Get our Weekly Trading Update email:

Spreadex Market Update

Thursday, October 23, 2014 - Afternoon Market Update
Lee Mumford
Lee _Mumford _100x 100

Investors take to the side-lines

European stocks remain little changed as investors take to the side-lines to analyse a string of economic data and earnings. German Flash manufacturing PMI figures came in much better than the 49.6 benchmark, exceeding estimates with a reading of 51.8. The unexpected figure was the best since July after economists had anticipated a second month contraction. This has contributed to gains in the DAX this morning which is currently trading up 25 points to 8964.

Heading into the afternoon, the FTSE is drifting slightly into the red. Supermarkets were once again in the limelight after Tesco reported a 92 percent fall in profits. They reported a bigger than expected gap in its finances this morning after finding accounting mistakes had gone back further than initially anticipated. This has led to the chairman, Sir Richard Broadbent, standing down after the mishap.

Data this afternoon showed that more Americans filed for jobless claims, coming in at 283,000, much higher than the 269,000 estimate. However, the market remained little fazed, with futures in the Dow Jones on track to open 130 points higher. US stock futures have advanced during the premarket after decent earnings from Caterpillar Inc and Boston Scientific Corp boosted sentiment. 

The Trading Day and Week Ahead

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