Spreadex Market Update
Slight recovery from Brent Crude sees Santa rally begin to take hold
A worse than expected, but still much improved, CBI realised sales figure (at 19 compared to the 22 forecast and the 9 month low of 7 back in November) helped the FTSE continue its commodity sector rebound-inspired gains this Monday, the index jumping 50 points to edge towards last week’s highs.
The Eurozone indices recovered from their early morning wobble (well, all bar the Ibex, which continued to fall by an admittedly reduced 1.8%) the DAX and CAC surging by 100 and 30 points respectively to near a 2 week peak. Unlike the data-less UK and US markets, the Eurozone still has one important(ish) figure to come this Monday; this afternoon’s consumer confidence is expected to come in unchanged at -6, lingering at lows last hit in June.
Currently looking at a 120 point increase at the open, the Dow Jones is set to ensure Monday’s gains continue when the American session gets underway. With little on the agenda this afternoon the state of Brent Crude and the rest of the commodity sector is likely the only thing that can really threaten today’s growth, barring any big surprises.
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