US Indices Spread Betting Markets Rise on Strong Alcoa Outlook
UK Market Comment, 10 January 2012
Closing comments from Chris Beauchamp, Market Analyst, IG Index:
The FTSE 100 remains close to its highs for the day, up around 95 points as the session winds down.
US markets have joined in the global rally this afternoon, helped on their way by last night’s Alcoa update.
While the company may have reported a loss overall for the quarter, the upbeat outlook was a definite boon.
Financial spread betting markets will be hoping that Alcoa’s listed brethren will repeat its good offices and make similarly positive pronouncements about the coming year.
Optimism from our cousins across the pond added to the FTSE 100’s China-based rally, as miners took some of the top spots on the leaderboard.
This came on hopes that those friendly chaps in the Communist Party will do their bit for the capitalist west and loosen policy to stimulate demand among their millions of eager consumers.
For once, a ratings agency made a positive contribution to the day, with Fitch saying that it was unlikely to downgrade Paris any time soon.
While cynics might point out that Fitch is French-owned, and so probably doesn’t dare take a scalpel to France’s AAA, it did help to energise the banking sector, which had been relatively quiet during the morning in London.
Barclays was the clear winner of the big five, up 5.5%, closely followed by the state-owned leviathan, RBS, which was up 5%.
How and where to spread bet on:
Alcoa, where to find free charts, live pricing, how to trade etc >> Alcoa Spread Betting Barclays, where to find free charts, live pricing, how to trade etc >> Barclays 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.
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UK Market Comment, 9 January 2012
Closing comments from Ben Critchley, Sales Trader, IG Index:
Heading into the close, the FTSE 100 looks set to end around 35 points weaker, having edged lower all day.
For most of the day, the FTSE has hovered in a relatively narrow range, but as the session wore on its resolve slipped and the leading index gave up more ground.
Having said that, it remains a whisker above the 5610 point that marked its lowest point last week.
As was almost universally expected, the latest Sarkozy-Merkel meeting provided nothing of real import.
Some investors are doubtless keeping their powder dry before aluminium giant Alcoa inaugurates the latest US quarterly earnings season with its figures, released after the close of play in the US tonight.
Ultimately, caution remains the watchword, indicated by two important bits of Eurozone data today.
First, the ECB reported that the amount of cash lodged by banks overnight at the institution has hit yet another record, while a German bund auction saw yields go into negative territory.
This shows that banks would rather pay the ECB to hold their cash rather than lend it to each other, while fund managers and other institutions are so desperate for a safe haven that they’d rather pay Berlin to borrow money than purchase other assets.
None of this means that the Armageddon is on its way, but it’s not exactly an encouraging sign, is it?
How and where to spread bet on:
FTSE, where to find free charts, live pricing, how to trade etc >> FTSE Spread Betting UK Shares, where to find free charts, live pricing, how to trade etc >> UK Shares 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..." >> 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.
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'US Indices Spread Betting Markets Rise on Strong Alcoa Outlook' edited by AG, updated 10-Jan-12
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