The FTSE is currently indicating a flat open, as traders are waiting to see
the UK industrial production numbers before deciding where the FTSE will go
next. While analysts are expecting an improvement from the latest numbers,
there is concern that they are overly optimistic. The FTSE opening price
will greatly depend on the economic data this morning. Crude oil is
currently trading above the 70 dollars per barrel level after an industry
group reported U.S. crude stockpiles dropped and the dollar declined,
bolstering the appeal of energy as an alternative investment. It seems
unlikely that oil prices will continue its torrid climb, and will spend a
few weeks in this area.
Predicted opens as of 06:00 GMT
FTSE: 44115.0 (+12.7)
CAC40 3301.9 (+10.0)
DAX30 5007.4 (+16.9)
DOW: 8753 (-7)
SP500 940.78 (+0.75)
Gold: 957.70 (+2.10)
Oil: 70.71 (+0.78)
Morning Report from David Evans, market analyst at www.BetOnMarkets.com
