Daily Spread Betting and Financial Market Round-up

Financial markets round-up
Thursday November 15, 2007

Spread betting opportunities : Financial market update

The major US stock averages ended lower on Thursday, as investors placed greater emphasis on negative news from the ongoing credit crisis than the more positive feedback from a steady reading on CPI and drop in oil prices.

The leading US equity indices all moved sharply lower on Thursday as the market volatility continued. On Wall Street, the Dow Jones dropped just under 121 spreadbetting points to close the session at 13110.05. The S&P 500 index was 19.43 points weaker, falling by 1.32% to finish at 1451.15. The Nasdaq Composite index fell by 0.98% to 2618.51—25.81 points below the previous close.

Earnings report from J.C. Penney gave investors little cheer as the company scaled back forecasts for the fourth quarter and the full-year on the grounds of a weaker retailing outlook.

In London, the FTSE 100 index moved lower by 1.13% (72.5 spread betting points) to end the day at 6359.6. The techMARK index was 0.3% lower and the FTSE 250 led the declines with a move of -1.53%.

The weak open on Wall Street helped to compound the losses that were already being inflicted on the Footsie by the poor showing in the banking sector. The Royal Bank of Scotland was once again on the list of heavy fallers in the UK Blue chip index. Barclay’s announcement of a much lower than expected write-down of £1.3bn at its investment banking division did little to help the sector on the whole.

The main movers and shakers among the blue chip stocks of interest to spread bet traders are outlined below:

FTSE 100 - winners
Tate & Lyle (TATE) 434.00p +2.84%
British American Tobacco (BATS) 1,801.00p +2.45%
Scottish & Newcastle (SCTN) 757.00p +2.23%
Cable & Wireless (CW.) 184.40p +1.99%
Imperial Tobacco Group (IMT) 2,430.00p +1.93%

FTSE 100 - losers
Experian Group (EXPN) 429.50p -9.53%
Whitbread (WTB) 1,534.00p -4.42%
British Land (BLND) 912.00p -4.05%
Royal Bank of Scotland Group (RBS) 448.50p -3.96%
DSG International (DSGI) 115.30p -3.76%

FTSE 250 - winners
Collins Stewart (CLST) 184.25p +3.22%
Berkeley Group Holdings Units (BKG) 1,501.00p +3.02%
BSS Group (BTSM) 442.00p +2.79%
PartyGaming (PRTY) 28.00p +2.75%
Catlin Group (CGL) 481.50p +2.67%

FTSE 250 - losers
Euromoney Institutional Investor (ERM) 415.50p -13.48%
Ladbrokes (LAD) 344.00p -9.35%
Beazley Group (BEZ) 145.50p -8.78%
Minerva (MNR) 179.00p -8.67%
New Star Asset Management Group (NSAM) 269.00p -7.16%

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