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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Burberry climbs 5 on positive trading statement

Article By: ,  Financial Analyst
April 17, 2013 10:41 AM

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Good morning and welcome to the City Index market update for Wednesday, April 17, with me Warren Ruhomon.

In Asia the Nikkei is up around 1% from the day’s trading so far, at 13,382.

In Europe the FTSE has started the day with a decline of just over 0.5% at 6,304. The CAC 40 and German DAX are also in decline, currently trading at 3,685 and 7,682 respectively. Over in the US, the Dow Jones closed yesterday at 14,756.

Taking a glance at the big gainers and losers from this morning, Burberry are leading the way, up 5% off the back of positive news of an increase in second-half comparable sales, whilst insurance firm Resolution Limited are showing the biggest drop from today’s trading so far, with shares down just over 5%.

With a quick look at commodities, gold is trading up at around $1,382, silver is currently at $23.47, and brent crude oil is trading just under the $100 level at $99.4 a barrel.

Focusing on the major forex pairs, EUR/USD has shown some recent gains at 1.3182, GBP/USD is at 1.5348 and GBP/EUR is around 1.1637.

The recent widescale sale of gold funds in favour of equities has been at its fastest pace in two years, compounding a slump that has wiped $560 billion from the value of central bank reserves.

Exchange-traded products linked to gold have dropped $37.2 billion so far this year, as the metal reached a two-year low yesterday.

This has been your City Index Market update for Wednesday, April 17, with me, Warren Ruhomon.

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