A brief look at last week and the week ahead, the Weekly Review from IG Index.
Weekly Trading Report 8 March 2010 - Last Week's Trading Highlights
The FTSE marched steadily upwards through the week, passing the 5500 level on Wednesday for the first time since 20 January 2010.
News on Tuesday that UK consumer confidence reached a two-year high provided a welcome lift, though Thursday’s Halifax survey showing a 1.5% month-on-month fall in house prices tempered optimism.
HSBC provided the latest UK banking results on Monday, reporting a disappointing 24% slide in year-on-year pre-tax profit of £4.63 billion.
In contrast, Standard Chartered reported its seventh successive year of profit on Wednesday, up 13% compared to last year at a record £3.4 billion.
In the insurance sector, Prudential’s shares dropped a sharp 12% to 515p after the market reacted negatively to its plans to take over the Asian arm of AIG.
Meanwhile copper spreads jumped to the highest levels in five weeks after the earthquake in Chile. As the world’s premier copper miner, officials in Chile have promised to honour their export commitments, but even so prices hit $7600 a tonne last week; the highest since January.
As Greece’s crisis lingers on, the Euro hit its lowest levels against the Dollar for ten months on Tuesday, before clawing back some ground through the week. The Pound didn’t fare well either, dropping 0.3% to $1.4958 amid concerns over a possible hung parliament.
In the US, the eagerly awaited Non-farm payrolls showed 36,000 jobs were lost last month – though this beat estimates of a 50,000-65,000 net loss, the figure was worse than January’s 20,000 deficit.
On Thursday, the latest Fed Beige Book reported that the US economy continued to grow at a modest pace. The report did however reveal ongoing concerns for the housing market, with most districts listing commercial real estate and construction activity as weak or still in decline.
Monday’s data showing that January’s consumer spending increased for a fourth month and by 0.5% over the previous month, reinforced suggestions of a cautious economic recovery.
IG Index
- Live Prices, Charts, Indices, Equities, Commodities, Forex and more >> read the
IG Index Review.
Weekly Trading Report 8 March 2010 - The Week Ahead
Indicators
January retail sales kick off the UK schedule on Tuesday, with the NIESR GDP estimate and January industrial production data also in focus on Wednesday.
Analysts will be scrutinising these releases in the wake of the last week’s MPC decision on interest rates and the QE programme for any signs that Britain may be heading for a dreaded double-dip recession.
In the US, Wednesday’s Treasury budget statement will have an impact on both sides of the Atlantic.
Company Results and Reports
Results from Petrofac and International Power on Monday and Tuesday respectively will give a decent indication as to how the energy sector is currently faring.
Similarly, announcements from Antofagasta on Tuesday and Standard Life on Wednesday will be studied closely to see if there are any implications for the mining and financial sectors as a whole.
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 8 March 2010', Review by D. Jones, last update: 8-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.
