Manoj Ladwa, ETX Capital - Market Update
The FTSE continues its rally this morning as the UK’s main index crosses the 4600 level. At 08:30 the FTSE 100 was up 20 points at 4582 having traded up to 4618 soon after the open. Demand for stocks is fairly broad as heavyweight companies lead the index higher, although volume is still fairly light it’s not beyond the realm of possibility to see the market being squeezed higher. Sectors of significant note include oil as the price of crude oil turns to the upside and retail as a number of major UK retailers report figures this week. Despite the market expecting at least a 50 basis point cut from the Bank of England this Thursday, the demand for Sterling seems to be returning as it improves against the Euro. As of 08:35 this morning, the Pound was trading at 1.0556 versus the Euro, having traded down to 1.02 on New Years Eve.
5th Jan 09
IMPORTANT - ETX Capital New Years Trading Hours
TUESDAY December 30th - The DAX will close at 13:00. The Bund, Bobl and Shatz will close at 16:00. WEDNESDAY December 31st - All German Markets are closed. The IBEX, S&P MIB, Spanish and Italian Shares are closed. UK Gilts and short sterling will close at 12:15. UK Indices and Shares will close at 12:30. French Markets will close at 13:00. US Markets will close at their normal times. THURSDAY January 1st - All Markets are closed. FRIDAY January 2nd - US Indices, and Currency futures will open at 11:00. All other markets will open as normal. (Please note the above times may be subject to change without notice)
30th Dec 08
Yahoo News, Canada - Global stocks in year-end bounce
“Investors realize that a lot of the bad news is out of the way… It has been a very difficult year for all parties. (Investors will) be glad to get it out the way and start the new year,” said Manoj Ladwa, a derivatives broker at ETX Capital in London.
http://ca.news.yahoo.com/s/reuters/081230/business/cbusiness_us_markets_global 30th Dec 08
International Herald Tribune, New York - Oil and gold ease as shares in year-end bounce
“Investors realise that a lot of the bad news is out of the way… It has been a very difficult year for all parties. (Investors will) be glad to get it out the way and start the new year,” said Manoj Ladwa, a derivatives broker at ETX Capital in London.
http://www.iht.com/articles/reuters/2008/12/30/business/OUKBS-UK-MARKETS-GLOBAL.php 30th Dec 08
CNBC, London - Global Markets: Oil and gold ease, shares put in year-end rally
“Investors realise that a lot of the bad news is out of the way… It has been a very difficult year for all parties. (Investors will) be glad to get it out the way and start the new year,” said Manoj Ladwa, a derivatives broker at ETX Capital in London.
http://www.cnbc.com/id/28431205 30th Dec 08
Reuters, Africa - Oil and gold ease, shares put in year-end rally
“Investors realise that a lot of the bad news is out of the way… It has been a very difficult year for all parties. (Investors will) be glad to get it out the way and start the new year,” said Manoj Ladwa, a derivatives broker at ETX Capital in London.
http://africa.reuters.com/business/news/usnJOE4BT05K.html 30th Dec 08