A brief look at last week and the week ahead, the Weekly Review from IG Index.
Weekly Trading Report 9 August 2010 - Last Week's Trading Highlights
The FTSE 100 gained 112 points on Monday as France's BNP Paribas reported second-quarter net profit growth of 31% and HSBC more than doubled first-half pre-tax profit to £11.1 billion.
There was more positive news for the banking sector through the week, including 'bad bank' Northern Rock Asset Management on Tuesday, while on Wednesday Lloyds Banking Group reported first-half profit of £1.6 billion.
Barclays' half-year pre-tax profit jumped 44% to £3.95 billion compared with the first six months of 2009, and RBS closed a strong week for Europe's banks by announcing a half-year profit of £1.1 billion on Friday.
It was another busy reporting week across all sectors on both sides of the Atlantic. In the UK, silver-mining firm Fresnillo boasted a 93% jump in half-year profit year-on-year, while Anglo-American giant Rio Tinto unveiled a record $5.8 billion profit over the same period.
UK retailers came under pressure midweek, after fashion retailer Next announced a 1.5% drop in half-year like-for-like sales and predicted growing pressure on consumer spending over the next six months.
Meanwhile US food giant Kraft's first-quarter net revenue and net profit both returned better-than-expected on Thursday, assisted by the purchase of UK confectionery maker Cadbury.
While UK and Eurozone rates were predictably maintained at 0.5% and 1% respectively, business confidence was boosted by manufacturing data this week, with better-than expected July PMI figures, up 0.2% at home and in Europe.
Construction spending in the US increased by 0.1% in July, though in the UK construction PMI slowed from 58.4 to 54.1.
US retail sales figures edged higher on Thursday, but unemployment remains the major barrier to economic recovery in the US. Friday’s all-important Non Farm payrolls disappointed analysts, showing a second month of losses after 131,000 jobs were shed in July.
IG Index
- Live Prices, Charts, Indices, Equities, Commodities, Forex and more >> read the
IG Index Review.
Weekly Trading Report 9 August 2010 - The Week Ahead
Indicators
An eventful macroeconomic schedule begins on Tuesday with the FOMC interest rate decision, followed at home midweek by the BoE’s Quarterly Inflation Report.
Also look out for Wednesday’s unemployment data, which will attract the attention of those looking for signs of economic recovery.
Across the Atlantic the hectic agenda continues through the week, with inflation and retail sales data on Friday followed by the closely-watched University of Michigan consumer confidence survey.
Company Results and Reports
In a quieter week for UK company news, noteworthy results include half-year numbers from blue-chip insurance companies Prudential and Standard Life, alongside construction giant Balfour Beatty.
Over the pond keep a look out for retailers Macy's and JC Penney as the earnings season comes to a close.
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 9 August 2010', Review by D. Jones, last update: 9-Aug-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.
