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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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Cypriot lawmakers beginning their debate today

Article By: ,  Financial Analyst
March 22, 2013 11:00 AM

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- With a dismal start in Europe trading today, following continued debate over the proposed bailout for Cyprus. With Cypriot lawmakers beginning their debate today, investors will be keeping a close eye on the equity markets for positive news.

- In yesterday’s session, the STOX 600 fell 0.1% to 294.39 with fears of a 1% total fall – erasing 4 weeks of gains. In France, the CAC 40 opened down at 3754, with the DAX following suit down at 7906.

- Closer to home, the FTSE 100 retreated from its five-year highs yesterday, in its fifth straight session – opening today at 6388. With investors viewing the market from a risk-off perspective, Gold is poised for a bullish weekly rally of 1.3% on the close, trading this morning at $1,612.

- In UK equities, BP are set to engage in a share purchase program, following the sale of their 50% interest in TNK-BP to Russian oil giant Rosneft. BP is current trading up 1.92% at 458p.

- Across the pond, the S&P 500 closed down 0.83% at 1,545, with the NASDAQ also down 0.97% at 3222. The DOW also followed suit, posting in largest loss of the week – shedding 0.62% at 14,421.

- In currencies, Sterling headed for its highest advance in six weeks against the euro following the turmoil in Europe. Sterling further advanced to three-week highs against the USD, with both pairs trading around at 84.96 and 1.51.85 respectively. Analysts are predicting an advance in cable, with the BoE taking a dovish stance on retail data and further QE plans.

- In Canada, plans to eliminate the country deficit by its 2015 election saw its base currency trade up against the USD at $1.0252. In Asia, the YEN traded up against the USD at 94.36 following suit against the AUD at 98.56.

- So with continued debate centering around the Cypriot debt crisis, and all eyes on European equity markets, we could be poised for a dismal end to this week’s trading.

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