BetOnMarkets Morning report


BetOnMarkets Representative
Please find below the Afternoon Report from David Evans, market analyst

After a week of gains, markets across the world have hit reverse gear in
the final trading session of the week. At current levels, it still looks
as though it will be a positive week for equities which is encouraging
considering the fact that the economic news flow continues to be bleak.

Ironically it is the financial sector that is providing some stability
within the FTSE today with the momentum still behind a resurgent
Barclays. Lloyds is up around 9% while HSBC and RBS are largely
unchanged on the day. It is commodities that weighing most heavily on
markets today with oil dropping around $1.50, erasing most of the gains
made earlier in the week.

Aside from economic factors, President Obama's fuel efficiency plans
appear to have hit crude and gasoline prices. Amongst other things,
Obama has set a minimum requirement of 30.2 miles per gallon for
passenger cars. The annual vehicle distance travelled by US drivers was
increasing at an almost parabolic rate until 2008 when the total vehicle
miles travelled dropped by 3.7% year on year. A continuation of this
trend and government support for great fuel efficiency could put further
pressure on crude's nascent recovery.

On the currency markets, the euro has been punished against the yen,
dollar and even the pound as fears over the European economy intensify.
Rumours of the ECB planning to follow the MPC and FOMC in quantitative
easing have also hit the currency. is the world's leading fixed odds financial trading
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