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Your Financial Spread Betting Update: European equities post gains amid cautious optimism

12-09-2010 11:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: City Index

Financial spread betting update from City Index

Financial spread betting update from City Index

Financial spread betting and CFD trading expert Giles Watts, Head of Equities at City Index (, looks at spread betting market activity as European equity markets pushed towards the week’s highs on 9th December:

“European equity markets pushed towards the week’s highs, encouraged by a late rally in the US and strength in Asian equities overnight. F100 reached 5837 in early trading as Miners, Banks and Insurers drove the index higher.

The DAX rose above the 7000 before pairing gains. Mining stocks were the play of the day as they eroded yesterday’s falls on higher commodity prices and a weaker dollar. Concern existed yesterday that a possible rate hike from China over the weekend could dampen global demand for metals, but investors seem more resilient this morning, citing any moderate rise in rates as a prudent step to cool any future overheating.

Positive sentiment remained over Obama’s extension of tax cuts, the move continued to buoy investor’s spirits as hope remains that such a move could prove a shot in the arm for the faltering US recovery.

In specific news Barclays bank was the best performing bank, trading back above 270p after recently being punished for its perceived exposure to the peripheral European nations. With the euro zone debt concerns moving away from the headlines at least for a day or two, investors were poised to pick up shares badly hurt recently that they perceive to now be cheap.

On the downside Smith and Nephew topped the lagers board retracing some of yesterdays bid spec gains. The stock had led the index yesterday after traders had cited bid rumours of around the £8.00 mark for the Health Equipment Company. Investors were excited as rumours circulated yesterday that American Venture Capitalists could be in the market for the company, but enthusiasm has waned and clients have taken profits quickly off the table today.

As mid morning approaches, investors will be keeping an eye on BOE decision, strongly expected to keep rates on hold. More unpredictable will be US jobless claims as 13.30 GMT. As ever investors will wish to see some solid numbers from the States, before they are convinced about buying further into any festive rally.”

Practice your spread betting with City Index by signing up for a demo spread betting account at

Alternatively, take a look at City Index’s one point spreads on major indices such as the FTSE and Wall Street at

About City Index:

Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.

As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. We provide access to a wide range of instruments including margined foreign exchange, binary betting (, CFDs and, in the UK, financial spread bets.

We constantly look to widen the range of assets we offer, improve the performance of our platforms and expand the range of services we provide. The result is that our customers benefit from innovative mobile trading tools ( with transparent pricing, competitive spreads, and a high standard of customer service and support.

Spread bets and CFDs are leveraged products which can result in losses greater than your initial investment. These products may not be suitable for all investors and you should ensure you fully understand the risks involved.

For more information, visit

Giles Watts, City Index, Park House, 16 Finsbury Circus, London EC2M 7EB

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