Trading Market
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UK Market Comment, 21 March 2012
Closing comments from Will Hedden, Sales Trader, IG Index:
The FTSE continues to struggle around 5900, up only 3 points after a day of very lacklustre trading.
With no major surprises emerging from either the Budget or the Bank of England minutes, there remains little that seems able to push markets higher.
At the Bank, there remain members committed to additional QE, but in reasonably small increments, which doesn't suggest that further easing is on its way any time soon, although the news was enough to keep sterling in negative territory.
Some strength in gold and silver is helping to lift miners of these metals, with Randgold and Fresnillo both up around 3.6%.
US housing data provided little in the way of excitement, and the Dow and S&P 500 have floundered so far today, although the Nasdaq's 2012 uptrend has continued yet again.
In short, we remain stuck in the same limbo that has pervaded markets for the past few weeks, and with no real economic or macro news around, there seems little to shake stocks from their torpor.
Now that the Budget is out of the way for another year, investors seemingly have little to look forward to.
How and where to spread bet on:
Gold, where to find free charts, live pricing, how to trade etc >> Gold Spread Betting
Nasdaq, where to find free charts, live pricing, how to trade etc >> Nasdaq 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, 20 March 2012
Closing comments from Rupert Osborne, Futures Trader, IG Index:
Heading into the close, the FTSE 100 has been under pressure for most of the day.
The FTSE 100 slipped back below the 5900 mark today, back to its lowest levels in a week as growth concerns over China hit the big mining companies.
There were significant losses of between 4-6% on the day, and as these do have a large weighting for the FTSE index, brief rallies proved to be short-lived.
So far, US markets have not helped sentiment, with a weaker start on Wall Street deterring any potential bargain hunters.
Of course many of these indices have set fresh recovery highs in recent days, so today’s weakness, although larger than we have been used to recently, is still nothing to write home about.
Two weeks ago there were buyers virtually queuing up when the FTSE slipped below the 5800 level, so it would not be surprising to see confidence return tomorrow and markets regain their upward tilt.
How and where to spread bet on:
FTSE 100, where to find free charts, live pricing, how to trade etc >> FTSE 100 Spread Betting
Wall Street, where to find free charts, live pricing, how to trade etc >> Wall Street 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.
'UK Mining Stocks See Gains on Rising Gold Spread Trading Market' edited by AG, updated 21-Mar-12
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Daily Closing Market Comments Index
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