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Spread Betting Commentary: Miners drive equity markets higher

01-14-2011 01:45 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: City Index

Giles Watts is Head of Equities at spread betting provider City Index

Giles Watts is Head of Equities at spread betting provider City Index

Spread betting expert Giles Watts, Head of Equities at City Index (http://www.cityindex.co.uk/) summarises financial activity on 12th January as miners drive equity markets higher.

“The positive sentiment amongst equity investors showed no signs of abating as the F100 put on half a percent gains and the Dax one and a half percent in early hours trading.

The F100 was boosted by strong performances from Miners after Vedanta and Kazakmyhs were upgraded by Deutsche bank, strength in underlying commodities also helped the sector.

Banks further contributed to the strength in the index as comments circulated that the state owned banks are courting suitors for their governments stakes, heavy weight bank HSBA was the biggest performer in the sector adding 15 points to the index.

J Sainsburys posted Christmas numbers at the top end of expectations, citing strong performance in their quality food ranges, and sales of non food products. Despite the solid numbers, shares traded lower as investors remained cautious about the year ahead for the high street retailer, and their ability to improve margins.

Fashion retailer Supergroup appeared to buck the trend of specialist retailers by posting Christmas numbers again at the top end of expectation. A non ‘sale’ policy and new lines benefitted the brand made famous by celebrities and sports icons. The stock IPO’d last year at £5 and has had a dizzy rally in less than six months, the continuing strength of the brand continues to encourage investors who drove the price higher by 6% to trade at 1270.

Smith & Nephew remained on the radar as Credit Suisse raise the price target to 800 citing recent bid speculation and potential industry consolidation. Bid rumours have been swirling for weeks now, but show no real signs of disappearing, particularly given the firms reluctance to comment on such speculation. Given the recent above average volumes and volatile price action, investors clearly feel there’s no smoke without fire.

Investors seemed confident that the much anticipated Euro Bond auctions will pass smoothly. China and Japan have both reiterated that they have and will support forthcoming bond auctions; such comments have been taken well by investors who feel that this could keep put euro zone worries on the back burner for some time, particularly if there emerges global support for the euro zone and its debt burden. Currency markets remained quiet ahead of the Portugese auction, with volumes light as the Euro posted muted gains’ against sterling and the Dollar.”

You can keep your spread betting skills sharp with City Index’s free spread betting demo account. Visit http://www.cityindex.co.uk/learn-to-trade/demo-account.aspx for details.

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, CFDs (http://www.cityindex.co.uk/cfd-trading/) and, in the UK, spread betting.

We constantly look to widen the range of assets we offer, improve the performance of our financial spread betting (http://www.cityindex.co.uk/spread-betting/) and CFD trading platforms and expand the range of services we provide. The result is that our customers benefit from innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support.

Spread betting and CFD trading (http://www.cityindex.co.uk/cfd-trading/) are leveraged products which can result in losses greater than your initial deposit. Ensure you fully understand the risks.

For more information, visit http://www.cityindex.co.uk/.

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

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