Against all expectations, stock markets around the world managed to extend their winning streak and close up for the 5th week in a row. It was a choppy week until Friday when US markets pushed hard to close at their highs of the week.

Financials were on fire, lifting global markets with them. Positive headlines hit investors in waves, just when it looked like the recent rally off the February lows was running out of steam. In the UK, Barclays finally closed out the sale of its iShares, with the £3bn fee coming in around average estimates. Some had thought it could go for much more, but there seems to be a general relief that the deal has gone through full stop. Wells Fargo added fuel to the fire by coming in with results that topped analysts’ estimates. Wells closed up nearly a quarter on the day, with most of the UK and US financials up by around 10% on Friday.

Continue Reading »

admin :: Apr.14.2009 :: Spread Betting :: No Comments »

US markets closed Friday up around 1%, which in the context of recent volatility is not really much to write home about. Recently, US markets have had an average trading range of 2% per day, which is actually down on the recent peak of 4% per day. In volatility terms, things seem to be quietening down, and this is usually a positive for equities which loath the unknown more than bad news. When the economic data becomes more predictable, markets can move to price in bad news, as appears to have happened today.

Continue Reading »

admin :: Apr.06.2009 :: Spread Betting :: No Comments »