Weekly Trading Report 1 November 2010 - Last Week's Trading Highlights
The UK economy received an early shot in the arm last week, following the first GDP estimate for the third quarter. Tuesday's official data showed the economy grew by 0.8% between July and September, double the widely expected figure.
News from the UK housing market was less upbeat though, with September mortgage approvals remaining static, while Nationwide and Hometrack revealed October house prices fell 0.7% and 0.9% respectively.
It was a similar pattern in the US, where Friday's data showed third-quarter GDP grew by 2% year-on-year, a faster pace of growth than the second quarter. But a 0.3% fall in US house prices over the June to August period and new home sales which remain 21.5% lower year-on-year painted a less optimistic picture of the housing market.
News from the Eurozone was mixed: positive data over unemployment in Germany and Spain was tempered by fresh worries in Portugal and Greece. On Wednesday it was confirmed that the jobless rate in Germany dropped below three million for the first time since 1992, while the quarterly unemployment rate in Spain fell for the first time since 2007, though still remains close to the 20% mark.
In Portugal, the minority government was unable to reach agreement on its austerity budget, while Greek concerns were heightened after the economy was forecast to contract by a worse-than-anticipated 2.5-3% next year.
Elsewhere in the financial spread betting markets, Spanish banking group Santander revealed plans to float up to 20% of its UK business in what would be the largest UK IPO since before the financial meltdown. Meanwhile oil giants Royal Dutch Shell and Exxon Mobil reported strong Q3 figures on Thursday, with impressive year-on-year underlying profits of 88% and 55% respectively.
The reporting week closed with half-year figures from British Airways, which doubled expectations to reach £158 million, the airline's first profit in two years. Its shares took a hit, however, as proposed increases to air tax raised fears that passenger numbers could nose-dive.
IG Index
- Live Prices, Charts, Indices, Equities, Commodities, Forex and more >> read the
IG Index Review.
Weekly Trading Report 1 November 2010 - The Week Ahead
Indicators
All eyes will be on Wednesday's FOMC announcement in the US, where the size and shape of the Fed's quantitative easing programme is likely to be revealed, along with any rate changes.
The BoE is also due to release a rates statement on Thursday, though a 20th month at 0.5% is widely anticipated. Friday also sees the release of the all-important US non-farm payroll figures.
Company Results and Reports
In the shares spread betting markets, BP publishes third-quarter figures in the UK on Tuesday, and onlookers will be interested to compare these against Shell's analyst-beating results last week. Bankers Lloyds and RBS will also provide quarterly figures on Tuesday and Friday respectively, while interim results from Carphone Warehouse and Cable & Wireless close the week.
The US earnings season shows no signs of slowing, with Kelloggs, MasterCard and Pfizer releasing third-quarter results on Tuesday, followed by Prudential and Time Warner on Wednesday, and Kraft on Thursday.
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 November 2010', Review by D. Jones, last update: 1-Nov-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.
