A brief look at last week and the week ahead, the Weekly Review from IG Index.
Weekly Trading Report 1 March 2010 - Last Week's Trading Highlights
The FTSE stuttered before rallying to close almost where it started on Monday, at 5354.52.
In the latest round of UK banking results, RBS announced a better-than-expected loss of £3.6 billion for 2009 on Thursday.
This came the day before Lloyds Banking Group reported a disappointing £6.3 billion operating loss, set against a £6.7 billion deficit in 2008.
Meanwhile the UK's largest builders' merchant Travis Perkins announced a profit fall of 11% in 2009, while discount retailer Primark again defied the economic downturn, reporting an 8% rise in like-for-like sales for the past six months.
On Friday, UK Q4 GDP growth was revised upwards, from 0.1% to 0.3%, strengthening the claim that the UK emerged from recession.
The Greek tragedy played on during the week, as analysts scrutinised both cause and effect.
Guilt-edged knives have been drawn on whether Goldman Sachs' debt swap deal with Greece in 2001 was a major contributing factor to the current situation. In addition, the fear of an unfavourable adjustment in Greece's credit rating consigned the Euro to a nine-month low against the Dollar on Thursday.
Elsewhere, in Germany this week business confidence fell for the first time in 10 months, while the country's unemployment rate rose marginally from 8.6% to 8.7%.
Addressing Congress on Wednesday, Fed chairman Ben Bernanke said that interest rates will remain low 'for an extended period'. Bernanke was speaking a day after his predecessor Alan Greenspan had labelled the US economic recovery 'extremely unbalanced'.
Also unveiled on Tuesday, February's US consumer confidence slumped to a ten-month low, well below expectations, while US business investment continued to fall in January.
On Thursday, gold broke its three-day decline to rise a full percent in reaction to reported Chinese demand.
Oil traded above $80 on Monday, but the breach was not sustained as the Dollar strengthened later in the week.
IG Index
- Live Prices, Charts, Indices, Equities, Commodities, Forex and more >> read the
IG Index Review.
Weekly Trading Report 1 March 2010 - The Week Ahead
Indicators
In the UK this week all eyes are on the BoE's interest-rate announcement on Thursday, particularly after recent inflation rises and the upward adjustment in Q4 UK GDP growth to 0.3%. The ECB rate decision follows at 12.45pm.
In the US, the Fed's Beige Book provides a focal point to a week that closes with the influential non-farm payroll figures on Friday.
Company Results and Reports
Companies reporting annual results at home this week include HSBC on Monday, while Balfour Beatty and investment management firm Schroders report on Thursday.
In the US, office supplier Staples and retail warehouse giant Costco announce quarterlies on Tuesday and Wednesday respectively.
The above content does not constitute investment advice. Neither Online-Spread-Betting.com nor IG Index accepts any responsibility for any use that may be made of the above.
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.
IG Index
- Live Prices, Charts, Indices, Equities, Commodities, Forex and more >> read the
IG Index Review.
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 1 March 2010', Review by D. Jones, last update: 1-Mar-10
Related articles:
Online Spread Betting, 6-Jun-11,
Online Spread Betting News: Highlights of last week's spread betting markets and a look at the factors that will influence the week ahead plus company releases, economic news and...see: Online Spread Betting
Financial Spread Betting 4 April 2011, 4-Apr-11,
Financial Spread Betting 4 April 2011: Construction firms were on the rise, with building supplies firm Wolseley returning to profit in the first half of the year and house builder Bellway reporting profit up...see: Financial Spread Betting 4 April 2011
Financial Spread Betting 21 March 2011, 21-Mar-11,
Financial Spread Betting 21 March 2011: On Thursday the Japanese yen reached ¥76.25 against the US dollar, its highest level since the end of World War II. The BoJ continued to pour in further funds to stabilise...see: Financial Spread Betting 21 March 2011
Looking to improve your trading results? Get free trading tips and trading analysis as well as the latest trading offers »
Trading News.
Risk Warning:
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.
Disclaimer:
Online-Spread-Betting.com does not endorse the information and
analysis available on this site. It is provided purely for information
purposes and is delivered as a personal view of the writer. Under no circumstances
is the information hereon to be used or considered as, an offer to sell, or a
solicitation of any offer to buy. The website content does not constitute investment
advice and neither the individual contributor nor Online-Spread-Betting.com accepts any
responsibility for any use that may be made of the content.
* Tax Free Trading:
Tax law is subject to change. It may also differ if you pay tax in a jurisdiction outside the UK.
