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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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It s been a fairly quiet week so far and the markets are in range

Article By: ,  Financial Analyst
April 7, 2011 2:33 PM

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  • It’s been a fairly quiet week so far, and the markets are in range.
  • The FTSE hit a one-month high of 6056 on Wednesday and was slightly down at 6024 today in anticipation of the MPC meeting.
  • No surprises by the MPC, the rate held at 0.5% – and more pressure is on for change in May.
  • ECB interest rates were due at 12.45pm and the market expected a rise of 25-basis-points. Any change on that and we can expect some big moves.
  • Despite stronger banks today, RBS and HSBC were up by 1.5%.
  • The market was dragged lower by GKN, which fell 3.5% and by Vedanta, which slipped 3%.
  • Vedanta is down ahead of results tomorrow and the ongoing deal to buy Cairn’s Indian Assets, which had its deadline extended.
  • Earlier highlights of the week included strong results from M&S, following which the stock topped the FTSE on Wednesday, trading at 357p today.
  • We also saw a strong recovery from BP, which is currently trading at 475p.
  • Gold was a major highlight of week, touching $1462 per ounce.
  • Commodities are back in focus, spurred on by a weaker US dollar. Brent crude and Nymex are continuing their uptrend.
  • Brent crude for June was trading at $121.50 per barrel today.
  • GBP/USD is firm at around 1.63 while EUR/USD went above 1.4350.
  • Looking ahead, weekly job figures are due 1.30pm (London time) and tomorrow, keep an eye out for UK PPI at 9.30am (London time).
  • Full-year results from Vedanta Resources are also due to be announced.

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