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.
Open account
☰
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.
Open account
✖

Major indices trading slightly higher driven by upbeat Chinese PMI data

Article By: ,  Financial Analyst
December 3, 2012 1:00 PM

The video cannot be shown at the moment. Please try again later.

- We start the week with major indices trading slightly higher driven by upbeat Chinese PMI data. So far looking like it has overwhelmed the continuing concerns over the US fiscal situation from last week.

- The FTSE is at 5882, about 10 points higher from Fridays close, the DAX is at 7434, 5 points higher and the CAC is at 3574 so 8 points higher.

- With positive Chinese data released, it’s not surprising to see metal prices in demand, and as a resultant we find miners amongst the biggest risers driving the FTSE. Vedanta Resources being the strongest up 1.7% at 1089. But it’s fund manager Schoders who are the biggest risers so far this morning; they’re trading higher by over 3.3% at 1649, although it’s another financial stock Hargreaves Lansdown that are the biggest fallers down 1.5% at 745.

- As the day progresses it’s likely the major retailers could be in focus as the media dubs today as Cyber Monday, and expect today to be the most hectic day for online shopping.

- Other than the positive Chinese and Indian PMI figures, there isn’t much by way of major economic data released today although UK 10-year bonds will be auctioned at 10am.

- We do have a very busy week ahead with five central banks discussing monetary policies so plenty of opportunities ahead.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

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. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024