Weekly Trading Report 14 March 2011 - Last Week's Trading Highlights
Global indices fell sharply last week as economic woes dominated the headlines. On Monday frantic oil trading triggered by Libyan turmoil caused light crude to peak at a two-and-a-half year high of $106. Eurozone debt fears were also fanned back into flame, as Moody's downgraded Greece's debt rating on Monday.
Spread betting investors were left eyeing Portugal and Italy, after Spain was then also surprisingly downgraded on Thursday. China's unexpected $7.3 billion trade deficit and Friday's news that a devastating earthquake hit Japan's north-east ensured that shares remained firmly in the red.
The mix of events ensured the FTSE's poor run continued, with the insurance sector particularly affected. Blue-chips Aviva, Legal & General and Prudential led the downwards charge on Friday, amid worries over exposure to Japan's earthquake. Closer to home, the ONS revealed more optimistic midweek figures as the UK trade deficit narrowed sharply in January.
Manufacturing and industrial production also enjoyed a booming start to 2011. It was no major surprise that the MPC once again voted to maintain the UK's record low 0.5% interest rate on Thursday, but news that Andrew Sentence, until recently the MPC's sole hawk, will be replaced by Ben Broadbent in June has added an element of unpredictability to the mix.
Although global events saw London's leading index plummet on Thursday to its lowest close in the last three months at 5845.29, there was some positive date for UK companies. Retail bellwether John Lewis revealed that profit soared by 20% last year, while Morrisons' forecast-beating report on Thursday was followed by news that ITV is to rejoin the FTSE 100 after reporting an upturn in advertising revenue.
Meanwhile Punch Taverns and JD Wetherspoon were among the week's better performing shares, reporting rising like-for-like sales on Thursday and Friday respectively.
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Weekly Trading Report 14 March 2011 - The Week Ahead
Indicators
After a slow start, this week will pick up on Tuesday with the US rate decision, Empire State manufacturing survey and Eurozone unemployment numbers all due. While the US bank rate is expected to remain at 0.25%, the Eurozone data will provide an important indication of euro health following Spain's surprise credit rating downgrade last week.
Wednesday is also busy with UK labour market data, US housing starts and February Eurozone inflation figures scheduled for release.
Company Results and Reports
It's a relatively quiet week on the company calendar, with only a handful of major firms reporting. Thursday boasts most of the action with US giants Fedex and Nike releasing quarterlies.
In the UK, Legal & General and Investec unveil full-year and Q4 numbers respectively. UK security firm G4S also announces its annual results on Tuesday.
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Remember that financial spread betting is a leveraged product and can result in losses that exceed your initial deposit. Spread betting may not be suitable for everyone, so please ensure that you fully understand the risks involved.
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For previous weeks see below.
Note - Spread Betting carries a high level of risk to your capital and you can lose more than your initial investment, it may not be suitable for all investors. Ensure you only speculate with money that you can afford to lose and that you fully understand the risks involved and seek independent financial advice where necessary.
'Financial Spread Betting 14 March 2011', Review by D. Jones, last update: 14-Mar-11
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