Please find below the Financial Fixed Odds report from David Evans, market analyst at BetOnMarkets.

It’s been a steady day for global equity markets after yesterday’s sell off. A pull back after weeks of consecutive gains, was increasingly likely, but now the rally has cooled, the prospects of a longer term recovery in equities could surprisingly improve.

Markets have so far weathered the dreadful US unemployment claims data. Continued jobless claims in the US now stands at a staggering 6.56 million which is easily an all time record. However, the four week average of unemployment claims has fallen from its peak, causing some to speculate that the US is nearing the end of the recession. In previous recessions, the turning point has been marked by the four week average of the unemployment claims peaking. While it is too soon to say that this is the case here, there is at least light at the end of the tunnel.

Financials are enjoying a good day as Barclays announced that its bond swap could realise a gain of £800 million. HSBC, RBS and Lloyds are up in sympathy as is Prudential after its results came out slightly ahead of expectations.

BT Fixed Odds Trade

Today BT announced huge job losses and results that were even worse than expectations. With large legacy pension deficits, BT could see further problems in the future.

A One Touch trade predicting that BT will touch 70p at any time in the next 35 days could return 128%.

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