Spreadex Market Update

Barclays remains the focus



Talk of Barclays and the Libor scandal remains the focus of the London market this morning, with the resignation of Barclays chairman, Marcus Agius, compounding fears that the city is facing a significant shakeup in light of last week’s events.

Banks have been central to public criticism ever since the financial crisis broke in ’08, but the extent to which politicians last week have been seen to demand heads roll makes this more than just widespread dislike of banking by the electorate; it presents yet more opportunity for significant reform, something shareholders fear in the event it affects earnings.

Equities are well bid this morning, with investors believing the story behind last Friday’s rally. This is significant because investors have usually taken profits shortly after positive eurozone announcements. And while the day is young still, markets have clearly kicked off the week in inflationary mode.

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.

No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.

The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.