Spreadex Market Update
Sleepy start to Friday morning as markets on track for a historic February
After unrest grew to violent flare-ups between protestors and police, Syriza’s revolutionary spirit has been thoroughly diminished on both the world and domestic stage; however, if the Germans vote in favour of the bailout extension this morning, at least the country will be one step closer to a short-term solution to the dire financial situation that Greece finds itself in. Whilst Germany is likely to vote ‘yes’ to the extension, this process has revealed just how strained relationships are between the two countries, something that doesn’t bode well for when this issue inevitably arises once more in 4 months’ time (or sooner).
With French consumer spending and Spanish flash CPI both arriving better than expected, the Eurozone continued the strong run of data that began yesterday morning, and the region’s indices responded in kind, tentatively edging up as the DAX reaches new highs once more. And if the bailout extension is approved, it is likely that the Eurozone indices will have an emphatic end to an already impressive month.
In the UK, the FTSE tentatively began to build on the gains it had made yesterday as it follows its weeklong trend. Lloyds Banking Group saw a £1.8 billion in pre-tax profits, with the resumption of dividend payments to shareholders, a stark contrast from the messy day the Royal Bank of Scotland had on Thursday. This was joined by £828 million in pre-tax profits for British Airways owner IAG, seeing the stock immediately post big gains after the bell. With Brent Crude still clinging onto its $61 per barrel level and allowing for minor gains by Premier and Tullow Oil, copper slipped away from its $2.69 mark it reached last night dragging with it Vedanta and KAZ Minerals.
Yet again the mixed nature of its stocks combined with the inconsistent nature of its commodity sector and a lack of UK-based news is limiting the boisterousness of the FTSE, especially when compared to the DAX or the Dow. However, this may not matter latter today; if the Greek bailout is approved the FTSE is likely to bask in the glow of this Eurozone success.
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.
