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Spreadex Market Update

Tuesday, December 29, 2015 - Afternoon Market Update
Connor Campbell - Market Analyst at Spreadex

Rising housing sector and stable Brent Crude can’t help FTSE match Eurozone growth

Despite a strong set of housing stocks (Persimmon and Berkeley Group leading the charge), lifted by both news of record high UK prices and the potential windfall from the cost of rebuilding and repairing the numerous homes damaged in the northern floods, and a stable oil price the UK index is struggling to match its Eurozone peers, hampered by a still grumpy mining sector. There are no real signs that the latter issue could turn around this afternoon, , with only Lonmin showing any real vigour this Wednesday. As ever those same commodity stocks that have plagued the FTSE throughout 2015 are trying to ensure it ends the year not with a bang but a whimper, the index currently up a mere 15 points.

At least this afternoon brings with it some data, the US goods trade balance (forecast to widen from a $58.4 billion to a $60.9 billion deficit) and CB consumer confidence (expected at 93.9 against 90.4 last month) figures still to come. In terms of the US open itself, the Dow Jones is looking at a near 85 point jump when the bell rings on Wall Street, though that could change dependant on the state of its figures as the day continues.

Recent Posts:
Morning Market Comment 29/12/2015
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Weekly Trading Update 24/12/2015
Morning Market Comment 24/12/2015
Evening Market Comment 23/12/2015

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.

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