Market Report 07 Dec 2009

Review of the Week

Market Indices

Over the past few weeks, all four of the main indices have suffered some ups and downs.  However, last week all four returned positive gains as we draw closer to the end of the year.

The FTSE100 managed to post a rise of 1.46% over the week, closing at 5,322.36, having opened at 5,245.73.  In the US the DOW gained ground; it was only marginally up at 10,388.9, a rise of 0.77% having begun the week at 10,309.92.

Over in Asia, both of the main indices gained significant ground.  The Hang Seng had begun the week at 21,134.5 and finally closed out at 22,498.15, a rise of 6.45%.  The Nikkei 225 posted even larger gains, closing the week up 10.36% at 10,022.59 having opened at 9,081.52.

Oil and Gold had mixed fortunes. Oil gave up some ground to close the week down at 75.47 a barrel having opened the week at 76.05. Gold however, continued its meteoric rise to close the week up at 1,207.5 an ounce, having risen as high as 1,226 during the week’s trading.  As mentioned in previous weeks, reasons for this surge vary from the weaker US dollar to large inflows of money onto Exchange Traded Funds as investors have sought a safer haven during the continuing financial uncertainty and finally a few concerns around inflationary fears.


The Week Ahead

This week is once again very quiet in terms of company announcements from FTSE100 companies with only Tesco providing an update on Tuesday and Standard Chartered on Wednesday.

Tuesday

Tesco Interim Management Statement

This update should give the first indication on how Tesco’s Christmas sales are developing. In an attempt to boost Christmas trading, Tesco have brought forward their February clubcard points creating £250 million pounds worth of savings available to customers. This promotion could help widen the narrowing gap between Tesco and its rivals as shoppers hunt for bargains this Christmas.  

Wednesday

Standard Chartered Trading statement
This update will hopefully highlight the full extent to which the bank is exposed to Dubai. Tremors were felt throughout the banking sector recently and investors will need clarification on the company’s exposure to Middle East debt. Standard Chartered has had a very good year so far and figures will need to support this.

This data is provided by Andy Parsons, Advice team Manager at The Share Centre. This is not intended to constitute an offer or agreement to buy or sell investments.


 

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2009-12-08 13:19:53 © Moneyextra.com