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Spread betting opportunities : Financial market update

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Spread betting: financial markets round-up

Tuesday January 29, 2008

On Wall Street, the bulls continued the rally ahead of the Federal Open market Committee’s (FOMC) decision on US interest rates tomorrow (Wednesday 30, January).

US equity indices initially started strongly only to turn lower shortly after the opening bell before later resuming their advance on the back of rate-cut expectations. Overall, there were broad gains across the major equity market indices, led by the Dow Jones Industrial Average which gained 0.78% for the session, adding 96.41 points to end the day at 12480.3. The Standard and Poor’s S&P 500 index was not too far behind, with gains of 0.62%, or 8.34 points to finish the session at 1362.3. Technology stocks did not move as much, with the Nasdaq Composite index gaining a relatively smaller 0.35% to finish at 2358.06—a move of 8.15 for the day.

In London, strong gains by mining shares led the FTSE 100 index up an impressive 1.66%, adding 96.3 spread betting points to end Tuesday at 5885.2. London’s rally followed the recovery on Wall Street after a brief dip into negative territory.

Elsewhere on the London Stock Exchange, the techMARK index of technology stocks was up 1.88% and the midcap FTSE 250 index gained 2.75%, outperforming the other leading indices.

FTSE 100 - winners

Antofagasta [+6.69%]
Xstrata [+5.89%]
Anglo American [+5.80%]
Thomas Cook Group [+5.48%]
British Airways [+5.11%]

FTSE 100 - losers

Alliance & Leicester [-3.45%]
Shire (SHP) 935.00p -1.22%]
London Stock Exchange Group [-1.07%]
Man Group [-1.03%]
Carnival Corporation [-0.81%]

FTSE 250 - winners

Chloride Group [+12.50%]
Ferrexpo [+9.92%]
FKI [+7.98%]
Invensys [+7.29%]
Autonomy Corporation [+7.22%]

FTSE 250 - losers

PV Crystalox Solar [-3.80%]
Catlin Group [-1.98%]
Benfield Group [-1.39%]
Rathbone Brothers [-1.18%]
Hiscox [-1.08%]


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