UK Spread Betting: Strong Prudential Earnings Boost Insurance Sector
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UK Market Comment, 13 March 2012
Closing comments from Yusuf Heusen, Sales Trader, IG Index:
Heading into the close, the FTSE 100 has enjoyed a strong day, ending up around 55 points higher as the bulls return with a vengeance.
Expectations that today would be quiet have been dashed as US markets hit new post-crisis highs despite the presence of a Fed meeting on today's agenda.
US retail sales rose at their fastest rate for five months, as US consumers took heart from the improved employment landscape and returned to their shopping malls with new determination to spend.
In London, strong earnings from the insurance sector helped lift Prudential and Standard Life.
In addition, miners are up on the back of good results from Antofagasta, although the Chilean copper miner itself is down after its dividend hike failed to excite investors.
All eyes now turn to Washington, where the Fed will publish its latest policy decision at 6.15pm (London time).
Almost alone among the world's major central banks, the Fed is holding fire on active monetary support, with a recent run of good data backing up its view that the US economy is on the mend.
Further cautiousness about QE will embolden dollar bulls and might yet stymie the ongoing run higher for stock markets.
How and where to spread bet on:
Prudential, where to find free charts, live pricing, how to trade etc >> Prudential Spread Betting
Antofagasta, where to find free charts, live pricing, how to trade etc >> Antofagasta 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, 12 March 2012
Closing comments from David Jones, Chief Market Strategist, IG Index:
A day of choppy, but rangebound, trading sees the FTSE end the day almost unchanged from where it started this morning.
There was little news available to enliven investors this morning when markets opened for the new week, and there has been no news all day.
As a result, traders have been left twiddling their thumbs, waiting around for the Eurogroup meeting to conclude this evening in Brussels.
Investors are trying to weigh up whether Friday’s reasonable Non Farm Payrolls number will prompt the Fed to become more hawkish at its meeting tomorrow, and lower the possibility of more monetary easing.
With no corporate or economic data of note out today, markets have been left high and dry, searching vainly around for something to provide excitement.
Even safe havens such as the US dollar aren’t seeing much movement, making it a quiet day all round.
Tomorrow’s economic data includes German confidence figures and US retail sales, but the presence of a Fed meeting on the day’s timetable suggests that Tuesday might be just as dull as Monday.
No fireworks are expected from today’s Eurogroup meeting, doubtless because everyone in Europe wants to pretend the crisis is now solved. Of course, we all know better.
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting
Indices, where to find free charts, live pricing, how to trade etc >> Indices 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.
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'UK Spread Betting: Strong Prudential Earnings Boost Insurance Sector' edited by AG, updated 13-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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