Spreadex Market Update

UK markets open in the green as strong employment figures are released



The FTSE 100, unlike its European counterparts, has managed decent gains today, as it is currently up 0.20%, unlike the DAX (-0.64%) and CAC (-0.23%).

A large part of the increase today was due to positive employment data as the number of employees rose by 257,000 this month, 424,000 more than pre-pandemic levels.

The employment rate was also up 1.1% compared to pre-pandemic, to 75.5%.

Furthermore, the government announced it will be opening hundreds more vaccination centres across the UK, as it strongly urges people to get their boosters.

Although, Scotland have introduced restrictions today which has slowed down UK markets, and could fill investors with more pessimism into the close.

Ocado were the big winners today as their shares were boosted by over 10% at lunch.

Not only did they win a patent battle, allowing their warehouse robots to enter the US market, but also announced very upbeat forecasts for the Christmas period.

BT were at the other end of the spectrum today as at one point their shares dropped over 7%, as the billionaire, Patrick Drahi, raised his stake from 12.1% to 18%, and stated he did not have any intentions to make an offer for the company.

All three US major indices were down on open as wholesale prices increased by a record 9.6% in November from a year prior, which is the highest ever recorded.

The DOW and S&P both currently down 0.30% and 1.07%, respectively.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Weekly Trading Update

Trading Week Ahead

Read More

Financial Trading Blog

UK Stocks Set Stage for Comeback

Read More

Daily Market Update

20.12.24 Friday Morning

Bitcoin soared 130% in 2024, hitting all-time highs due to favourable policies under the incoming Trump administration....

Read More

Economic Diary

20.12.24

Read More

Daily Market Update

19.12.24 Thursday Afternoon

UK equities present a mixed picture heading into the festive period, but certain sectors might outperform next...

Read More

Daily Market Update

19.12.24 Thursday Morning

The yen hit a one-month low against the dollar after the Bank of Japan held rates steady and provided no new guidance...

Read More

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.