Spreadex Market Update
Asian shares follow suit
British chancellor George Osborne delivered a blow to British banks in his speech on reckless lending yesterday, bowing to political pressure to curtail the banks actions. Osborne claimed that banks that fail to shield their day-to-day banking from risky investment activities could be broken up. European governments are trying to restructure the financial system to prevent a repeat of the 2008 financial crash.
British retail sales rose strongly in January boosted by demand for tablet computers and smartphones. The British Retail Consortium said the total value of goods sold was up 3 percent compared to January 2011 - the largest increase since September. It rose 1.5 percent in December. The findings raise hope that the economy will grow in the first quarter of 2013 thus dodging a triple dip recession.
Switzerland’s biggest bank UBS has posted a fourth quarter loss after accounting for the fine received for trying to rig global interest rates. The net loss amounted to $2.08 billion resulting in a plan to cut 10,000 jobs over the next 3 years. The bank has now exited most debt-trading businesses to focus on money management and boost return on equity.
It's easy to open an account
- Fill in our simple online application form
- Fund your account
- Start trading the global markets instantly!
SEARCH FOR AN ARTICLE:
Enter a keyword and search for all relevant articlesMARKET ANALYSIS
RECENT POSTS
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.
