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BetOnMarkets Morning report

Discussion in 'Market Predictions and Reports' started by Erik, Feb 4, 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 flat opening, as traders are not sure what to expect from the Service purchasing managers index. Analysts are hoping that the figure will show some sort of recovery. If the number comes out better then the expected, 40.3 any number below 50 still shows a contraction for the month. The FTSE has a good chance to start Wednesday in the green.

    Oil is trading around the 41 dollars per barrel level after OPEC's president said the group may reduce output further to trim stockpiles. The groups current president announced that new measures may be taken at OPEC's March 15 meeting in Vienna if the current rounds of cuts do not raise prices. Look for oil to stay between 40 and 42 dollars per barrel until the inventory number is released later in the day.

    Predicted opens as of 06:00 GMT
    FTSE: 4149.9 (+4.4)
    CAC40 3003.40 (+23.10)
    DAX30 4393.2 (+30.7)
    DOW: 8042 (-25)
    SP500 835.73 (+1.75)
    Gold: 898.00 (+2.00)
    Oil: 40.91 (+0.02)




    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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