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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Feb 3, 2009.

  1. Erik

    Erik BetOnMarkets Representative

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    Please find below the Morning Report from David Evans, market analyst at BetOnMarkets.com

    The FTSE is currently indicating a higher opening, as traders wait for the release of the construction purchasing managers index. Analysts are hoping that there will be a rebound in the number which would signal that a rebound in construction. The FTSE might have a chance to open up more then 2 percent if the number comes out better then expected.

    Oil is trading back above the 40 dollars per barrel level on speculation that OPEC, led by Saudi Arabia, cut its output in January to avoid a supply glut and bolster prices. Saudi Arabia, OPEC 's biggest producer and the world's top oil exporter, reduced output by 375,000 barrels a day last month to an average 8.025 million barrels a day, the lowest since December 2002. Look for oil to test the 42 dollars per barrel level before Wednesday.

    Predicted opens as of 06:00 GMT
    FTSE: 4120.1 (+42.6)
    CAC40 2981.20 (+52.40)
    DAX30 4313.8 (+47.3)
    DOW: 7995 (+65)
    SP500 831.73 (+7.25)
    Gold: 898.75 (-7.70)
    Oil: 40.58 (+0.56)



    BetOnMarkets.com is the worlds leading fixed odds financial trading website. Since inception in 2000 it has processed over 15 million trades on financial indices, UK and US equities, gold and currencies. Over 130,000 clients have the ability to place trades from 1 to 25,000 GBP.



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