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Financial Spread Betting: European markets start with small gains – data eyed

01-24-2011 05:35 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: City Index

Spread betting expert Joshua Raymond

Spread betting expert Joshua Raymond

City Index (http://www.cityindex.co.uk/) Market Strategist Joshua Raymond analyses the financial developments shaping spread betting on 24th January, including a lower than expected Q4 profit for Phillips

“European markets started the new week with small gains as stronger miners balanced out a weaker opening for UK banks.

Investors are likely to focus more on economic data than company earnings this week. The amount of firms yet to report across the pond that moves the market is now much less and this week we have economic data of real importance including EU manufacturing, UK GDP, US GDP and rate decisions both from the Bank of England and the Federal Reserve. With this in mind, it may be a rather slow start to the week until we get into the depths of the data due out.

It is the stronger mining sector that is keeping European Indices afloat this morning, as much of their gains is helping to counter weigh weakness in the banks and tech stocks. We have Copper prices rallying 1% higher and this has given correlated strength to buyer demand for mining stocks.

On the downside however it is banking stocks that are a key drag on Indices, with Royal Bank of Scotland the worst performing equity on the FTSE 100, falling 2.7% as investors react to Vickers’ speech on banking reform and lock in profits from Fridays strong move higher when it's shares rose near 6% on speculation of an early exit from the Asset Protection Scheme.

In wider European equities, Philips was also a key drag after the electronics firm reported a lower than expected fourth quarter net profit and warned that consumer sentiment will continue to be subdued this year. The firm reported net profit of €465m, way short of market consensus with the majority of investors expecting a figure closer to €530m. Due to actual profit figures falling such a long distance away from market expectations, investors have moved quickly to sell their holdings in the electronics firm whose shares have subsequently fallen over 6% in early trading.”

To keep up with price movements and market news throughout the day, try City Index’s iPhone spread betting platform. Visit http://www.cityindex.co.uk/trading-platform/ 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, CFD trading (http://www.cityindex.co.uk/cfd-trading/) and, in the UK, spread betting (http://www.cityindex.co.uk/spread-betting/).

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 spread bet using innovative trading tools with transparent pricing, competitive spreads, and a high standard of customer service and support.

Contracts for differences (“CFD”) trading and financial spread betting (http://www.cityindex.co.uk/) carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary. For more information, visit http://www.cityindex.co.uk/.

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

Alex Nekrassov / Jonny Smith
New Century Media
020 7930 8033
alexnekrassov@newcenturymedia.co.uk jsmith@newcenturymedia.co.uk

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