Spreadex Market Update
Stocks climb for second day
The MSCI World Index rose 0.3% by 8:30am GMT while futures on the Standard & Poor’s 500 Index advanced 0.6% as U.S. equity markets reopen today after a two-day shutdown caused by Hurricane Sandy.
Looking towards Europe and all of the major Euro Stock Indices are performing strongly with the Dax up over 50 points by 9:30. Greece has announced that it aims for a primary surplus of 0.4% of gross domestic product in its 2013 budget.
Greece had initially targeted a surplus before debt servicing of 1.1% of GDP next year, the first positive balance since 2002, after a 1.5% deficit in 2012.
The government is due to present the 2013 budget bill later today. It is expected to include a large chunk of the austerity measures demanded by its foreign lenders.
A U.K government-commissioned review published today has attacked Britain’s current growth strategy and claim that deregulation will not provide a fast track to economic prosperity and that methods must be reassessed. There are calls urging the government to end the ministerial uncertainty on crucial issues such as energy and aviation.
In the 228-page report just under 90 recommendations are made including the need to strengthen controls on foreign takeovers to block deals deemed unfavourable to Britain.
Barclays, already rocked by an interest rate rigging scandal, unveiled two new U.S. regulatory investigations into the bank’s financial probity on Wednesday and said its profits were hit by claims for mis-selling PPI.
Following investigations in the UK over its dealings with Qatari investors, Barclays said the Department of Justice and Securities and Exchange Commission were investigating whether its relationships with third parties who help it win or retain business are compliant with the U.S. Foreign Corrupt Practices Act.
The Financial Services Authority (FSA) is investigating the bank and four current and senior employees, including finance director Chris Lucas, to determine whether it made adequate disclosure of the fees it paid in a 2008 capital raising.
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.
