Spreadex Market Update
Rising housing sector and stable Brent Crude can’t help FTSE match Eurozone growth
Despite a strong set of housing stocks (Persimmon and Berkeley Group leading the charge), lifted by both news of record high UK prices and the potential windfall from the cost of rebuilding and repairing the numerous homes damaged in the northern floods, and a stable oil price the UK index is struggling to match its Eurozone peers, hampered by a still grumpy mining sector. There are no real signs that the latter issue could turn around this afternoon, , with only Lonmin showing any real vigour this Wednesday. As ever those same commodity stocks that have plagued the FTSE throughout 2015 are trying to ensure it ends the year not with a bang but a whimper, the index currently up a mere 15 points.
At least this afternoon brings with it some data, the US goods trade balance (forecast to widen from a $58.4 billion to a $60.9 billion deficit) and CB consumer confidence (expected at 93.9 against 90.4 last month) figures still to come. In terms of the US open itself, the Dow Jones is looking at a near 85 point jump when the bell rings on Wall Street, though that could change dependant on the state of its figures as the day continues.
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