Spreadex Market Update
Tuesday, May 17, 2016 - Morning Market Update
Oil and Vodafone lead FTSE higher ahead of latest inflation reading
Having struggled to gain momentum for much of Monday the FTSE is finally reacting to oil’s resurgent in the way one would expect, jumping just shy of a percent to graze 6200. Of course the main thrust of the index’s growth remains its perky commodity sector, itself buoyed by the fact that Brent Crude is one final push away from reaching $50 per barrel for the first time since last November. The oil and mining stocks weren’t alone in their gains, however; Vodafone jumped nearly 2.5% this morning as it revealed a 2.3% rise in full year revenue to £41 billion alongside a 2.3% increase in EBITDA to £11.6 billion.
Yet the FTSE’s Tuesday excitement doesn’t end there. Still to come are the latest inflation figures and having hit its highest level in over a year, arguably thanks to the pound-dragging effects of the looming EU referendum, analysts are expected little change this month. That would leave the reading at 0.5%, with cable already excited at the prospect, the currency pairing nearing a fortnight-high after jumping above the $1.45 mark.
Wading back into the market mix this morning was the DAX, the German index gaining 130 points after the bell as it plays catch up after missing yesterday’s new found oil-optimism. In terms of the Eurozone’s Tuesday the day will be dominated by the region-wide trade balance figures, which is expected to edge up to a 10 month high of €23.1 billion.Recent Posts:
Evening Market Comment 16/05/2016
Afternoon Market Comment 16/05/2016
Stock of the day 16/05/2016 - Burberry Group PLC
Morning Market Comment 16/05/2016
The Week Ahead 16/05/2016
For further information on the trading day ahead, take a look at our Financial Diary
, which previews all the Economic Data due out to today and projected or previous figures.
Our Financial Diary is updated in real time as the figures are released throughout the day.
If you are unsure what different Economic Figures mean take a look at our Economic Indicators Explained guide
For a look at the trading week ahead our Financial Diary also lists all the companies due to submit trading updates this week. Each Friday, our diary will preview the forthcoming week's economic indicators and company reports schedule.
For market trends and analysis, don't forget our charts have automatically generated support and resistance trend lines helping aid your financial spread betting
with technical analysis. For more help on using our charts, view our Guide to Trading with Charts
Spread betting carries a high level of risk to your capital and can result in losses larger than your initial stake/deposit. It may not be suitable for everyone so please ensure you fully understand the risks involved.
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