Spreadex Market Update
Small gains for the FTSE
The UK’s blue-chip index is currently only +17 @ 5642. Another reason investors aren’t pounding out of the gates is the ‘wait and see’ mentality ahead of European Consumer Confidence & Retail Sales figures at 10am, German factory orders at 11am and US Non-farm payrolls at 1:30pm
The one market we have seen investors piling into is Vodafone, after Goldman Sachs bestowed the coveted ‘Conviction Buy’ rating on the telecoms giant, +1.64% @ 180.2, spurning another run at 6-month highs of 183.44.
Other gainers include Carnival and ITV, though none are above 2%. ICAP leads the fallers -1.61% @ 323.80 as many investors fear further job cuts and restructuring, like we’ve seen at brokerage peer Tullet Prebon, are necessary.
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